Theranos founder Elizabeth Holmes has been convicted of fraud

From the cover of Forbes to federal prison… it is the case that has rocked Silicon valley

After a landmark trial in California which spanned several months, former entrepreneur Elizabeth Holmes was convicted of defrauding her investors.

Holmes claimed her multibillion-dollar biotech startup, Theranos could detect diseases with a few drops of blood. This true story was immortalised in best selling book “Bad Blood: Secrets and Lies in a Silicon Valley Startup.” The book covers the rise and fall of Theranos. The author John Carreyrou, a two time Pulitzer prize winner, began a series of investigative articles on Theranos back in 2015, and published them in The Wall Street Journal.

The articles questioned the blood-testing startup founded by Elizabeth Holmes and the company’s claim to be able to run a wide range of lab tests from a tiny sample of blood from a finger prick, which led to the downfall of the company.

Prosecutors agreed that Holmes lied about the technology and that despite her claims, she was actually aware that Theranos could not detect diseases with just a few drops of blood.

Jurors found Holmes guilty on four counts, one on conspiracy to commit fraud against investors and she was also found guilty on three charges of wire fraud. The charges carry a maximum prison term of 20 years each, she has denied all of them.

There’s no date confirmed yet for sentencing, and there is a further hearing scheduled next week. The 37-year-old, who once once tipped to be the ‘next Steve Jobs,’ gave birth to her first child last year and according to journalists in the court room she showed little emotion when the verdicts were read out.

Holmes faced 11 charges in total. The jury deliberated for seven days, but could only deliver a partial verdict after being unable to reach consensus on another three counts.