Former Theranos CEO Holmes guilty of fraud and conspiracy
The Hindu
Holmes had set out to create a more humane, convenient, and cheaper way to scan for hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick.
A jury found fallen Silicon Valley star guilty of fraud for turning her blood-testing startup Theranos into a sophisticated sham — one that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as Holmes promised.
The 37-year-old Holmes was found guilty on 2 counts of wire fraud and 2 counts of conspiracy to commit fraud on Monday after 7 days of deliberation. The jury decision followed a three-month trial featuring dozens of witnesses — including Holmes herself — and numerous exhibits. She now faces up to 20 years in prison for each guilty count, although legal experts say she is unlikely to receive anything close to the maximum sentence.
The jury deadlocked on the three remaining charges. The split verdicts are “a mixed bag for the prosecution, but it’s a loss for Elizabeth Holmes because she is going away to prison for at least a few years,” said David Ring, a lawyer who has been following the Holmes case closely.