Mike Lynch, the British founder of software company Autonomy, has been extradited to the United States to face criminal charges of fraud related to the 2011 sale of his company to Hewlett-Packard. Lynch denied the charges and appealed against extradition, but his appeal was rejected by the High Court. Lynch pleaded not guilty to all 17 charges in court. Autonomy was sold to Hewlett-Packard for $11 billion in 2011, but a year later, the US firm announced a huge write-down of $8.8 billion, due to the alleged manipulation of Autonomy’s accounts to inflate its value. Lynch has criticized the UK-US extradition treaty, which he said is a threat to British citizens’ rights and UK sovereignty. Conservative MP David Davis called the treaty “dreadful,” predicting that Lynch’s extradition would have a chilling effect on future sales on the London Stock Exchange.