January 4, 2022

Theranos founder Elizabeth Holmes was convicted Monday of fraud and conspiracy.

Prosecutors accused Holmes of deliberately lying about the technology she allegedly used to detect diseases with a few drops of blood, and her company raised $900 million from top billionaires and investors through the project.

In addition, prosecutors called about 30 witnesses to prove that Holmes was aware of the product she was offering investors, and several directors testified to investors. Multiple directors also testified about warning Holmes about the flaws in Thanos’ technology.

According to prosecutor Jeff Schenk, Holmes “chose fraud over business failure. She chose to be dishonest with investors and patients. That choice was not only callous, but it was also criminal.”

For more information, read the original story on the BBC.