Elizabeth Holmes found guilty, now faces 80 years in prison

The famous founder of Theranos, whose miracle technology was supposed to revolutionize blood diagnostics, was found guilty by the jury of defrauding investors and colluding. Although several charges against Elizabeth Holmes have fallen in court, in theory, she faces up to 80 years in prison.

A jury in a federal court in San Jose, California, upheld the charges of the prosecution, which accused Elizabeth Holmes of deceiving Theranos investors that the company had developed a unique technology for conducting comprehensive diagnostic tests based on a single drop of blood.

Theranos is one of the biggest stock exchange scams in recent years and at the same time a great stone for the garden of the media and stock market analysts who were so enchanted by the young businesswoman that they forgot about a critical approach to her company's business model and the verification of her declarations.

The company from Palo Alto, i.e. from the very heart of Silicon Valley, gained fame thanks to the declaration that the devices it developed can quickly perform a full range of tests using just a single drop of blood. The company was founded in 2003 by 19-year-old Elizabeth Holmes, who quickly became a media favorite, a stock exchange star, and a frequenter of the most prestigious economic congresses in the world.

(bizblog)