Theranos CEO Elizabeth Holmes convicted on 4 counts of wire fraud against investors
Jury convicted Theranos founder Elizabeth Holmes on four counts of wire fraud (against investors) and conspiracy to commit wire fraud. Acquitted on counts related to patient-victims and several remaining investor counts. Underlying conduct: years of misrepresentations to investors about the capabilities, accuracy, and commercial readiness of Theranos's blood-testing technology, which never functioned as represented. Sentenced November 18, 2022 to 11 years 3 months federal prison; appeals exhausted 2024.