Elizabeth Holmes, Guilty Of 4 Charges is a CEO of Blood Tasting Startup 'Theranos' US Biotech
A Biotech company ‘Theranos’ in the US faced the arraignment under 4 charges, Elizabeth Holmes.
Blood Tasting Startup Company was involved in a fraud and was investigated by the regulatory authority of the US and the case was in trial and after seven days of deliberation, announced the verdict finding Elizabeth guilty under the charges of four-count of tricking investors. The case was considered a High Profile case in the indictment in Silicon valley Culture.
Jurors took a total of seven days to deliver their verdict and at last, were found guilty for tricking investors into investing money in a so-called revolutionary testing system.
Highlighted Facts
- Elizabeth Holmes is now hagging in the thread which has 20 years of bars possibility.
- Holmes is the Biotech star who promised to invent a revolutionized health diagnostic.
- Many journals also placed Holmes on the front page of their magazines as the next tech visionary.
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The Blood Tasting Company ‘Theranos’being a healthcare company found guilty of tricking investors is the first health care company that faced such acquisitions.
The panel of Jurors, who had listened to both parties and had seen the evidence, made Elizabeth acquittal of tricking charges of only 4 and couldn’t find the verdict on three others.
A representative outside the court in a preparatory statement by US Attorney Stephanie Hinds and told-
“The guilty verdicts, in this case, reflect Ms. Holmes’ culpability in this large scale investor fraud and she must now [face sentencing for her crimes,” the statement was read by US Attorney.
As in the response against the charges levy to Holmes. She didn’t make any comment regarding the verdict.
As of now, no date has been fixed for sentencing and on the condition of Bail, she is free to attend the next hearing in the week. The 37 years star of the US is now facing the threat of 20 years of bars in Jail for each conviction.
She, at the age of 30 become a billionaire and also get a lot of fame in the media industry which resulted in the photo on the front page of many top magazines in the US. She vowed to the industrialist to revolutionize the healthcare technology of diagnosing the Blood Taste on just a few drops of blood and this fascinated idea attracted the top businessmen and invested in the company ‘Theranos’.
With the help of the magazines’ photo, she collected the mountain of cash but, it all collapsed when the Wall Street Journal report divulged the functioning of the company that it’s not working properly.
The opposition party Advocate called as Prosecutor spent almost 11 weeks presenting dozens of witnesses which told the court that Elizabeth was known of the fact that the company is going to fall short but still she deliberately misled the investors and patients.
The company also used the logo of many other companies like Pizer and Schering- Plough over the report of Blood tasting report as on Therons. And then it was told to investors. And this illegal act was done without taking the permission of the firm. This was the main point for the prosecutor to debate over.
