May 25, 2022

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An American tech entrepreneur has been found guilty of fraud

An American tech entrepreneur has been found guilty of fraud

A jury in a San Jose court found her guilty of four counts of fraud and conspiracy Tuesday night.

She was acquitted on four other charges, while the jury failed to agree on the other three charges.

Holmes showed no emotional signs when the jury’s decision was clear.

Holmes was a superstar in the tech industry, and the company she started when she was 19 was worth billions of dollars. Theranos was set to revolutionize medical testing with a new device that could deliver results cheaper and faster than traditional laboratories and perform a wide range of tests with just a few drops of blood.

But the machines did not deliver what the company promised, and the adventure ended in ruin and allegations of fraud and deception for the company’s investors and customers.

Holmes was the youngest woman to make a fortune in excess of $1 billion in the United States.

The trial was about whether Holmes was a fraud who deceived investors in Theranos, or whether she herself was a victim. According to her apologists, Holmes was controlled and mentally abused by Ramesh Palwani, who was her boyfriend and business partner. He is accused in a separate case of defrauding investors and clients of the company.

(© NTB)

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