Elizabeth Holmes was found guilty of 4 of the 11 charges of fraud in the Theranos scandal.
Do you have the impression that the Greeks are cunning and inventive like the ingenious Odysseus? Obviously you have not heard of the scandal Theranos. Theranos was a privately held American company founded in 2003 by 19year then (!!) Elizabeth Holmes. He succeeded me scams to raise 700 million US dollars and at its peak raise its shares to 10 billion dollars.
Holmes claimed to have made a breakthrough in health technology by inventing tests bloodthat required a few drops of blood as a sample and could be performed very quickly with small automated devices developed by the company.
Thus she became the youngest and richest self-made billionaire woman for a technology and device that no one had seen before until now. The mockery lasted 12 whole years, until in 2015, medical research professors John Ioannidis and Eleftherios Diamantis, along with investigative journalist John Carreyrou of the Wall Street Journal, questioned the validity of Theranos technology.
So the company lost its solvency and faced a series of lawsuits from investors and medical circles in America. The company collapsed and things went to court for infidelity and fraud.
Theranos has been out of business since 2018, but Holmes' criminal trial only began this fall after delays due to the pandemic and the birth of Holmes' child. Over the course of 11 weeks, the prosecution questioned key witnesses such as former Minister DefenseJames Mattis, whistleblower Erica Cheng, Theranos patients, investors, health professionals and journalists.
Holmes argued at trial that her failure as a founder startup it does not mean that he committed fraud. She even said that Theranos COO Ramesh “Sunny” Balwani abused her. Holmes was found guilty of defrauding investors and acquitted of charges related to defrauding patients. Not yet set date for Holmes' sentencing hearing.
