Business & Finance / 05 January 2022
Elizabeth Holmes guilty of fraud
It was back in 2018 that federal prosecutors in the US brought criminal charges against the US$9 billion blood-testing company founder, and the trial eventually got off the ground in September last year. Since then, the jury heard sensational evidence, including Holmes’ account that she was abused and dominated by her partner/Theranos colleague Sunny Balwani (whose separate fraud trial kicks off mid-next month). But after all that and 7 days of deliberating, they agreed that she defrauded her investors (including some big names like News Corp boss Rupert Murdoch) by lying about technology she said could detect an enormous range of diseases with just a few drops of blood. She was found not guilty of the charges relating to defrauding the public. Holmes is yet to be sentenced – a date for that has not been set. And journo John Carreyrou – the bloke whose investigation into the company set this in motion – is on the hunt for the inside story…
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