Theranos Founder Elizabeth Holmes Convicted Of Fraud

Share post:

Theranos founder Elizabeth Holmes was convicted Monday of fraud and conspiracy.

Prosecutors accused Holmes of deliberately lying about the technology she allegedly used to detect diseases with a few drops of blood, and her company raised $900 million from top billionaires and investors through the project.

In addition, prosecutors called about 30 witnesses to prove that Holmes was aware of the product she was offering investors, and several directors testified to investors. Multiple directors also testified about warning Holmes about the flaws in Thanos’ technology.

According to prosecutor Jeff Schenk, Holmes “chose fraud over business failure. She chose to be dishonest with investors and patients. That choice was not only callous, but it was also criminal.”

For more information, read the original story on the BBC.

Featured Tech Jobs

SUBSCRIBE NOW

Related articles

X/Twitter cracks down on criticism and suspends Irish journalist

Journalist Séamas O’Reilly has expressed disbelief and amusement after his account on X (formerly Twitter) was suspended shortly...

Elon Musk: Allegation of illegal drug use concern board and investors

Elon Musk, the renowned CEO of Tesla and SpaceX, is currently embroiled in controversy following allegations of possible...

BlackBerry names new CEO, will split cybersecurity and IoT businesses

BlackBerry’s new leader is the former head of its cybersecurity business unit. The Waterloo, Ont., company said this morning that John Giamatteo is its new chief executive officer and a member of its board of directors, effective immediately. Richard Lynch, who has served as interim chief executive officer since Nov. 4, after the departure of

Microsoft Hires Sam Altman And Greg Brockman To Spearhead New AI Research Unit

Microsoft announced that OpenAI CEO Sam Altman and ex-president Greg Brockman will lead a newly formed advanced AI...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways