The world’s youngest self-made billionaire might face an 80-year prison sentence as Elizabeth Holmes promised to revolutionize blood testing, but it turned out to be a media “bang”.
In addition, the “Wall Street Journal” revealed that Holmes is a “false and fraudulent” regarding allegations regarding rapid and accurate blood tests, and the discovery of serious diseases with a few drops of blood.
Holmes was found guilty by a California jury on 4 out of 11 counts of conspiracy and electronic fraud, each with a maximum sentence of 20 years.
Founded a $9 billion company
Elizabeth Holmes rose to the throne of glory in 2014 at the age of thirty. She left Stanford University and built a $9 billion company to revolutionize disease diagnosis.
With just a few drops of blood, Theranos promised that its Edison test might detect diseases like cancer and diabetes quickly without suffering from the many needle pricks, and VIPs such as former US Secretary of State Henry Kissinger and famous media mogul Rupert Murdoch have invested in its company.
accusation of fraud
But by 2015, things started falling apart, and within a year, Holmes was accused of fraud, the technology she promoted had never worked, and by 2018, the company she founded had collapsed.
Now Holmes has been convicted of defrauding investors following a landmark months-long trial in California. Prosecutors said Holmes deliberately lied regarding the technology, which she said might detect diseases with a few drops of blood. A jury found Holmes guilty of conspiracy to defraud investors, and of three counts of electronic fraud.
