Headline Roundup • January 4th, 2022
Theranos CEO Elizabeth Holmes Convicted of Wire Fraud
Summary from the AllSides News Team
On Monday, Theranos founder Elizabeth Holmes was convicted of fraud.
A jury found her guilty on four counts of wire fraud, determining that she deceived investors and patients regarding the accuracy of blood tests conducted by Theranos. Each count carries a maximum sentence of 20 years in prison.
Holmes founded Theranos, a health technology blood-testing startup company, in 2003, and became a Silicon Valley billionaire. Troubles began in 2015 when The Wall Street Journal reported that only a small portion of Theranos blood tests were being done with Edison, the company's testing machine. Many other tests were reportedly being run on other machines using diluted blood samples.
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David Paul Morris/Bloomberg via Getty Images
A jury in federal court on Monday found that Elizabeth Holmes had deliberately misled investors in Theranos, the company she started to revolutionize blood testing. The verdict follows a closely watched trial that stretched over almost four months.
Admirers often compared Holmes to Steve Jobs while she helmed Theranos, and the company she founded and ran was worth billions. She will soon face sentencing after being convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud. A masked Holmes showed no visible reaction as...
Fox News Digital
The California jury in the criminal fraud case against Theranos founder Elizabeth Holmes has found her guilty on four of 11 charges on its seventh day of deliberation to determine Holmes' fate.
The panel composed of eight men and four women convicted Holmes on one charge of conspiracy and three charges of fraud. They determined she was not guilty of a second conspiracy charge and not guilty on three fraud charges. They were unable to reach a unanimous decision on another three fraud charges.
Holmes, 37, was charged by federal prosecutors with nine counts...
DAVID PAUL MORRIS/BLOOMBERG VIA GETTY IMAGES
Former Theranos CEO Elizabeth Holmes has been convicted of four counts of fraud, but she was acquitted of four other charges. The jury said earlier they were deadlocked on the three remaining charges.
Holmes showed no reaction as the verdicts were read, sitting alongside her defense team, CBS San Francisco reports.
A judge will determine her sentence at a later date. Holmes could now face up to 20 years in prison for each count.
Earlier Monday, U.S. District Judge Edward Davila called the jury back to the courtroom where the lengthy...
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