Who is Mike Lynch? UK entrepreneur among those missing after superyacht sinks off Sicily

Six people remain missing after a luxury superyacht sank off the coast of Palermo in Sicily, Italy on Monday, including British technology entrepreneur Mike Lynch.

Lynch, 59, was aboard the Bayesian, an 184-foot-long British-registered sailboat that sank into the water right before sunrise. While six individuals are missing — including American, British and Canadian nationals — one person has been confirmed deceased from the sinking that capsized the yacht's 22 passengers, Italy's coast guard said in a statement.

Of the 15 rescued passengers, eight were taken to a local hospital for treatment and were in stable condition, CNN reported. A 1-year-old was among those rescued. The large vessel sank after heavy rainfall from strong storms caused flooding and landslides in parts of Italy.

Prosecutors in a town near Palermo have since opened an investigation into the events leading up to the sinking, which may shed some light on why Lynch was aboard the superyacht. Lynch's wife, Angela Bacares, was one of the rescued passengers, the BBC reported.

Here is what we know about Lynch.

What companies did Mike Lynch found?

In 1996, Lynch co-founded the Autonomy Corporation, an enterprise software company now known as HP Autonomy. He also founded Invoke Capital , a venture capital fund.

Through Invoke Capital, Lynch became a co-founder of Darktrace, a British cyber security company established in 2013 and headquartered in Cambridge, England.

Why was Mike Lynch charged with fraud?

Soon after Lynch sold Autonomy to Hewlett-Packard (HP) for $11 billion in 2011, a sale in which he made around $800 million, he was hit with civil and criminal charges.

In November 2012, HP announced an $8.8 billion writedown of assets and claimed Autonomy artificially inflated its value by hiding "serious accounting improprieties, disclosure failures and outright misrepresentations," the Guardian reported.

Although the UK Serious Fraud Office ended its investigation of the sale due to insufficient evidence, Lynch and Stephen Chamberlain, former vice president of finance at Autonomy, were indicted for fraud in the U.S. in November 2018. Sushovan Hussain , Autonomy's former finance chief officer, was found guilty of fraud in 2018 and sentenced to five years in prison, according to the U.S. Attorney's Office for the Northern District of California .

HP won a civil action in the High Court in London in January 2022 against Lynch and Hussian, the BBC reported. Damages were to be decided later, with the judge saying the amount would be "significantly less" than the $5 billion claimed by HP, according to the outlet.

Was Mike Lynch found guilty?

Lynch was extradited to the US in May 2023 to face 16 counts of wire fraud, securities fraud and conspiracy. He and Chamberlain, who was charged with 15 counts of wire fraud and conspiracy, pleaded not guilty.

On June 6, 2024, the men were found not guilty of all charges.

Lynch told BBC Radio 4 in August that although he knew he was innocent at the onset of this 11-week trial, he felt his wealth allowed him to prove his case in U.S. court.

"You shouldn't need to have funds to protect yourself as a British citizen," he said.

Stephen Chamberlain on life support

On Saturday, two days before Lynch's disappearance, Chamberlain was seriously injured in a road accident, Reuters reported, citing a person familiar with the matter.

Chamberlain was struck by a car in Cambridgeshire on Saturday morning and was placed on life support, the person said, per Reuters.

Contributing: Reuters and Cybele Mayes-Osterman/ USA TODAY

This article originally appeared on USA TODAY: Who is Mike Lynch? UK entrepreneur among those missing after superyacht sinks off Sicily