SAN FRANCISCO, Jan 4 — Fallen US biotech star Elizabeth Holmes was convicted today of defrauding investors in her blood-testing startup Theranos, in a high-profile case seen as an indictment of Silicon Valley culture.
Jurors took seven days of deliberations to reach their verdict, finding her guilty of four counts of tricking investors into pouring money into what she claimed was a revolutionary testing system. She was hailed as the next tech visionary on magazine covers and collected mountains of investors’ cash, but it all collapsed afterProsecutors spent 11 weeks presenting over two dozen witnesses, as they painstakingly laid out their argument that Holmes knew her technology fell short, and deliberately misled investors and patients.
The defence called only one significant witness, Holmes herself, as it argued the fallen entrepreneur had genuinely believed in Theranos’s vision, invested herself heavily in its success and had simply failed. He is due to stand trial separately for his role in the company’s operations and has pleaded not guilty.
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