Hussain has been indicted in a San Francisco court on charges of wire fraud, and conspiracy to commit wire fraud, which carry a combined maximum prison sentence of 20 years. In addition, the federal government is seeking the return of some $7.7m it claims are the proceeds of crime.

The indictment states: ‘Hussain, together with others, engaged in a fraudulent scheme to deceive purchasers and sellers of Autonomy securities and HP about the true performance of Autonomy’s business, its financial condition, and its prospects for growth.’

The indictment claims that Hussain and others artificially inflated revenues, made false and misleading statements about Autonomy’s finances, made fraudulent entries into the company’s books, issued false and misleading quarterly and annual reports, and sought to deter employees from raising concerns about the company’s financial practices and performance.

John Keker, the lawyer who is representing Hussain, has put out a statement which says: ‘Sushovan Hussain is innocent of wrongdoing. He defrauded no one and, as Autonomy’s CFO, acted at all times with the highest standards of honesty, integrity and competence. He will be acquitted at trial.

 ‘It is a shame that the Department of Justice is lending its support to HP’s attempts to blame others for its own catastrophic failings. Mr. Hussain is a UK citizen who properly applied UK accounting rules for a UK company. This issue does not belong in a US criminal court.

‘It’s especially galling that the Justice Department is pursuing this case on behalf of HP, a company that went out of its way to employ a web of offshore shell companies to acquire Autonomy with the specific intent of avoiding payment of US taxes.

‘We look forward to trial.’

HP’s acquisition of Autonomy for $11bn in 2011 has become mired in controversy after the company wrote down $8.8bn the following year, of which $5bn related to alleged accounting irregularities and alleged misrepresentation of how software rental and acquisitions were shown. 

Last year, HP filed a $5.1bn lawsuit in London accusing former Autonomy CEO Mike Lynch and Hussain of accounting fraud. The case is unlikely to be heard before 2018.

In October 2015, Lynch filed a $150m countersuit against HP. At the time his spokesman said this was for damages ‘caused by false and negligent statements made about him and the Autonomy management team by HP on 20 November 2012 and in HP’s subsequent public smear campaign.’

Lynch said: ‘Over the past three years, HP has made many statements that were highly damaging to me and misleading to the stock market. Worse – HP knew, or should have known, these statements were false.’