San Francisco: Court finds Elizabeth Holmes, Silicon Valley businesswoman and founder of Theranos Biotech Company, guilty of fraud. It is alleged that they deceived investors into believing that small machines made by Theranos could detect diseases such as cancer and diabetes with a drop of blood from their fingertips.
Elizabeth was once one of the most famous figures in Silicon Valley. They started the Theranos Company at the age of 19. The company, valued at Rs 67,171 crore, had received huge investments from billionaires including media mogul Rupert Murdoch and tech giant Larry Ellison. Between 2010 and 2015, they misled private investors.
However, in 2015, the Wall Street Journal reported that the technology the company claimed was fake. It was after this that the company came under the shadow of suspicion. After a month-long trial in a California court, the court charged Elizabeth with four counts, including conspiracy to commit fraud. These are offenses punishable by up to 20 years in prison. The trial is set to begin next week. They faced 11 charges, including kidnapping members of the public.
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