Mike Lynch Died in Sicily Yacht Sinking, Now His Widow Could Be Liable for $4B Because of Hewlett Packard Claim

Mar. 15, 2025

Mike Lynch in 2014.Photo:Simon Dawson/Bloomberg via Getty

Simon Dawson/Bloomberg via Getty

Hewlett Packard Enterprises is not dropping fraud claims against British tech mogulMike Lynch, who died last month after aluxury yacht sank off the coast of Sicily— and will continue to pursue damages of up to $4 billion from his estate.

The claims were made against Lynch and Sushovan Hussain, the former chief financial officer of Autonomy, a business software company Lynch founded, which was sold to Hewlett Packard in 2011 for $11 billion.

A damages hearing was held in Feb. 2024  — months before Lynchwas acquitted in a separate U.S. trialrelated to the sale  — and HPE said in its statement that the “judge’s decision regarding damages” due to the company is expected to be issued “in due course.”

“It is HPE’s intention to follow the proceedings through to their conclusion," the statement continued.

Angela Bacares, Lynch’s widow  — whowas rescued after the sinking,which also resulted in the death of the couple’s18-year-old daughter Hannah— could be liable for the damages, per theAssociated Press.

The ‘Bayesian’ sailing boat.PERINI NAVI PRESS OFFICE/HANDOUT/EPA-EFE/Shutterstock

PERINI NAVI PRESS OFFICE/HANDOUT/EPA-EFE/Shutterstock

In 2015, HPE sued Lynch and Sushovan, who both denied wrongdoing, seeking $6.5 billion in damages, according toThe New York Times.

Although it remains to be seen how much HPE will be awarded in damages, Judge Robert Hildyard previously said he expected the amount will be"substantially" lessthan what the company sought, according to theTimesand the AP.

The newspaper reported that Lynch planned to appeal.

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A source close to the survivors previously told PEOPLE that the yacht had traveled from the Aeolian Islands tocelebrate Lynch’s recent acquittal, the end of a legal saga that began in 2018, when he was indicted on several counts of securities fraud and conspiracy.

“That’s why he took his closest friends and colleagues on the trip,” the source added.

A life boat searching for the passengers who were aboard the ‘Bayesian’.ALBERTO PIZZOLI/AFP via Getty Images

ALBERTO PIZZOLI/AFP via Getty Images

Lynch and his daughter were among the seven victims who died after the luxury yachtBayesiansank off the coast of Sicilyon Monday, Aug. 19.

Other victims were identified as New York City-based lawyerChristopher Morvillo, who helped Lynch get acquitted, and his wife Neda, as well as Morgan Stanley International chairmanJonathan Bloomerand his wife.Yacht chef Recaldo Thomasalso died.

Rescue personnel conducting dicing inspections of the ‘Bayesian’ yacht’s wreck.ITALIAN COAST GUARD HANDOUT/EPA-EFE/Shutterstock

ITALIAN COAST GUARD HANDOUT/EPA-EFE/Shutterstock

Ambrogio Cartosio, the chief prosecutor of Termini Imerese, announced on Aug. 24 that amanslaughter investigationhad been launched into the sinking.

source: people.com