![]() "That choice was not only callous, it was criminal." She chose to be dishonest," Assistant US Attorney Jeff Schenk said at the start of closing arguments. Prosecutors said had Holmes been truthful with investors and patients, the venture never would have attracted critical funding and revenue. And former patients told jurors that they would not have used Theranos' tests if they had known the tests were flawed. Investors testified that Holmes made misleading claims about Theranos, such as that its machines were being used in the field by the US military. #THERANOS FOUNDER ELIZABETH HOLMES TRIAL#Balwani also has pleaded not guilty and will be tried at a later date.ĭuring the trial in San Jose, California, which began in September, jurors heard testimony from former Theranos employees who said they left the company after witnessing problems with its technology. She had pleaded not guilty to nine counts of fraud and two counts of conspiracy. Holmes was indicted in 2018 alongside Theranos' former chief operating officer Ramesh "Sunny" Balwani. #THERANOS FOUNDER ELIZABETH HOLMES SERIES#Theranos collapsed after the Wall Street Journal published a series of articles that suggested its devices were flawed and inaccurate. The company secretly relied on conventional machines manufactured by Siemens to run patients' tests, prosecutors said. The case has shed light on Theranos' failed endeavour to revolutionise lab testing. Wealthy private investors including media mogul Rupert Murdoch invested millions in the company after meeting with the founder who was known for her Steve Jobs-like black turtleneck. Holmes rose to Silicon Valley fame after founding Theranos in 2003. Holmes was also charged with misleading patients about the tests' accuracy. Prosecutors said Holmes, 37, swindled private investors between 20 by convincing them that Theranos' small machines could run a range of tests with a few drops of blood from a finger prick. She faces up to 80 years in prison when sentenced by US District Judge Edward Davila but would likely get a much lower sentence. A sentencing date was not immediately set. Holmes, wearing a grey suit jacket, appeared poised after the verdict was read. The jury could not reach a decision on three counts related to individual investors. She was acquitted on three counts of defrauding patients who paid for tests from Theranos, and a related conspiracy charge. Holmes was convicted on charges of defrauding three other investors, as well as conspiring to do so. SAN JOSE, California: A US jury on Monday (Jan 3) found Theranos founder Elizabeth Holmes guilty of conspiring to defraud investors in the blood testing start-up, convicting her on four of 11 counts. ![]()
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