Theranos Founder Elizabeth Holmes Found Guilty in Fraud Trial | TMZ
Theranos founder Elizabeth Holmes has been found guilty on 4 out of 11 fraud charges. The infamous CEO of the blood-testing startup, Theranos, was facing charges including wire fraud for deceiving investors.
The billion-dollar company made promises it could conduct cheaper blood testing, but was later revealed its devices could only perform only 12 tests, instead of Holmes’ claim of 1,000. Theranos shut down 3 years later.
Holmes now faces up to 20 years behind bars for each guilty verdict, although it’s unlikely she’d get the max sentence. Her legal team is vowing to appeal.
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