Elizabeth Holmes Convicted of Fraud

The Silicon Valley region, located in the city of San Francisco in the United States, where the world’s technology pioneers originate, was also the address of a major fraud case until recently. who was only 19 years old in 2003 Elizabeth Holmes A woman named Theranos promised to perform blood tests quickly and accurately with only a small amount of blood sample, using tiny automated devices.

This promise of Elizabeth Holmes was a complete lie. Moreover, the deception of this fraudulent story, which once made her the richest woman in the world, came to light in 2015, 12 years after the company was founded. As the story unfolded, Holmes had by then achieved $4.5 billion wealth was taken from him. After lengthy lawsuits, the company he founded was also closed. But the case against Holmes has continued to this day.

At last the trial was over, Elizabeth Holmes was found guilty:

Holmes’ trial, whose indictment was finalized in June 2018 due to Holmes’ pregnancy and COVID-19, only began on 31 August. Holmes, with a total of 11 charges faced. Prosecutors claimed that Holmes knowingly lied about the technology he developed. Jurors found Holmes guilty on four different charges. These crimes include conspiracy to defraud investors and three electronic fraud charges. 37-year-old Holmes could face up to 20 years in prison envisaged.

Holmes denied all charges against him. During the four-month trial, two very different narratives were presented to the jury of eight men and four women. Prosecutors deliberately called Holmes’ 30 witnesses to the jurors. selling the fraudulent product to investors tried to prove it. In the closing speech of the case, which lasted four months and ended today, Prosecutor Jeff Schenk used the following statements:

“Holmes chose fraud over failure. He chose not to be honest with investors and patients. Holmes told his investors that the technology is working as they planned.”

In the case, the defense also made interesting claims to protect Holmes. On Holmes’ defense, which creates a break in a male-dominated industry and creates the image of a dedicated woman, Holmes takes the lead in Theranos’ technology. admitted mistakes but not their patients or investors. not knowingly cheating He claimed.

Most recently, Holmes married her former business partner and ex-boyfriend, Ramesh Sunny Balwani, who is 19 years older than her. accused of emotional and sexual harassment. The trial of Balwani, the former head of Theranos, will begin next month.

The fraud story of Elizabeth Holmes will also be screened by Apple as a movie.