Photo courtesy of Stuart Isett/Fortune Global Forum (Creative Commons license)
SAN JOSE, CA (AP) — Elizabeth Holmes has been convicted of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.
The case exposed Silicon Valley’s culture of hubris and hype.
A jury convicted the 37-year-old on two counts of wire fraud and two counts of conspiracy to commit fraud after seven days of deliberation. The verdict followed a three-month trial featuring dozens of witnesses–including Holmes herself.
She now faces up to 20 years in prison for each count, although legal experts say she is unlikely to receive the maximum sentence.
By Michael Liedtke, Associated Press
About Brendan Fitzpatrick
