, The former CEO and founder of Theranos, has been convicted of wire fraud and conspiracy to commit wire fraud. Holmes faces up to 20 years in prison for defrauding investors in his blood test startup. The verdict comes after a long month of trial, more than that He was first charged in 2018 and was forced to step down as CEO.
Out of a total of 11 charges, Holmes was convicted of four counts: conspiracy to defraud investors and three counts of wire fraud against individual investors. He was not convicted on four additional charges, including a count of conspiracy to defraud patients, two counts of fraud against investors and a count of wire fraud arising from Theranos ads in Arizona. There was a jury Immovable Wire fraud in the other three counts and did not return a verdict on that allegation.
During the trial, Holmes’ lawyers tried to portray him as a young and inexperienced entrepreneur. “Elizabeth Holmes has been working with bones for 15 years, trying to make lab testing more affordable,” said one of Holmes’ attorneys. . “He failed … but failure is not a crime.”
Holmes, who During the trial, he stated that he did not intend to confuse the public or investors, and was advised to protect the company’s “trade confidentiality.” As New York Times He noted that he had “spent most of his testimony arguing that others in Theranos were responsible for the company’s shortcomings.”
The prosecution alleges that Holmes was aware of serious flaws in the company’s technology and hid the problems from investors. Ex-patients who received incorrect blood tests also testified, including an Arizona woman who received incorrect results. , And a woman with whom the misdiagnosis was made .
The story of Holmes is a source of great fascination even to people outside of Silicon Valley. On top of that, Theranos was valued at more than $ 9 billion, and had a board of directors made up of former high-ranking officials. , Including two former Secretaries of State, Henry Kissinger and George Schultz. Holmes, who dropped out of Stanford to start the company, appeared regularly And often compared to Steve Jobs and other iconic founders. (Holmes himself is said to have been fascinated by Jobs and accepted his signature .)
Ex The Wall Street Journal In 2015, reporter John Carreroi was the first to report on Theranos’ technology problems, and his coverage led to multiple investigations and lawsuits that eventually led to criminal charges against Holmes and former COO Ramesh “Sunny” Balwani. On the stand, Holmes testified that he had a romantic relationship with Balwani . The trial of Balwani is about to begin .
There is no shortage of depictions of Holmes pop culture. After Carreyrou’s best seller, Bad blood, There was one And several podcasts about the rise and fall of Theranos. Hulu is set to make a debut About the ballad, Amanda played the role of Sephrid Holmes, in March. And Apple recently Film adaptations led by Jennifer Lawrence Bad blood.
Holmes, who will probably appeal the charges, could face up to 20 years in prison, although it is not yet clear when he will be sentenced.
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