#Theranos founder elizabeth holmes portable
#Theranos founder elizabeth holmes trial

She misrepresented the financial condition of her company, implying to investors that the company was bringing in revenue on par with expenses. military, when in fact, the military was only studying the potential use of such devices and whether they would be of use. She told investors and journalists that Edison devices were being used on medevac helicopters operated by the U.S. Throughout the three-year period that followed, Holmes forged a logo from Pfizer and other major pharmaceutical companies in a deceptive effort to show that other major companies in the health care industry approved of Theranos’ technology, when in fact most companies passed on opportunities to partner with Holmes.

#Theranos founder elizabeth holmes portable

Prosecutors argued Holmes was running out of money in 2010 and to save her company she began misleading investors and journalists about the efficacy of her portable testing devices. She did not fare as well with the charges involving much larger investments - including $100 million from one and $38 million from another. The jury deadlocked on fraud charges relating to three investors who gave Holmes over $10 million in the final days of 2013. Holmes also dodged one of two conspiracy charges. Jurors largely agreed, though they cleared Holmes on charges related to patients.

It was not only callous, but it was criminal.” She chose to be dishonest with investors and patients. “Elizabeth Holmes made a decision to defraud her investors and then her patients,” Schenk said at the top of a lengthy closing argument. Attorneys Jeff Schenk, Robert Leach and John Bostic, successfully argued that despite Holmes’s obvious diligence in founding and building her company, she made a series of criminal decisions in 2010 through 2013 and lied to investors about Theranos’ portable blood analyzers when she knew the technology was deficient. Once the darling of the news media and the face of female entrepreneurship in Silicon Valley, Holmes is now a convicted fraudster who jurors found lied to investors and patients to try and help salvage her foundering company. The verdict largely corroborates Holmes' very public fall from grace. The 12-person jury deadlocked on three charges and exonerated Holmes on four others.

#Theranos founder elizabeth holmes trial

(CN) - Disgraced Theranos founder Elizabeth Holmes faces decades in prison after a federal jury on Monday found her guilty on 4 of 11 counts of fraud and criminal conspiracy, bringing to an end a trial filled with technical details that began in early September.