Elizabeth Holmes found guilty of conspiracy in fraud trial

Theranos founder Elizabeth Holmes has been found guilty of at least one conspiracy charge in the trial over alleged financial fraud that led to the downfall of her company, reports the New York Times.

In a verdict that was delivered on Monday evening, the jury found Holmes guilty of one count of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015.

Holmes was also found guilty of three separate instances of wire fraud involving the transfer of millions of dollars that occurred in 2014.

However, the jury found Holmes not guilty of conspiring to commit wire fraud against patients who paid for Theranos’s blood testing services between 2013 and 2016.

The guilty verdict marks a spectacular downfall for Holmes, who was seen as a rising star in the biotech industry last decade with a company that claimed its technology could perform a wide array of key health tests using just a tiny amount of one person's blood.

However, the company's value quickly crashed after both journalists and independent researchers started raising questions about the validity of Theranos's technology, and the company officially shut down in 2018, the same year that Holmes was arrested and charged with multiple counts of fraud.