Ex-Autonomy CEO Defends Client Deals At $5B Fraud Trial

Law360, London (July 8, 2019, 7:42 PM BST) -- Autonomy's founder defended the British software firm’s use of reciprocal deals with customers during trial testimony Monday, but distanced himself from payments to a reseller for “nonexistent services” that Hewlett Packard alleges were used to dishonestly pump up revenues ahead of a failed merger.

HP alleges that Autonomy purchased products from its customers that it did not need to buy to induce customers to buy its software and provide them with funds to pay for it as part of a massive accounting fraud that falsely inflated the company’s sales in the run up to the U.S. tech giant’s disastrous acquisition of...

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