January 28, 2022

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The founder of Theranos, who wanted to revolutionize the blood test, was convicted of fraud – 01/04/2022 08:02 pm

Elizabeth Holmes (d) comes to court in San Jose, California with partner Billy Evans (c) and mother on January 3, 2022 (AFP / Nick Otto)

Elizabeth Holmes (d) comes to court in San Jose, California with partner Billy Evans (c) and mother on January 3, 2022 (AFP / Nick Otto)

Elizabeth Holmes, a former Silicon Valley star who promised to revolutionize blood testing with her start-up Theranos, was sentenced Monday by a California court to fraudulently commonplace in the “tech” world.

After more than three months

Investigation

And during the seven-day debate, a San Jose court jury found him guilty of defrauding investors, but acquitted him of some of the charges and could not accept the other facts on which he was charged.

The sentence puts the 37-year-old woman in jail for decades, but the sentence will be announced later by a federal court.

Judgment “Mrs.

Holmes

In this large-scale fraud, “said Stephen Hinds, a lawyer who was present at the hearing.

Elizabeth Holmes, founder of Theronos start-up San Jose, California, September 8, 2021 (AFP / Nick Otto)

Elizabeth Holmes, founder of Theronos start-up San Jose, California, September 8, 2021 (AFP / Nick Otto)

Elizabeth Holmes is out on bail, the terms of which are due to be reviewed next week. Pressing whether she wanted to appeal her sentence, the fallen boss made no comment when she left the court.

He founded Theranos in 2003 at the age of 19 and promised faster and cheaper diagnostic tools than traditional labs.

Inspired by the profile of this young woman who is rare in the male world of California engineers, with the help of a thoughtful story, she was able to gain the trust of celebrities in a few years and raise funds from valued investors.

In the early 2010s, he wore a black turtleneck sweater that explicitly referred to Apple founder Steve Jobs, who was constantly compared to him when the world of “technology” was at the height of young entrepreneurial pride.

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He was backed by former Secretary of State Henry Kissinger, and former Secretary of Defense James Mattis, or media mogul Rupert Murdoch, who invested more than $ 100 million in Theronos.

Elizabeth Holmes (right), founder of Theranos in San Francisco on October 6, 2015 (Getty Images North America / Mike Windle)

Elizabeth Holmes (right), founder of Theranos in San Francisco on October 6, 2015 (Getty Images North America / Mike Windle)

At its peak, the company was valued at nearly $ 10 billion, with majority shareholder Elizabeth Holmes heading $ 3.6 billion in assets, according to Forbes magazine.

The story was beautiful. As a child, she hated being injected during a blood test. So he will invent a simple, fast and efficient machine that will allow everyone to make hundreds of blood diagnoses from a drop of blood taken from the fingertips.

But in 2015, the Wall Street Journal noted the biggest pot of roses: the amazing machine Theronos promised never worked.

– “Criminal Examination” –

In front of a San Jose court that began the trial in early September 2021, a pregnant woman described her misconception that she had a miscarriage after using one of Theronos’ tests.

Elizabeth Holmes, founder of Theranos start-up, is coming to court in San Jose, California.  September 8, 2021 (AFP / Nick Otto)

Elizabeth Holmes, founder of Theranos start-up, is coming to court in San Jose, California. September 8, 2021 (AFP / Nick Otto)

Employees testified that they warned the employer of any doubts about the operation of the machines. Some have also told the press that Ms Holmes has repeatedly told lies to her teammates and investors.

To some, he incorporated this silicone fence mantra: “Fake until you create it”. Elizabeth Holmes pleaded this good faith in court.

“Before the business collapsed we were on the right track to achieve our goals,” he led. Is not a crime “, his lawyer Lance Wade began at the beginning of the trial for his part.

“Ms Holmes tried to save her company to the end, did not sell a share,” the lawyer added, adding that she wanted the fact that she “sank on the boat” as a testament to her client’s good faith.

The government made a completely different reading of this fairy tale that turned into a financial dream.

Elizabeth Holmes, founder of start-up Theranos, will appear in court in San Jose on August 31, 2021 for arbitration in her fraud trial (AFP / Nick Otto)

Elizabeth Holmes, founder of start-up Theranos, will appear in court in San Jose on August 31, 2021 for arbitration in her fraud trial (AFP / Nick Otto)

“Mrs. Holmes chose fraud rather than bankruptcy, she chose to be dishonest,” attorney Jeff Shenk attacked in his claims. “This choice is not only ruthless, it is also a crime,” he told the jury.

According to the attorney’s office, the former entrepreneur deliberately deceived his associates and raised more than $ 700 million in total.

In response, Elizabeth Holmes assured the jury that her love affair with her former director Ramesh “Sunny” Balwani – who will be interrogated separately – involved forced sex and that she was responsible for the problems. .

in bur-gc / led / ybl