Elizabeth Holmes guilty verdict: Theranos case highlights the importance of peer review for biotech entrepreneurs, scientists say
Theranos founder Elizabeth Holmes and her lawyer leave the courthouse in San Jose, California, on 3 January.Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. The Theranos founder intentionally deceived investors, a US federal jury concluded yesterday after a nearly four-month trial. Holmes probably faces up to 20 years in prison and a hefty fine. She has not yet been sentenced.
for exaggerating claims. “It’s an example of how a supposedly huge company with a US$9-billion valuation went down the drain because of a series of mistakes.”Holmes founded Theranos in 2003 at the age of 19, shortly before dropping out of Stanford University in California. Her goal was to build a company that would make blood tests available directly to consumers. She wanted to eliminate the large needles and tubes of blood required to operate standard diagnostic devices.
On 3 January, a federal court in San Jose, California, found Holmes guilty on 4 of the 11 charges brought against her by prosecutors: 3 for wire fraud — a scheme intended to obtain money under false pretences using a method of remote communication such as e-mail — against investors and one for conspiracy to commit wire fraud against investors.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elizabeth Holmes’ verdict won’t change Silicon ValleyNothing about the result of this trial is going to prevent the next Theranos from bilking investors.
Read more »
What scientists say about Elizabeth Holmes guilty verdictElizabeth Holmes guilty verdict: Theranos case highlights the importance of peer review for biotech entrepreneurs, scientists say
Read more »
'Enola Holmes 2' Wraps Filming, Millie Bobby Brown and Louis Patridge CelebrateMillie Bobby Brown and Louis Partridge are celebrating the wrap of 'Enola Holmes 2' in a new video from Netflix.
Read more »
What scientists say about Elizabeth Holmes guilty verdictElizabeth Holmes guilty verdict: Theranos case highlights the importance of peer review for biotech entrepreneurs, scientists say
Read more »
Elizabeth Holmes’ verdict won’t change Silicon ValleyNothing about the result of this trial is going to prevent the next Theranos from bilking investors.
Read more »
Conservative author Arthur Brooks says it's time to depoliticize COVID-19 vaccineNoted author and social scientist Arthur Brooks says it's time to depoliticize the COVID-19 vaccine, and time for the Biden administration to start over with its public health advisory team.
Read more »