Elizabeth Holmes (Theranos)
Theranos founder Elizabeth Holmes was convicted of fraud for deceiving investors about her blood-testing technology. She was sentenced to over 11 years in federal prison.
On January 3, 2022, Elizabeth Holmes, the former CEO of blood-testing startup Theranos, was found guilty of four counts of wire fraud and conspiracy to commit fraud against investors.
Holmes had claimed her company's technology could run hundreds of medical tests from a single drop of blood. In reality, the technology didn't work, and Theranos secretly ran most tests on conventional machines.
At its peak, Theranos was valued at $9 billion. Holmes was celebrated as a visionary—the youngest female self-made billionaire. Her board included Henry Kissinger and George Shultz.
Holmes was sentenced to 11 years and 3 months in federal prison. She reported to prison in May 2023. The case became a defining cautionary tale of Silicon Valley hubris.
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