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Elizabeth Holmes: Founder of Theranos Found Guilty of Fraud

2022-01-04T01:42:47.343Z


She was hailed as a biotech pioneer, allegedly wanted to revolutionize blood tests with Theranos - and ended up being a fraudster. Now a US jury has also decided on Elizabeth Holmes' guilt.


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Elizabeth Holmes (archive image)

Photo: Jeff Chiu / AP

Her career has made headlines around the world, with entire documentaries devoted to the case of Elizabeth Holmes.

She is now primarily concerned with the courts, and her trial is being followed with great interest.

Now the jury has found the founder of the US blood test company Theranos guilty of fraud.

The 37-year-old has lured investors with deliberate false allegations about Theranos technology to put money into her company, the jury ruled in her guilty verdict, which was announced on Monday evening (local time) in San Jose, California.

The sentence against Holmes will be announced at a later date.

You face a multi-year prison sentence, up to 80 years would be legally possible.

However, the entrepreneur was not found guilty on all eleven counts, but only on four.

For this reason, among other things, the penalty should be significantly lower.

Holmes founded Theranos in 2003 when he was only 19 years old.

The company promoted fast and inexpensive blood tests with a supposedly revolutionary technology, and Holmes became a billionaire.

Holmes portrays himself as a victim

For years, the young entrepreneur was considered the star of the Californian high-tech center Silicon Valley and was able to attract prominent supporters such as ex-foreign minister Henry Kissinger.

It later became clear that her blood testing machines were not working at all.

In the process, however, Holmes rejected the fraud allegations.

She claimed to have believed in her company's technology.

She also tried to portray herself as a victim when appearing in court.

She had been emotionally and physically abused by her much older business partner Ramesh "Sunny" Balwani, with whom she had also been privately in the meantime.

Balwani is said to be made a separate process.

The prosecution, however, had accused Holmes of "lying and cheating".

"When she ran out of money and time, Elizabeth Holmes decided to lie," Attorney Robert Leach had said in his opening speech.

jok / AFP

Source: spiegel

All business articles on 2022-01-04

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