Hours after it was reported that the UK tech tycoon Mike Lynch was one of many individuals lacking in Monday’s superyacht sinking off the coast of Sicily, information of a tragic coincidence emerged.

Stephen Chamberlain, 52, Lynch’s former co-defendant in a US fraud trial, during which they have been each acquitted, had died in hospital after being hit by a automobile whereas jogging in Cambridgeshire.

Like his former boss, Chamberlain had risen to essentially the most senior ranks within the British tech world earlier than his success was overshadowed by the lengthy authorized battle associated to their time operating one of many UK’s most outstanding startups.

The collision occurred on Saturday morning on the A1123 Newmarket Street, north of Cambridge. Chamberlain’s lawyer mentioned he had been “fatally struck” by a automobile whereas operating. He was taken to hospital and placed on life assist, and his dying was introduced late on Monday.

Earlier that day the yacht carrying Lynch and 21 others had sunk after reportedly being hit by a waterspout. Lynch’s spouse has been rescued however he, his 18-year-old daughter and Morgan Stanley Worldwide’s chair, Jonathan Bloomer, are amongst these lacking. The whereabouts of Lynch’s lawyer, Chris Morvillo, and his spouse additionally stays unknown.

The deaths come after Lynch and Chamberlain have been cleared in June of US fraud prices that might have resulted in years in jail.

Chamberlain studied mechanical engineering and administration on the College of Birmingham earlier than spending a decade as an auditor. In 2005 he joined Autonomy, the startup based by Lynch that had develop into one of many champions of the British tech scene.

Lynch had used his mathematical expertise, honed in a doctorate at Cambridge, to construct an organization that specialised in sifting enormous quantities of company information for helpful data. In 2011 the US computing large HP swooped to take it over.

Chamberlain, below Lynch and the corporate’s finance chief, Sushovan Hussain, was a key a part of the group that noticed by the $11bn deal. It was a triumph for Autonomy’s shareholders, however the deal turned bitter a 12 months later, shortly after they left the corporate, when HP alleged “critical accounting improprieties” and knocked $8.8bn off its worth.

A US Division of Justice investigation adopted and, by 2018, Lynch and Chamberlain have been indicted for conspiracy and wire fraud.

Regardless of their authorized troubles, Lynch and Chamberlain didn’t sit nonetheless. Lynch was one of many founders of Darktrace, a cybersecurity firm, and he introduced in Chamberlain in 2016 to function chief monetary officer. Chamberlain additionally volunteered as finance director of the League One soccer membership Cambridge United.

Darktrace, which is now a member of the FTSE 100, has accepted a £4.3bn takeover provide from a US personal fairness investor. When Chamberlain joined it was value $200m, in response to his LinkedIn profile. The enterprise grew, and Chamberlain was promoted to chief working officer till September 2020, when he took paid “administrative go away” to face the US prices.

A Darktrace spokesperson mentioned the corporate was “extremely saddened” to listen to of the dying of Chamberlain, “a considerable contributor to the group in its early years”.

They added: “Steve was a lot beloved by his colleagues and leaves many buddies at Darktrace. We prolong our deepest condolences to his spouse, Karen, and the remainder of his household who’re very a lot in our ideas at this difficult time.”

In contrast to Lynch, who fought an prolonged battle towards extradition, Chamberlain voluntarily surrendered to the US district courtroom. In an indication of their shut relationship, Lynch paid Chamberlain’s authorized charges.

Hussain had already been jailed after a US jury discovered him responsible of fraud associated to the takeover, and a choose had dominated in favour of HP in a civil fraud case. Nevertheless, prosecutors struggled to tie the fraud to Lynch and Chamberlain, and each have been acquitted on all counts in June.

Throughout the trial, Chamberlain had restricted his public statements to a operating weblog during which he detailed mountain races of as much as 100km in Wales and England’s Peak and Lake Districts. After being cleared of the US prices he thanked his attorneys on the LinkedIn social community and wrote: “Acquitted in June 2024 and now seeking to assist rising firms obtain their objectives.”

In an announcement launched by Cambridgeshire police, Chamberlain’s household mentioned: “Steve was a much-loved husband, father, son, brother and good friend. He was a tremendous particular person whose solely aim in life was to assist others in any method doable.

“He made a long-lasting impression on everybody who had the privilege of understanding him. He will probably be deeply missed however without end within the hearts of his family members.”