Elizabeth Holmes found guilty of defrauding investors
Elizabeth Holmes deliberately misled investors about the capabilities of the blood testing technology at Theranos and is guilty of three counts of wire fraud, a jury found today. She is also guilty of conspiracy to defraud investors with her co-defendant, Sunny Balwani.
She faces up to 20 years in prison for each of the counts. The jury found her not guilty of two counts of defrauding patients and not guilty of conspiracy to defraud patients. The jury did not return a verdict on three more counts of defrauding investors.
Holmes was the founder and CEO of Theranos, a company that promised to revolutionize blood testing by developing a device that could run hundreds of medical tests on just a few drops of blood. The company was an…
