A file photo of Holmes leaving federal court in San Jose, California, on Dec 23, 2021. A jury convicted the 37-year-old on two counts of wire fraud and two counts of conspiracy to commit fraud after seven days of deliberation. — AP
SAN JOSE, California: Fallen Silicon Valley star Elizabeth Holmes was convicted of fraud Monday for turning her blood-testing startup Theranos into a sophisticated sham that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as promised.
A jury convicted the 37-year-old on two counts of wire fraud and two counts of conspiracy to commit fraud after seven days of deliberation. The verdict followed a three-month trial featuring dozens of witnesses – including Holmes herself. She now faces up to 20 years in prison for each count, although legal experts say she is unlikely to receive anything close to the maximum sentence.
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