Angela Bacares is the wife of late British technology entrepreneur Mike Lynch.
Mike was the co-founder of Autonomy Corporation, Invoka Capital, and Darktrace.
Angela is also a businesswoman and philanthropist who also works for Invoke Capital.
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Married life and children
Angela Bacares exchanged wedding vows with Mike Lynch a long time ago. From their marital bliss, they were blessed with two children.
Their firstborn was a daughter whom they named Esme Lynch. Their secondborn was also a daughter and they named her Hannah Lynch.
Age
Angela Bacares was born in 1967. She is 57 years old.
Net worth
Angela has an estimated net worth of 190.9 million pounds. She and her husband Mike had a combined net worth of 852 million pounds.
Her husband pleaded not guilty after years of fraud case
Mike's cofounded company Autonomy Corporation was bought by Hewlett-Packard in 2011 for a hefty amount of 11 billion dollars.
However, in 2012, Hewlett-Packard claimed that they found serious accounting improprieties by Autonomy and had to write down 8.8 million dollars which wiped out their profit for that quarter.
Mike denied all these allegations and blamed Hewlett-Packard instead for the error.
Hewlett-Packard then claimed being misled about the company’s value and in early 2013 asked the UK Serious Fraud Office to hold an investigation.
The SFO investigated the case for two years and declared there was not enough evidence for Mike to be convicted.
After five years, in 2018, Sushovan Hussain, the chief financial officer of Autonomy, was found guilty of several frauds and it was found that he was the one who falsely inflated the company’s revenues between 2009 and 2011 to make it appear to be growing when it was not.
Sushovan was sentenced to five years in prison.
The US prosecutors also criminally charged Mike with fraud claiming he earned 815 million dollars and inflated Autonomy's revenues and lied to regulators and analysts.
The case was presented in London's high court with Hewlett-Packard seeking 5 billion dollars in damages.
Hewlett-Packard won the case but the judge said the damages were likely far less than the requested amount.
Mike was then placed on a house arrest after being handed over to the US in May 2023.
He then went on trial in San Francisco on March 18, 2024, and pleaded not guilty to all charges.
She survived while losing her husband and daughter in a yacht sinking
After battling the fraud case for more than a decade, the family thought they finally had some moments of peace and were going to celebrate the victory of the case with the yacht trip along with some friends, colleagues, and people who helped him on his legal battle.
The yacht named Bayesian was claimed to be unsinkable. 22 people were on board the yacht including Mike, his wife Angela, and daughter Hannah.
The Lynch family along with his guests were having a good time until the yacht encountered a violent storm, a tower of tornado-waterspouts while being docked outside the Sicilian port of Porticello.
Angela and her husband woke up at 4 am on August 19, 2024, when the boat tilted sharply.
She initially thought it was nothing but later she found herself showered in broken glasses.
Angela fled out of her cabin walking in the broken glasses scattered all across the deck and safely made it off the boat.
Her husband on the other hand is said to have gone to look for his daughter, Hannah, who was sound asleep in her cabin.
The yacht quickly disappeared in the wave taking her husband and daughter along.
She was then taken to the nearby Palermo hospital where she was confined in a wheelchair and had bandages all over her body due to the injury she sustained while fleeing the vessel.
Was her husband and daughter murdered?
Seven people lost their lives including her husband and daughter. Her daughter was the last one to be found.
This incident is now being investigated as manslaughter.
A public prosecutor of a nearby town Termini Imerese named Ambrogio Cartosio said they are conducting an investigation against unknown people.
Ambrogio said all the bodies were found in a single cabin which was not theirs and they have no idea why all the victims were in the same cabin.
He also said,
Termini Imerese prosecution has opened a case hypothesizing the crime of shipwreck and of manslaughter but we are only at the initial stage of the inquiry do far.
He further added that the main question they are focusing on is how a sailing vessel which deemed unsinkable by its manufacturer sank while a nearby sailboat remained largely unscathed.