Mike Lynch Was Elated but ‘Struggling to Accept’ Reality of Fraud Acquittal

British tech entrepreneur Mike Lynch, who was acquitted on fraud and conspiracy charges just two months before he went missing after a superyacht sank off the coast of Sicily, was experiencing a range of emotions after the end of his lengthy legal saga, according to a journalist who spoke with Lynch about the matter.

Although he was “obviously incredibly grateful and happy,” after his sudden change in fortune, the businessman was also still “struggling to accept” his new reality, Danny Fortson — who interviewed Lynch after his acquittal for the The Sunday Times — tells PEOPLE.

Back in 2018, federal prosecutors in California indicted Lynch on several counts of securities fraud and conspiracy, per the Associated Press and the BBC. The indictment related to his 2011 sale of Autonomy, the business software company he founded, which was sold for $11 billion to Hewlett Packard, per the AP.

However, the trial didn’t begin until 2024 because Lynch fought extradition to the United States for years following his indictment, reported the BBC. In June, Lynch was acquitted on all 15 counts.

In an interview published on July 27, Lynch spoke with Fortson about the verdict, saying it felt like he had been given a “second life.”

But, speaking with PEOPLE on Tuesday, Aug. 20, Fortson says that when they spoke, he felt that Lynch was also still “in shock.”

Fortson notes that Lynch was originally facing over a dozen charges that could have sentenced him to 25 years in prison. “Given his age and some health issues, he was very clear that he would probably die in prison in America,” says the journalist.

And for the past decade, Fortson says that Lynch “lived much of his life…under this kind of cloud.” Then, thanks to a verdict, everything changed in the blink of an eye.

“He was just really struggling to grapple with that,” the journalist shares. “He was hugely excited and very thankful, but also just this case had been going on, or the allegations had been going on for more than a decade.”

Ahead of Fortson’s conversation with PEOPLE, The Sunday Times correspondent shared a post on X (formerly known as Twitter) reacting to the news that Lynch and his 18-year-old daughter were missing.

“The terrible irony is that when we sat down last month, he made it clear that he felt he had won a new lease on life,’ ” he wrote.

Attorney Christopher Morvillo, represented Lynch in the fraud case, his wife Neda, as well as Morgan Stanley International chairman Jonathan Bloomer and his wife Judy are also missing.

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A source close to the survivors confirmed to PEOPLE that Lynch was celebrating his acquittal when the yacht went down early on the morning of Aug. 19.

The Italian coast guard previously confirmed to PEOPLE that 22 people were on the Bayesian, a 56-meter (183-ft.) British yacht that had been moored a half mile off the coast of Porticello when it was hit by a sudden storm.

Since the incident, one person, identified as a cook from the boat, was found dead near the yacht. Additionally, 15 people have been rescued, including Lynch’s wife, Angela Bacares.

On Tuesday, Aug. 20, local sources told PEOPLE that many of the investigations believe that those missing are presumed to be deceased and trapped in the hold or in their cabins, although officials have not yet commented on that.

The search remains ongoing.