FMP
Once youngest female self-made billionaire, Elizabeth Holmes, is heading to trial.
Aug 28, 2021 2:14 AM - Davit Kirakosyan
Image credit: FMP
Elizabeth Holmes, the founder and former CEO of Theranos, is heading to trial on September 8, with lawyers scheduled to select juries on Tuesday to decide the fate of the 37-year-old entrepreneur, who is charged with wire fraud and conspiracy.
Theranos reached a valuation of $10 billion in 2015, having around 800 employees and making Holmes the youngest self-made female billionaire.
Holmes, a Stanford dropout, who founded Theranos to revolutionize health care using a desktop analyzer that could perform a full range of accurate and reliable diagnostic tests using just a drop of blood, is now facing 20 years in prison.
According to prosecutors, Holmes misled investors and patients about the company’s technology, raising over $700 million worth of funds from VCs and private investors. Holmes pleaded not guilty and proclaims her actions were not to mislead them.
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