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Elizabeth Holmes, inventor of a method that promised to detect diseases by blood, convicted of fraud

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Silicon Valley entrepreneur Elizabeth Holmes is found guilty of wire fraud and conspiracy for defrauding investors in her failed blood-testing company, Theranos.

Holmes, 37, was acquitted of 4 counts related to defrauding patients and the jury failed to agree on 3 other counts.

Once hailed as the world’s first self-made female billionaire, Holmes claimed the company had developed technology that could detect hundreds of diseases and conditions with just a few drops of blood.

At its peak, Theranos was valued at about $9 billion, and attracted investors such as media mogul Rupert Murdoch. The company was dissolved in September 2018.

Holmes faces up to 20 years in prison and a fine of about $250,000 on each count, though legal experts say he is unlikely to receive the maximum sentence. He will remain free on bail while awaiting sentencing.

The case has brought the Silicon Valley startup culture of “fake it till you make it” under scrutiny.

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