Former Theranos CEO Holmes Convicted of Fraud and Conspiracy

Elizabeth Holmes was convicted of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.

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Elizabeth Holmes leaves federal court after the verdict in San Jose, Calif., Monday, Jan. 3, 2022. Holmes was convicted of fraud for turning her blood-testing startup Theranos into a sophisticated sham that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as promised. (AP Photo/Nic Coury)
Image via AP Photo/Nic Coury

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

SAN JOSE, Calif. (AP) — In a case that exposed Silicon Valley’s culture of hubris and hype, Elizabeth Holmes was convicted Monday of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. A jury convicted Holmes, who was CEO throughout the company’s turbulent 15-year history, on two counts of wire fraud and two counts of conspiracy…

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