Holmes, who had once promised to revolutionise health care, was the most prominent executive to field fraud accusations in a generation of high-flying, money-losing startups
Elizabeth Holmes outside court as the jury continues deliberation in her fraud trial in San Jose, Calif., on Monday, Jan. 3, 2022. Holmes, the founder of the failed blood testing start-up Theranos, now awaits sentencing after being found guilty of four of 11 charges of fraud on Monday. (Jim Wilson/The New York Times)
SAN JOSE, Calif. — Elizabeth Holmes, founder of the failed blood testing startup Theranos, was found guilty of four of 11 charges of fraud Monday, in a case that came to symbolize the pitfalls of Silicon Valley’s culture of hustle, hype and greed.
Holmes, who had once promised to revolutionize health care, was the most prominent executive to field fraud accusations in a generation of high-flying, money-losing startups. A jury of eight men and four women took 50 hours over seven days of deliberations to reach a verdict, convicting her of three counts of wire fraud and one count of conspiracy to commit wire fraud by lying to investors to raise money for her company.
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