March 27, 2023

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Elizabeth Holmes, founder of Biotech, convicted of U.S. fraud | The world

Elizabeth Holmes, Founder of Theronos, American Biotechnology Company Was found guilty of fraud In a lawsuit challenging the business culture of Silicon Valley in a California court this Monday (3).

Holmes, 37, faces up to 20 years in prison for drawing a line between technological innovation and criminal dishonesty.

The jury found Holmes guilty of four counts, including defrauding investors in his California-based startup, which promised to revolutionize blood testing with tools that are faster and cheaper than those used by traditional labs.

The jury further removed the administrator from the other charges and failed to reach agreement on many of the eleven charges he faced.

The former Silicon Valley Pledge founded Teranos at the age of 19. He guaranteed that the company would revolutionize the field of diagnostic testing with machines that could deliver quick results with just a few drops of blood, which attracted large investors and made him a billionaire in his 30s.

The woman was once considered the world’s next technological figure, but her empire collapsed after the Wall Street Journal reported that her diagnostic machines were not working.

The arbitral tribunal concluded its seven-day debate this Monday.

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