Trial Begins For Theranos Founder Elizabeth Holmes
Newsy
Holmes faces 12 wire-fraud related charges and up to 20 years in prison for duping investors in her "revolutionary" blood testing biotech startup.
Opening statements are scheduled for Wednesday in the highly anticipated trial of Theranos founder Elizabeth Holmes, the fallen tech star accused of duping financial backers, customers and patients into believing that her startup was about to revolutionize medicine. Holmes arrived at the courthouse amid a media scrum. If convicted by a jury, she could be sentenced to 20 years in prison — a stunning reversal of fortune for an entrepreneur whose wealth once was pegged at $4.5 billion. That amount represented her 50% stake in Theranos, a Palo Alto, California, biotech startup she founded in 2003 after dropping out of Stanford University at the age of 19.More Related News