Elizabeth Holmes found guilty of fraud

I’m surprised this took so long.
This woman and her company were making promises that any sane person in the industry should have seen right through.
Promises and a fancy presentation might sell stocks but they don’t actually make the science available to fulfill those promises.

“ The jurors in Elizabeth Holmes’ criminal fraud trial reached a verdict on Monday after seven days of deliberations spanning more than 50 hours.
Holmes was found guilty of four of the 11 charges.
The jury told the judge earlier on Monday that they deadlocked on three counts.”

“SAN JOSE, Calif. — Theranos founder Elizabeth Holmes, the one-time billionaire and darling of Silicon Valley who promised a revolutionary blood testing technology, has been found guilty of four charges in her criminal fraud trial.“




This is also a perfect example of how someone can be “worth” a lot of money but really aren’t worth much more than paper.
Stock in a company that never pays dividends.
Elon musk comes to mind…. Musk-rats aka fan boys, love this man.

One of the biggest things in her favor was that she never sold her shares and that will probably get her out of jail before she turns 60.


www.cnbc.com...




www.cnn.com...

a reply to: Bluntone22

Hehe... thanks for editing the link in

a reply to: Bluntone22



Here is a good video telling the story and downfall of theranos

I don't feel sorry for this lady but this is being prosecuted only because a lot of wealthy people got duped. This kind of #e happens all the time with scammers fleecing the average Joe out of a few hundred dollars at a time. That never gets fixed.

Too bad she couldn't take the money and run.

a reply to: Bluntone22

Perhaps not so ironic considering that her father was a VP at none other than...wait for it... Enron!!

I guess the apple really doesn't fall very far from the tree!!!

LOL!

a reply to: Bluntone22

Too bad politicians can't be charged with criminal fraud.

I've been following this case pretty carefully because I also work in the Medical Device industry. It's obvious she defrauded investors with her sketchy power-point presentations and flat-out lies. However, I do believe that she honestly thought she could use her force-of-will to bring the Theranos device into existence. The concept IS revolutionary. She tried to be Steve Jobs. Unfortunately she was way ahead of the technology and took after her father instead.

Never heard of her. But if she’s from Silicone Valley lock her up and lose the key

Can't help but wonder how much of that money made it off shore.

In that situation, I'd have put the vast majority of it off shore...

originally posted by: Bluntone22
This is also a perfect example of how someone can be “worth” a lot of money but really aren’t worth much more than paper.
Stock in a company that never pays dividends.
Elon musk comes to mind…. Musk-rats aka fan boys, love this man.

It feels kind'a weird, but I sort'a like Musk. Certainly liked the way he addressed Senator Karen the other day. He claims to be paying more tax than any other US citizen in history (this year alone). I'd say that makes him a bonafide rich guy. I also liked hearing him say he never 'sheltered' any of his monies. Sounded more like he was 'tossing' the gauntlet at the other rich guys.

As for Holmes: I wonder how all the duped felt? The obvious alchemy involved in what she was claiming was so overboard I couldn't believe the stock price took off like a rocket. Still seems like a head-fake to me.

a reply to: Snarl

One comment on Musk I saw a video where he claims he lives in a small MOD Home and sold all his other properties except for one in SF that he rents out for events. Unsure if it is all true or not but he seems to show at least a little concern and does some things to back it up. He is a bit eccentric but I have a gut feeling he is a good guy but also unsure of he is 100% human.

For the Holmes topic, my wife works in the Biotech field and works with a few people that interviewed with Holmes for some openings she had right when some of the accusations starting coming out. They said right off the bat they got a bad feeling and felt something was off not only with her but the technology. They also felt a little weird around her and my wife mentioned she had crazy eyes and they agreed.

originally posted by: Iamonlyhuman
a reply to: Bluntone22

Too bad politicians can't be charged with criminal fraud.

Nancy Pelosi has made millions using privileged information to make stock trades. Just the other day she defended the practice.

As for Musk, I wonder if he's got some good blackmail info on the top SEC officials, since he spent years making promises his company couldn't deliver, and an awful lot of what he did looks like stock market manipulation to me.