By Peter Campbell and Martin Robinson PUBLISHED: 13:43 EST, 20 November 2012 | UPDATED: 14:31 EST, 21 November 2012 The UK's most revered technology entrepreneur, known as 'Britain's Bill Gates', has denied masterminding a £3billion accounting cover-up as a bitter row with his former bosses at Hewlett Packard intensified today. Dr Mike Lynch made more than £500million by selling his home-grown software firm Autonomy last year in a £7.1billion deal but now the American company has wiped £5.5billion ($8.8bn) off its value. HP boss Meg Whitman blames ‘accounting improprieties’ by 'certain former Autonomy employees' for the £3billion loss, accusing Lynch and others of 'lying' to them by inflating revenues and profit margins for at least two years before the deal was struck.
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Dr Mike Lynch sold his company Autonomy to Hewlett Packard for £7.1bn
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A year on HP has written off billions of Autonomy's value
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They claims the company cooked its books to inflate the sale price
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Matter has been reported to the authorities in America and the UK
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Lynch slams 'false' allegations and says it is down to poor HP management
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BBC have spoken to Dr Lynch and will not ask him to leave their board
He left HP after @placeholder missed budget forecasts and says that Autonomy has been mismanaged since his exit.