The woman deceived investors, claiming that her development was capable of performing multiple blood tests with a few drops.
In the United States on Friday, November 18, the founder of the medical startup Theranos, Elizabeth Holmes, was sentenced, found guilty on four of 11 charges of fraud, Reuters reports.
It was noted that US District Judge Edward Davil found Holmes guilty on four counts. The prosecutor asked for a longer term for him – 15 years, while Holmes himself called for a milder punishment – 18 months of house arrest followed by community service.
Prosecutors said in court that Holmes defrauded Theranos’ technology and finances, including by alleging that its miniature blood test machine was capable of performing multiple tests on a few drops of blood.
“The company secretly relied on conventional machines from other companies to test patients,” prosecutors said.
Note that Theranos was once valued at $9 billion, and Holmes was called the youngest female billionaire in 2014. However, after a series of articles in the Wall Street Journal in 2015, the startup collapsed. At trial, prosecutors said Holmes engaged in fraud, lying to investors about Theranos’ technology and finances, instead of reporting the company’s collapse.
The court ruled that Holmes must be jailed until April 27, 2023. He is expected to appeal his sentence.
By the way, Holmes ranked sixth in the ranking of the most famous women of 2015.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.