Elizabeth Holmes' verdict was released and the jury found him guilty of criminal fraud. Theranos Inc., a Silicon Valley blood testing startup founded by Holmes. It was once famous, valued at $9 billion, but was eventually identified as a scam and went out of business.
A jury in San Jose, Calif., ruled after hearing three months of trial testimony. Unless the ruling is overturned on appeal, Holmes, 37, could face up to 20 years in prison, though her actual sentence could be much less than that.
The jury found Holmes guilty of four of the 11 conspiracy and fraud charges he faced, four of which were not found and three of which were not ruled. She faces no charges of defrauding patients.
After the verdict, Holmes walked out of the courthouse to the Marriott Hotel, a block away, without answering any questions posed by the media along the way. Holmes' lawyers declined to comment.
Holmes rose to fame because she claimed that Theranos' small devices could perform hundreds of diagnostic tests faster, more accurately, and cheaper than traditional large machines, boasting that it would revolutionize health care.
One selling point she advertises is that Theranos' analytical instruments can produce test results from just a drop of blood. Holmes mentions her own fear of needles as the inspiration for inventing the technique.
By 2015, Forbes named Holmes the youngest self-made female billionaire to be featured on the magazine's cover. But that same year, the Wall Street Journal published a report exposing Theranos' technical flaws and prompted regulators to conclude the following year that the instruments posed a threat to the patients' health.
This article originated from the financial world
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