Sunday, January 23, 2022

Theranos Founder Elizabeth Holmes Found Guilty On Four Of 11 Counts, Faces Decades In Prison

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Theranos founder Elizabeth Holmes was convicted in the present day on 4 of 11 prices associated to her firm’s failed blood-testing expertise.

A San Jose jury deliberated for practically 50 hours over seven days earlier than discovering the disgraced former CEO responsible on three counts of fraud and one in all conspiracy. Holmes was acquitted on 4 different prices, and jurors have been unable to achieve a verdict on three different fraud counts.

Holmes, 37, who had pleaded not responsible to all 11 prices and testified in court docket, faces a most jail time period of 80 years — twenty years on every conviction — however is prone to serve them concurrently. No sentencing date was set however is anticipated at a listening to subsequent week.

Holmes give up Stanford University at 19 and went on to discovered the now-shuttered Theranos, claiming that its unprecedented expertise may diagnose quite a few illnesses together with most cancers from just some drops of human blood. By 2015, Silicon Valley had made the younger CEO a short-lived billionaire as enterprise capitalists swarmed. But an exposé within the Wall Street Journal that 12 months started her fast downfall.

She was indicted in 2018, and her trial started August 31.

Holmes is the topic of Bad Blood, an upcoming Apple film starring Jennifer Lawrence because the CEO and written by Adam McKay (Don’t Look Up, The Big Short). The undertaking initially was arrange at Legendary in 2016, not lengthy after the WSJ report was printed.

She additionally was the topic of The Inventor: Out for Blood in Silicon Valley, a 2019 documentary by Oscar winner Alex Gibney. “People have a fascination with frauds,” the filmmaker instructed Deadline in an interview then.

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