A file photo of Holmes leaving federal court in San Jose, California, on Dec 23, 2021. 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. — AP
SAN JOSE, California: Fallen Silicon Valley star Elizabeth Holmes was convicted of fraud Monday for turning her blood-testing startup Theranos into a sophisticated sham that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as promised.
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 anything close to the maximum sentence.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
