Mike Lynch, the tech entrepreneur once hailed as Britain’s answer to Bill Gates, has lost an appeal against extradition to the US to answer criminal fraud charges. The Guardian reports:

Lynch, the founding investor of the British cybersecurity firm Darktrace, 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. Two high court judges considered Mike Lynch’s challenge at a recent hearing in London and on Friday issued a ruling rejecting his appeal against extradition to face the charges.

Lynch, who could face a maximum prison sentence of 25 years if found guilty, has always denied the allegations and any wrongdoing. Lord Justice Lewis and Justice Julian Knowles ruled on Friday that Lynch, who made 500 million pounds from the sale to HP and was hailed as one of Britain’s few global tech champions, should be extradited to the US to stand trial. Sushovan Hussain, Autonomy’s former finance director, is already serving time in jail in the US after being found guilty of fraud relating to the same deal.

A spokesperson for Lynch said he was considering appealing to the European court of human rights. “Dr Lynch is very disappointed, but is reviewing the judgment and will continue to explore his options to appeal, including to the European court of human rights (ECHR),” he said. “The United States’ legal overreach into the UK is a threat to the rights of all British citizens and the sovereignty of the UK.” However, criminal defense law firm Corker Binning said that only 8% of applications to the ECHR in such cases — seeking a Rule 39 order to stop the UK extradition until it has considered the case — were successful last year.