Former Theranos CEO Holmes convicted of fraud and conspiracy

By MICHAEL LIEDTKE
AP Technology Writer

SAN JOSE, Calif. (AP) — Elizabeth Holmes has been convicted of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. The case exposed Silicon Valley’s culture of hubris and hype. A jury convicted the 37-year-old on two counts of wire fraud and two counts of conspiracy to commit fraud after seven days of deliberation. The verdict followed a three-month trial featuring dozens of witnesses — including Holmes herself. She now faces up to 20 years in prison for each count, although legal experts say she is unlikely to receive the maximum sentence.