Skip to content
Search AI Powered

Latest Stories

Autonomy former finance chief sentenced for five years in US jail

BRITISH Asian, former finance director of Autonomy has been sentenced for five years in jail.

Sushovan Hussain, 55, will spend his jail term in the US after he found guilty in an accounting fraud case.


The British Bangladeshi was sentenced at a San Francisco court earlier this week.

He was found guilty in April 2018. He also was sentenced to another three years of supervised release.

Hussain was fined $4 million in addition to the $6.1m he gained from the value that the US company paid for Autonomy.

Hussian has to report for the start of his prison sentence by June 15.

He has not been permitted to move out of the US since being detained in 2016.

As a British citizen, Hussain could request a transfer to a UK prison. However, he cannot do so until after his appeal is heard if he is permitted to appeal.

Meanwhile, Hussain's lawyers said that he would appeal against his conviction.

Hussian was convicted in 2018 for making false statements to the investors about Autonomy’s revenues before its $11 billion acquisition by Hewlett Packard (HP) in 2011.

HP was forced to write $8.8bn off the value of the UK firm within 12 months of its acquisition.

The US prosecutors claimed that Hussian boosted British software company’s financial performance by booking revenue from the agreements ahead of time.

The latest sentencing has come amid Hussain and Lynch, 53, battle the biggest civil fraud claim ever to be heard in a UK court as the Hewlett Packard Enterprise sue the duo for $5bn in damages.

The UK nationals have denied any wrongdoings.

More For You

Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less
The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft.
The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft.

Air India orders 100 more Airbus jets to expand fleet

AIR INDIA has placed an order for 100 more Airbus aircraft to expand its fleet and enhance connectivity, the Tata Group-owned carrier announced on Monday.

The new order includes 10 widebody A350 planes and 90 narrowbody A320 family aircraft. The purchase is in addition to the 470 aircraft Air India ordered last year from Airbus and Boeing, the airline said in a statement.

Keep ReadingShow less