Autonomy founder Mike Lynch extradited to US after losing appeal

Entrepreneur alleged to have duped Hewlett-Packard into overpaying for software firm in $11bn deal

The tech entrepreneur Mike Lynch has been extradited to the US to face criminal fraud charges, where a court has ordered him to pay a $100m (79m) bond and called in 24-hour armed guards to ensure he does not flee the country.

Lynch, a billionaire founder once lauded as Britain's answer to Bill Gates, is facing allegations that he duped the US firm Hewlett-Packard into overpaying when it struck an $11bn deal for his software firm Autonomy in 2011. He denies any wrongdoing.