Elizabeth Holmes: The Theranos founder has been convicted of fraud in California.
Holmes had faced a long trial in California and has now been convicted of defrauding investors. Prosecutors claimed that she had lied to investors about the company’s technology which supposedly only needed a few drops of blood to be able to sense diseases.
In the closing arguments, prosecutor Jeff Schenk explained that Holmes “chose fraud over business failure. She chose to be dishonest with investors and patients.”
He went on to add: “that choice was not only callous, it was criminal.”
Despite having denied all the charges against her Holmes was found guilty of four charges. The charges could see her spend a considerable amount of time in prison. The jury found her guilty of conspiracy to commit fraud against investors. She was also found guilty of three counts of wire fraud. On four counts of defrauding the public though Holmes was found not guilty by the jury.
A date for sentencing has not yet been scheduled and a further hearing is expected.
The jury had been deliberating on the verdict for seven days, so the judge made the decision to allow the jury to deliver a partial verdict.
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