FOUNDER OF START-UP THERANOS CONVICTED OF FRAUD IN CALIFORNIA

Posted 05 January, 2022

 

Elizabeth Holmes, a former Silicon Valley star who promised to revolutionize blood testing with her start-up Theranos, was convicted on Monday of fraud by a California court.

Elizabeth Holmes, a former Silicon Valley star who promised to revolutionize blood testing with her start-up Theranos, was convicted on Monday of fraud by a California court.

After more than three months of trial and 50 hours of deliberation, the jury of the San José court found her guilty of defrauding investors but acquitted her of certain charges and could not get over it. 'agreement on other facts with which he was accused.

This conviction exposes the 37-year-old woman to several decades in prison, but the sentence will be pronounced at a later date by the federal court.

Elizabeth Holmes had founded Theranos in 2003, at the age of 19, and promised diagnostic tools that were faster and cheaper than those in traditional laboratories.

With the help of a careful story, she had managed in a few years to gain the trust of luminaries and to raise funds from prestigious investors, attracted by the profile of this young woman, a rarity in the male world of Californian engineers.

Former Secretary of State Henry Kissinger supports her, as does former Defense Minister James Mattis or media mogul Rupert Murdoch, who is investing more than $ 100 million in Theranos.

At its peak, the company is valued at nearly $ 10 billion, and majority shareholder Elizabeth Holmes is the head of a fortune of $ 3.6 billion, according to Forbes magazine.

But in 2015, the Wall Street Journal noted the immense pot-aux-roses: the fabulous machine promised by Theranos never worked.

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