January 22, 2022

Milne News

News Reported Raw, Real and Truthfully

Home » Theranos founder Elizabeth Holmes found guilty of criminal fraud

Theranos founder Elizabeth Holmes found guilty of criminal fraud

2 min read
Theranos founder Elizabeth Holmes found guilty of criminal fraud

Theranos founder and former CEO Elizabeth Holmes was found guilty on two counts of wire fraud and two counts of conspiracy to commit fraud by a jury on Monday.

Holmes faces up to 20 years in prison for each guilty count.

She was also found not guilty on four counts of fraud, but the jury returned a split verdict on a further three. The jury said they were “unable to come to a unanimous verdict on three of the counts,” after more than 45 hours of deliberation.

The jurors began deliberating on December 20, weighing a total of 11 fraud charges.

Holmes misled people into investing millions of dollars into her blood-testing startup Theranos, which she said was able to diagnose multitudes of diseases with just a small finger prick, before it was discovered that the technology had never worked as promised and produced misleading results, AP reports.

RECOMMENDED WATCH: Behind the rise and fall of Theranos [documentary]

Leave a Reply

Trending