8 yacht court heathridge

8 Yacht Court, Heathridge

Under offer...under offer, property features.

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Nearby government schools, nearby private schools, contact gaylene bicheno for more information..

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3 Bed  •  1 Bath  •  1 Car

8 Yacht Court, Heathridge WA 6027

3 bed 1 bath 1 car, house sold on mon 29 sep, 2014, what's around yacht court, house description, “**under offer...under offer**”.

This lovely presented home is ready and waiting for you to simply move in and enjoy all it has to give. Offering a large, spacious living area with high ceilings, walk through to the kitchen overlooking a large all weather alfresco area ideal for 'all seasons 'entertaining. Situated on a large 682sqm block located in a whisper quiet culdesac only minutes away from local schools, shops, parklands and beaches this 3x1 home also boasts; - Well appointed kitchen - Meals - Study/4th bedroom (including built in robe) - Generous size bathroom. - Spacious living are -Dining - Master bedroom with built in robe - 2 good sized minor bedrooms -Single garage -Below ground pool- salt -Ducted Evaporative Air-conditioning and gas bayonet for year round comfort - Solar power Be quick to get your hands on this one. It won't last long!!! Call Gaylene Bicheno today for further details.

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Peard Real Estate - Property Management

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Mike Lynch, Tech Mogul Acquitted of Fraud, Dies at 59

The British entrepreneur was found not guilty of fraud charges in the sale of his company to Hewlett-Packard. He was celebrating his acquittal when his yacht sank off the coast of Sicily.

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By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

Mike Lynch , a British software mogul who was once celebrated as a top technology leader — only to spend more than a decade defending himself against accusations that he orchestrated one of the biggest frauds in Silicon Valley history — died on Monday after his yacht sank off the coast of Sicily . He was 59.

An official in the Italian city of Palermo confirmed on Thursday that Mr. Lynch’s body had been recovered by divers.

Twelve guests and 10 crew members were onboard the yacht, the Bayesian, when it went down during a violent storm. Mr. Lynch’s wife, Angela Bacares, was rescued, along with nine crew members and five other passengers. Seven bodies have been recovered, including one thought to be that of Mr. Lynch’s daughter, Hannah Lynch.

Mr. Lynch’s death came two months after he was acquitted in federal court in San Francisco of criminal fraud charges, tied to the $11 billion sale of his company, Autonomy, to Hewlett-Packard in 2011. The takeover, widely regarded among investors as one of the worst deals in history , led HP to accuse Mr. Lynch of deception.

Prosecutors in the United States charged Mr. Lynch with more than a dozen counts of fraud and conspiracy related to the deal, with a potential sentence running to about two decades in prison.

On the day in 2023 that a British judge found him liable for civil fraud in the matter, the British government — despite numerous appeals by Mr. Lynch — approved his extradition to the United States. He was confined to a townhouse in San Francisco under 24-hour surveillance, on his own dime. During his house arrest, his mother, Dolores, and his brother, Richard, died.

The accusations sullied the reputation of Mr. Lynch, who was known at one point as Britain’s Bill Gates.

Michael Richard Lynch was born on June 16, 1965, to Michael and Dolores Lynch, working-class immigrants from Ireland, and grew up outside London. He attended private school on a scholarship and graduated from Cambridge before founding Autonomy in 1996. The company helped clients analyze unstructured information to unearth hidden insights about their businesses.

By 2011, Autonomy had become one of Britain’s most prominent technology companies, with its home base sometimes called “Silicon Fen” — a name derived from its location at the southern tip of the Fenland, a marshy area in eastern England.

Mr. Lynch became a celebrity in British tech circles. He was a member of the Royal Society, one of the country’s top scientific associations; an adviser to David Cameron, the prime minister at the time; and a member of the BBC’s board.

Autonomy drew the attention of HP, which had sought to transform its fortunes by buying a high-powered software company, and which eventually paid 60 percent over the British company’s market value. But investors and analysts opposed the deal, and HP wrote down the value of the transaction by $8.8 billion. HP fired the chief executive who led the deal and, soon after, Mr. Lynch himself.

Meg Whitman, the former eBay leader who took over HP, accused Mr. Lynch and his lieutenants of “serious accounting improprieties” that misled her company over the state of Autonomy’s business.

But Mr. Lynch — armed with the hundreds of millions that he collected from Autonomy’s sale — hired an army of lawyers to argue that HP had been aware of the company’s practices. His team also said that Mr. Lynch had largely delegated the company’s day-to-day financial operations.

Mr. Lynch’s trial began in San Francisco in March. It stretched out over three months and involved reams of often dense internal documents. After two days of deliberations, a jury found Mr. Lynch and Stephen Chamberlain, a former Autonomy vice president of finance who faced similar charges, not guilty on all counts. (Mr. Chamberlain was fatally struck by a car on Saturday while out for a run, his lawyer, Gary S. Lincenberg, said Monday in an emailed statement.)

After the verdict, Mr. Lynch said in a statement, “I am looking forward to returning to the U.K. and getting back to what I love most: my family and innovating in my field.” He later returned to his homes, in London and Suffolk.

While defending himself against the HP accusations, Mr. Lynch became a venture capitalist, founding Invoke Capital to invest in companies including the cybersecurity provider Darktrace.

More recently, he had begun to focus on artificial intelligence research, including ways the technology could help those with hearing difficulties.

His survivors include his wife and another daughter, Esme.

Kirsten Noyes contributed research.

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced

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12 Yacht Court , Heathridge WA 6027 is a House , with 3 bedrooms, and 1 bathroom. This House is estimated to be worth around $660k, with a range from $570k to $750k. The Domain property ID is QH-3600-RS .

12 Yacht Court last sold 14 years ago, for $455k. It was sold by David Evans Real Estate - Joondalup , and took 12 days to sell .

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Mike Lynch won a dramatic 12-year legal battle over his tech company. Weeks later, he and his top lawyer are dead.

• Mike Lynch won an unexpected jury acquittal after a dramatic 12-year legal saga.
• HP accused him of cooking the books of his company Autonomy to make it seem worth billions more.
• He finally won — and then he, his lawyer, and his codefendant all died within days.

In 2011, Mike Lynch was the toast of the tech world.

Hailed as Britain's Bill Gates, Lynch sold Autonomy, his groundbreaking data-management company, to Hewlett-Packard for $11 billion.

Shareholders and business commentators were puzzled about what HP, a hardware company, would do with Autonomy, a software company — and why the latter was worth $11 billion. HP's executives said at the time that Autonomy had the potential to transform HP and usher the Silicon Valley titan into a new generation.

None of that happened. A year after the acquisition, HP wrote down $8.8 billion of the purchase value and accused Lynch of lying about Autonomy's finances.

The claim led to a vicious decadelong series of legal disputes.

Another Autonomy executive, Sushovan Hussain, was convicted of fraud in 2018 and sentenced to five years in prison. Federal prosecutors brought criminal charges against Lynch and Stephen Chamberlain, the company's former vice president of finance.

Lynch's court battles concluded with a three-month criminal trial in San Francisco. After just two days of deliberation, jurors found Lynch and Chamberlain not guilty on all counts.

"The truth has finally prevailed," his lawyer Chris Morvillo said.

Within months, Lynch, Chamberlain, and Morvillo were all dead.

A takeover doomed from the start

Lynch, who studied neural networks for his Ph.D. at Cambridge University, spun off Autonomy from a previous company, Cambridge Neurodynamics, in 1996.

Using sophisticated algorithms, Autonomy allowed users to organize and search through large amounts of unstructured data. It was a bright spot in Britain's tech industry and was listed on the country's stock-market index.

Autonomy's clients included Oracle, Adobe, Cisco, AT&T, and HP itself. But HP's purchase of Autonomy was controversial.

The hardware company's CEO, Léo Apotheker , who had been in the position for less than a year, tried to shift the company's direction. HP had struggled to sell printers and servers as part of its traditional hardware business. Apotheker wanted to spin off HP's personal-computing division and make a big bet on moving the company into software, which had higher margins.

Analysts hated the idea. Shareholders sued. HP's value dropped by more than half. The company's board fired Apotheker within weeks of the decision to buy Autonomy, before the deal even closed.

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His successor, Meg Whitman, fired Lynch and wrote down the value of Autonomy by $8.8 billion, which indicated HP paid nearly four times what it should have. The New York Times columnist James B. Stewart floated the case that it was the worst acquisition in corporate history — even worse than AOL's ill-fated purchase of Time Warner.

In a stunning move, HP accused Lynch of fraud the following year. The company alleged he and Hussain, a former CFO, inflated Autonomy's sales figures. The FBI and the UK's Serious Fraud Office both opened investigations.

Lynch fervently denied accusations of wrongdoing. He pointed out that Autonomy was audited by Deloitte, which hadn't found issues. Lynch said HP stifled Autonomy with mismanagement and bureaucracy that pushed out employees and stymied sales.

The culture at HP, he said, was poisonous.

"It was like boarding a plane, realizing the engine is on fire, and then going up to the cockpit only to find that the pilots are having a fight," he told The Telegraph at the time .

According to The New York Times, lawyers representing shareholders in the lawsuit against HP obtained a copy of the company's own KPMG-prepared due-diligence report. The report said that Autonomy wasn't transparent enough with its finances, but Apotheker moved forward with the takeover anyway, deciding that Autonomy's potential was worth it.

A legal morass

The UK's Serious Fraud Office announced in January 2015 that it closed its investigation into Autonomy, finding insufficient evidence for legal action, though it referred some issues to the US Justice Department.

In the subsequent months, HP and Lynch sued each other in the UK. As those cases wound their way through the British court system, US prosecutors continued investigating HP's purchase of Autonomy. In 2016, they brought fraud charges against Hussain, who was found guilty in a 2018 jury trial. British regulators formally barred him from the financial industry earlier this year after he completed a five-year sentence in the US.

HP unloaded Autonomy altogether, selling parts of it in 2016 and 2017.

In November 2018, Justice Department prosecutors went directly after Lynch and Chamberlain.

Their indictment accused Lynch and Chamberlain of falsifying financial documents, lying to auditors and regulators, and suppressing the voices of people who criticized Autonomy's financial practices.

Lynch was no longer looking at civil fights over money. He was facing the prospect of up to 20 years in prison.

For years, Lynch fought extradition to the US. Powerful in British political circles — he had advised David Cameron when Cameron was prime minister and served on the boards of the BBC and the British Museum — he and his lawyers argued that his legal issues should play out in the UK, not the US. American criminal laws were unfairly stacked against him, his lawyers said.

HP's lawsuit against Lynch — still churning in the background — finally went to trial in 2019. Apotheker testified he would have abandoned the Autonomy acquisition if he had a better understanding of its finances. Lynch argued that the whole morass was orchestrated by Whitman, Apotheker's successor, who harbored political ambitions (she ran for governor in California and is currently the US ambassador to Kenya) and wanted to shift the blame for Autonomy's failures to someone else.

Robert Hildyard, the judge who oversaw the case, ruled mostly in HP's favor. In a 2022 decision that ran over 1,700 pages, he wrote that HP overpaid for Autonomy because of deceit from Lynch and Hussain. Hildyard hadn't yet decided how much they would owe in damages, but he wrote it would be "substantially less" than the $5 billion HP asked for.

When he wasn't fighting legal battles, Lynch continued to be an entrepreneur. He founded a venture-capital firm, Invoke Capital, and invested in and helped run the cybersecurity firm Darktrace, which,  Politico reported, has deep ties  to Britain's intelligence agencies.

Financial disclosures Lynch filed last year as part of his criminal case indicated he was worth about $450 million.

The criminal trial

The UK finally extradited Lynch to the US in May 2023 , where he prepared for his trial — alongside Chamberlain as a codefendant — while under house arrest in San Francisco.

Lynch had a top-shelf legal team, but after the British court loss and Hussain's conviction, the chances of an acquittal seemed bleak.

Lynch testified at the end of his three-month trial, which began in March, telling jurors he wasn't involved in day-to-day financial oversight of the company. Misunderstandings, he said, could be chalked up to the differences between British and American accounting practices.

"A lot of what we've been looking at is like peering through the door of a kitchen and seeing the sausage-making machine, and that's how it really works," he told jurors, according to The Times of London . "If you take the microscope into even the most spotless kitchen, you'd find bacteria. If it wasn't there, that'd be something very abnormal. I don't think Autonomy was any different."

Jurors believed him. In June, they declared Lynch not guilty of the 15 charges against him, clearing Chamberlain as well.

Morvillo, one of Lynch's lawyers in the trial — as well as in the preceding decade of legal disputes — praised the jury, saying it had rejected "the government's profound overreach in this case."

"This verdict closes the book on a relentless 13-year effort to pin HP's well-documented ineptitude on Dr. Lynch," Morvillo said in a joint statement with his attorney colleague Brian Heberlig. "Thankfully, the truth has finally prevailed."

In an interview with The Times of London after the trial , Lynch reflected on how, with a great burden lifted off him at the age of 59, he could remake his life.

He mourned the deaths of his brother and mother, who both died ahead of the criminal trial. He mused about using his fortune to start a British version of the Innocence Project, which prevents wrongful convictions in the US.

"Now you have a second life," he told The Times. "The question is, what do you want to do with it?"

But first, a celebration. Lynch; his wife, Angela Bacares; one of his two daughters; Morvillo and his wife, Neda; and several others went on a superyacht, the Bayesian , which was anchored outside Sicily and owned by Bacares.

Chamberlain moved back to the UK. While running near his home, a driver hit him with a car . He died in a hospital on Saturday.

On Monday, a sudden storm struck the Bayesian. The yacht capsized.

Of its 22 passengers, 15, including Bacares, were rescued.

But rescuers have pulled five bodies from the wreckage, including Morvillo's and Lynch's . A sixth remains trapped inside the boat. Lynch's daughter Hannah remains missing.

Correction: August 22, 2024 — An earlier version of this story misnamed Lynch's lawyer. His name was Chris Morvillo, not Charles Morvillo.

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