America: accused investors in the name of startup, court sentenced to 11 years

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- The company promised to revolutionize the blood testing sector and duped investors in its name

New delhi date. 19 November 2022, Saturday

Elizabeth Holmes, the CEO of American blood testing startup company Theranos, has been sentenced to 11 years in prison by a court in San Jose, California. American biotech star Elizabeth Holmes is accused of defrauding her investors. Let it be known that Elizabeth's startup company Theranos was closed in 2018 itself. The company promised to revolutionize the blood testing sector and duped investors in its name.

What is the whole matter?

Holmes, 38, was convicted in January after a three-month trial. Holmes started the startup company Therazone in 2003. At the time, Holmes claimed that his company had developed a blood analyzer that could be carried anywhere and could easily perform blood tests. Apart from this, this startup has also claimed that once the blood is taken from the finger, all the diseases of the body can be easily known. After this claim, investors bet heavily on Holmes' startup and received a bumper investment. However, later all these things turned out to be false and the matter went to court. The case dragged on for several years and then the verdict was delivered in January this year.

What did Elizabeth Holmes say?

Elizabeth Holmes founded Theranos in 2003 at the age of 19. He subsequently received much acclaim in Silicon Valley. Holmes quickly became the world's youngest female billionaire. Let us tell you that after hearing the prison sentence, Holmes hugged her husband Billy Evans and became emotional. Weeping in court, Holmes said he would have done many things very differently if he had had the chance. I have disappointed many people. Shame on people for what they have to endure.


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