A US federal jury convicted company “Theranos”, Elizabeth Holmes, and she company The startup that claimed to revolutionize the blood test, in four out of 11 counts of fraud once morest investors, including former US Secretary of State Henry Kissinger and the famous media mogul Rupert Murdoch.
Holmes testified, and expressed her regret for the mistakes that had occurred. She said she “never intended to mislead anyone”. Holmes is charged with nine counts of electronic fraud and two counts of conspiracy to commit Internet fraud under an indictment filed three and a half years ago. She was convicted on three of nine counts of fraud and one of two counts of conspiracy. She was acquitted of four counts of patient fraud, including one count of conspiracy to commit internet fraud and three counts of electronic fraud.
Holmes had promoted years ago a medical test called “Edison” that might detect diseases such as cancer and diabetes quickly without suffering from “needles”, but the test failed and the company began to fall apart.
Holmes will almost certainly appeal the verdict, a process that might take years, in which she can challenge aspects including evidence the judge has allowed regarding the defense’s objections or any possible sign of juror misconduct.
The plaintiffs had to prove their intent to defraud investors and patients, seeking unexpected financial gain. Holmes responded with testimony that she “made mistakes, and believes that Technique The blood test in the company shows signs of success.” Jurors were convinced that Holmes conspired to defraud the investors.
Holmes, 37, might face up to 20 years in prison for each charge she is convicted of, but previous prosecutors have said such harsh punishment is rare in white-collar fraud cases.
