BREAKING: U.S. jury finds Theranos founder Elizabeth Holmes guilty of conspiring to defraud investors in the blood testing startup. Holmes was convicted on four of 11 counts, acquitted on four counts and the jury could not reach a decision on three counts
Prosecutors said Holmes, 37, swindled private investors between 2010 and 2015 by convincing them that Theranos' small machines could run a range of tests with a few drops of blood from a finger prick.Holmes was also charged with misleading patients about the tests' accuracy.Wealthy private investors including media mogul Rupert Murdoch invested millions in the company after meeting with the founder who was known for her Steve Jobs-like black turtleneck.
She had pleaded not guilty to nine counts of fraud and two counts of conspiracy. Balwani also has pleaded not guilty and will be tried at a later date. Prosecutors said had Holmes been truthful with investors and patients, the venture never would have attracted critical funding and revenue.
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