Slash Boxes

SoylentNews is people

posted by martyb on Wednesday January 05 2022, @04:23AM   Printer-friendly
from the the-harder-they-fall dept.

Elizabeth Holmes Found Guilty on 4 of 11 Charges

Elizabeth Holmes found guilty on 4 of 11 charges:

Elizabeth Holmes was convicted today of three counts of criminal wire fraud and one count of criminal conspiracy to commit wire fraud. The jury delivered its verdict after six days of deliberation.

The government's victory in the case is a rare rebuke for tech startups, which often pitch investors on their technological prowess and business acumen using wildly optimistic assumptions.

Theranos was, perhaps, an extreme example, raising over $900 million on the back of claims that its proprietary tests were better, cheaper, and less invasive than the competition. None of those claims was true, and unlike many other Silicon Valley startups, the health and safety of patients was on the line.

Holmes was found guilty of defrauding Lakeshore Capital Management (the family office of the DeVoses) of $100 million, PFM Healthcare (a hedge fund) of $38 million, and an LLC connected to Daniel Mosley (Henry Kissinger's former estate attorney) of $6 million. She was also convicted of conspiracy to commit wire fraud against Theranos investors more generally. On three charges, all alleging wire fraud against investors, the jury returned no verdict. Holmes was acquitted of all other charges, including those that involved defrauding patients. She faces up to 20 years in prison.

With the guilty verdict, Holmes, the founder of the company, is the first Theranos executive to be held criminally responsible for her actions, though she may not be the last.

Original Submission

This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 4, Interesting) by Thexalon on Wednesday January 05 2022, @02:04PM (2 children)

    by Thexalon (636) on Wednesday January 05 2022, @02:04PM (#1210111)

    She's not trans: She is an assigned-female-at-birth cisgender woman.

    Her low voice was something she intentionally adopted, because apparently she learned somewhere that people with internal biases against women are more likely to believe things said at a lower pitch. She might well be right about that, since her technique by all appearances worked until reality caught up with the fact that her stuff never worked.

    The only thing that stops a bad guy with a compiler is a good guy with a compiler.
    Starting Score:    1  point
    Moderation   +2  
       Insightful=1, Interesting=1, Total=2
    Extra 'Interesting' Modifier   0  
    Karma-Bonus Modifier   +1  

    Total Score:   4  
  • (Score: 2) by krishnoid on Wednesday January 05 2022, @06:55PM

    by krishnoid (1156) on Wednesday January 05 2022, @06:55PM (#1210209)

    In that case, I'll ruin the video forever for anyone who watches it:

    Close your eyes, and when she pauses at the end of a sentence, mentally add ", bro."

    Still, probably a good test for how much content a given speech actually has in it.

  • (Score: 0) by Anonymous Coward on Wednesday January 05 2022, @11:11PM

    by Anonymous Coward on Wednesday January 05 2022, @11:11PM (#1210331)

    If you pay attention to politics and media, a number of politicians and talking heads, both male and female, do the exact same thing.