Elizabeth Holmes jailed for fraud

Saturday, 19 November 2022Newsdesk
Elizabeth Holmes jailed for fraud
Theranos founder Elizabeth Holmes has been sentenced to over 11 years in prison for defrauding investors in her blood testing start-up that was once valued at $9bn (£7.5bn).

New Delhi, 19 November 2022

As per news report of BBC, the former Silicon Valley star falsely claimed the technology could diagnose disease with just a few drops of blood. Holmes, 38, who is pregnant, tearfully told the court she felt "deep pain" for those misled by the scam. She was found guilty in January after a three-month trial. Holmes is expected to appeal against the sentence, which was handed down on Friday in a California court. Once hailed as the "next Steve Jobs", she was at one time said to be the world's youngest self-made billionaire. She launched Theranos after dropping out of Stanford University at age 19, and its value rose sharply after the company claimed it could bring about a revolution in the diagnosal of disease.

Source -BBC

Read More >>

If you like the story and if you wish more such stories, support our effort Make a donation.