An email reveals that even Autonomy's finance director thought the once-soaraway Cambridge software company was heading for a financial plane crash.
Mike Lynch, the Cambridge scientist who founded Autonomy, his finance director Sushovan Hussain, and the group's auditor Deloitte have been threatened with legal action by Hewlett-Packard, which acquired Autonomy for $11bn in 2011.
As before, they are sure to demand de facto independence, autonomy over finance, control over Kirkuk province, a fixed percentage of Iraqi revenues, and even control over Kurdistan's minerals.They must, however, be careful not to overplay their hand.
Today, he and Autonomy's finance director Sushovan Hussain are characterised by HP as the "architects" of a "massive fraud" that inflicted billions of dollars of harm on the company.
Sushovan Hussain, a British resident who was Autonomy's finance chief at the time of its $11bn acquisition by HP, was charged in an indictment filed on Thursday in federal court in San Francisco with conspiracy and wire fraud.
He argued that H.P.'s management oversaw Autonomy's finances for more than a year and should have been able to detect any improprieties sooner.
Until today, the CCSS maintains its financial and managerial autonomy and finances its services based on social insurance contributions complemented by payments by the government to cover the poor.
Its suit claims Hogenson, Autonomy's US finance chief, was dismissed after raising concerns with the firm's auditor, Deloitte, and with the then UK regulator, the Financial Services Authority FSAA).
Details of the transaction emerged from a letter sent on 8 June 2011 from Autonomy's then finance director, Sushovan Hussain, in response to questions from the Financial Reporting Review Panel, which acts for the FRC.
Sent from Sushovan Hussain's phone on 10 December 2010, weeks before Autonomy's former finance director was expected to wow the City with yet another quarter of double-digit growth, the email is a cry for help.
