![]() ![]() The defense team for Holmes sought to counter that image by portraying Holmes as an ambitious entrepreneur who did not knowingly commit fraud, but rather did not understand the shortcomings of Theranos’ complex technology. Theranos founder Elizabeth Holmes leaves the federal courthouse in San Jose during her trial. Meanwhile, investors such as the former US secretary of defense James Mattis said he and others were discouraged from scrutinizing the company for fear of missing out on opportunities. That choice was not only callous, it was criminal.”Īs witnesses, the prosecution called forward Theranos lab directors who testified that their concerns over the technology’s shortcomings were largely ignored. “She choose to be dishonest with investors and patients. “She chose fraud over business failure,” prosecutor Jeff Schenk said in his closing arguments. Starting in late August, throngs of reporters have lined up in the early morning hours for a seat inside the federal court house in San Jose, California.ĭuring the trial, prosecutors painted a picture of Holmes as a strict, power-hungry leader willing to go to any lengths to save her company’s image, repressing internal and external dissent and manipulating the press. ![]() The fall of Theranos has been followed with perhaps even more fervor than its spectacular rise, inspiring multiple documentaries, a feature film, and an upcoming television show. At its height, Theranos was valued at more than $9bn.īut cracks in the glossy surface began to show in 2015 when Wall Street Journal reporting revealed that its in-house tests had massive inaccuracies, and that the company was performing other tests using traditional blood drawing methodology and outside labs. As Theranos grew, the company attracted big-name investors including the former secretaries of state George Shultz and Henry Kissinger. Once a charismatic figure, Holmes was initially hailed as a visionary. But the company ultimately fell short of its ambitious pledge. Holmes founded the company after dropping out of Stanford at 19 years old, promising a revolutionary technology that could run hundreds of health tests on just a drop of blood. Over the course of nearly four months, federal prosecutors called 29 witnesses, outlining missteps and alleged fraud Holmes committed during her 15-year reign as CEO. ![]() She pleaded not guilty and is expected to appeal.Īfter the judge left the courtroom to meet with jurors individually, Holmes got up to hug her partner Billy Evans and her parents before leaving with her lawyers. Holmes, 37, faces prison time, although a sentencing date has not been set. The split verdicts are “a mixed bag for the prosecution, but it’s a loss for Elizabeth Holmes because she is going away to prison for at least a few years”, said David Ring, a lawyer who has been following the Holmes case closely. It also marked an indictment of the hype machine that helped rocket Holmes to fame, as she graced the covers of major magazines, headlined conferences, and drew comparisons to Apple’s Steve Jobs. The verdict seals Holmes’ extraordinary rise and fall and could have wide-ranging consequences for the tech industry. One charge was thrown out earlier in the trial, and the jury did not come to a verdict on the remaining three charges. Holmes was meanwhile acquitted on three charges, including one conspiracy to defraud patients and two charges related to patients who received inaccurate test results. Holmes was found guilty on four charges: one count of conspiracy to defraud investors, and three counts of wire fraud against investors. Her partner, Billy Evans, showed agitation in earlier moments but appeared calm during the verdict reading. In response, Davila encouraged them to deliberate further, but jurors later returned and rendered their final decision.Īs the verdict was read, the Theranos founder bowed her head, remained seated and expressed no visible emotion. On Monday, the seventh day of deliberations, the jury told US district judge Edward Davila that it was unable to reach a unanimous verdict on those three charges. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |