2/18/2023 0 Comments What happened to elizabeth holmesUPDATE : The charges against Holmes and Balwani got narrower after a February ruling. Theranos also faces two counts for wiring test results to Walgreens patients in Arizona, and one for wiring money to a New York-based media firm in New York to buy ads for Theranos Wellness Centers in Arizona. Investors transferred money to Theranos, which the prosecution says was based on fraudulent claims about what they were getting in return. Most of the wire fraud charges concern six transactions. The second conspiracy charge alleges that they schemed to mislead doctors and patients about the speed and accuracy of test results. The first conspiracy charge alleges that the two conspired to defraud investors, allegedly making "numerous misrepresentations to potential investors about Theranos’s financial condition and its future prospects," according to the Justice Department. The government is charging Holmes and Balwani with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. Here is what is going on with the criminal trial. If convicted, she could face decades in prison. Holmes is currently facing 11 criminal charges, including nine counts of wire fraud and two counts of conspiracy to commit wire fraud. 31, and opening arguments got underway Sept. The trial began with jury selection on Aug. Now, they are facing a trial for making misleading claims about their company's ability to accurately test pinpricks of blood for a catalog of diseases. The pair has already been tried in the court of public opinion. Also being charged is former Theranos president Ramesh "Sunny" Balwani. The federal government is taking Elizabeth Holmes to court.Īs you probably know by now, Holmes was the founder and CEO of Theranos, the blood-testing startup featured in the HBO doc The Inventor: Out for Blood in Silicon Valley (as well as a book, podcast, and, eventually, a feature film starring Jennifer Lawrence). This post was originally published on Maand has been updated multiple times.
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