Tech Tycoon Mike Lynch Missing After Yacht Sinks off Italy

Mike Lynch, a notable UK entrepreneur recently cleared of a significant $11 billion fraud charge in the United States, is currently unaccounted for following the sinking of a superyacht near southern Italy, announced the chief of the Civil Protection Agency.

The disaster struck early, as The Bayesian, a 56-meter luxury vessel anchored off Porticello near Palermo, was caught in a sudden storm that raged through coastal areas. According to Salvo Cocina from the Civil Protection Agency, while Lynch’s wife was among the 15 survivors of the ordeal, six individuals are still missing after the yacht met its fate amidst the harsh weather conditions off the Sicilian coast. In response, Italian officials have initiated an investigation into the tragic event.

Lynch, 59, was acquitted in early June in a San Francisco courtroom of charges related to an immense fraud scandal connected to the sale of his tech company, Autonomy, to Hewlett-Packard. He co-established Autonomy in Cambridge in 1996 and faced allegations by US prosecutors who charged him with wire fraud, securities fraud, and conspiracy involving extensive falsification of records.

Extradited from the UK for the trial, Lynch, a University of Cambridge alum from Suffolk, fervently denied any misconduct despite facing the possibility of 20 years in prison for the 17 accusations laid against him.

Renowned in the tech industry, sometimes hailed as Britain’s Bill Gates, Lynch has been a celebrated figure, receiving widespread acknowledgment for his contributions. However, a representative from Invoke Capital, another venture he created, refused to provide any statements regarding the incident.

It was reported that Lynch was on the yacht with his business associates when the storm hit. Following his acquittal in the US, he openly criticized the American prosecution system.

He told the BBC, “Because I had enough money not to be swept away by a process set up to sweep you away.” Lynch further commented on the need for financial resources for one’s defense, stressing, “You shouldn’t need to have funds to protect yourself as a British citizen” in an interview broadcast earlier in the month.