January 7, 2022

USA: On Monday, Former Theranos CEO Elizabeth Holmes Found Guilty Of Fraud And Conspiracy. Theranos’ Board Members Were A Who’s Who Of Commie Loving Political And Military Power Players.

60 Minutes published published January 4, 2022: Elizabeth Holmes and The Theranos Deception. Elizabeth Holmes has been found guilty on four counts of wire fraud.

In 2018, Norah O’Donnell reported on Theranos, the company led by Holmes with a blood-testing machine that could never perform as touted that went from a billion-dollar baby to a complete bust.
60 Minutes Australia published August 8, 2021: Elizabeth Holmes exposed: the $9 billion medical ‘miracle’ that never existed.

Breitbart News
written by Rebecca Mansour
Monday January 3, 2022

A federal jury convicted former Theranos founder and CEO Elizabeth Holmes on four counts of fraud and conspiracy Monday, ending the lengthy trial in Silicon Valley of a woman once hailed by the media as the next Steve Jobs.

The jury found Holmes guilty on three counts of wire fraud and one count of conspiracy to commit fraud. Jurors found her not guilty of four other charges involving patients, including one charge of conspiracy to commit wire fraud and three charges of wire fraud. The jury was deadlocked on the three remaining charges related to investors.

The Wall Street Journal reports:
The jurors convicted Ms. Holmes on the three counts related to the largest investments. These included about $100 million from a family office of former Education Secretary Betsy DeVos; $38 million from PFM Health Sciences LP, a hedge fund that invested $96 million in Theranos and recovered $43 million in a 2016 civil lawsuit against the company; and about $6 million from Daniel Mosley, a former estate lawyer who connected Theranos to his wealthy clients, who invested nearly $380 million dollars into Theranos.

…

The jury wasn’t fully convinced by testimony from other investors who said they had invested even after Ms. Holmes rebuffed their requests for more information, which defense lawyers said showed negligence on their part.

Ms. Holmes was exonerated on all accounts related to patients. Testimony from the three patients who received what they called false test results was limited, and the role of their healthcare providers in ordering and interpreting their tests may have also tripped up jurors, legal experts say.
Holmes, who had bowed her head several times before the jury was polled by the judge, remained seated and expressed no visible emotion as the verdicts were read. Her partner, Billy Evans, showed agitation in earlier moments but appeared calm during the verdict reading.

After the judge left the courtroom to meet with jurors individually, Holmes got up to hug her partner and her parents before leaving with her lawyers.

The jury of eight men and four women who determined Holmes’ fate spent much of their holiday season behind closed doors in a San Jose, California, courthouse, weighing reams of evidence presented during the three-month trial of Holmes, a former Silicon Valley star facing up to 20 years in prison for each guilty count.

Holmes, 37, was charged with 11 criminal counts alleging that she duped investors and patients by hailing her company’s blood-testing technology as a medical breakthrough that could detect a wide-range of diseases and medical conditions with just a few drops of blood taken from a finger prick instead of tubes of blood taken from a needle inserted into a vein. Investors were led to believe that Theranos’ “miniLab” device could revolutionize a blood-testing industry dominated by companies like Quest Diagnostics and Labcorp by making testing simpler, cheaper, and less intrusive. Holmes eventually partnered with Walgreens and Safeway to bring this finger prick blood testing to the masses. In reality, however, the miniLab device Theranos created was prone to wild errors, and most of the tests the company performed for Walgreens’ customers were done using third-party machines.

Before those problems were exposed in 2015 and 2016 by stories in the Wall Street Journal by reporter John Carreyrou and by a regulatory audit, Holmes briefly realized her aspirations for fame and fortune while raising more than $900 million from a list of renowned investors that included media mogul Rupert Murdoch, software mogul Larry Ellison, the family of former Education Secretary Betsy DeVos behind the Amway fortune, and the Walton family behind Walmart.

At Theranos’ height, Holmes had amassed a fortune of $4.5 billion on paper and was lionized as a visionary in glowing media coverage that included a famous cover story in Forbes magazine and a profile in the New Yorker.

Federal prosecutors argued that Holmes used this positive media coverage to lure the investors she is now convicted of defrauding.

Holmes’ rise to power was abetted by glowing media coverage and bolstered by the reputations of the board of directors she assembled.

Theranos’ board members were a who’s who of political and military power players. Their numbers included former U.S. Secretaries of State George Shultz and Henry Kissinger, former U.S. Senate Majority Leader Bill Frist, former Secretary of Defense William Perry, former U.S. Senate Armed Services Committee Chairman Sam Nunn, former Navy admiral Gary Roughead, and former Defense Secretary and four-star general James Mattis, all of whom sang Holmes’ praises before her fall from grace.

As Carreyrou explained in his book Bad Blood, these board members were “men with sterling, larger-than-life reputations who gave Theranos a stamp of legitimacy. The common denominator between all of them was that, like Shultz, they were fellows at [Stanford University’s] Hoover Institution.”

The vote of confidence and effusive praise from these men boosted Holmes’ credibility with Fortune magazine writer Roger Parloff, who wrote the first major media profile of Holmes.
Mattis told Parloff that Holmes “has probably one of the most mature and well-honed sense of ethics—personal ethics, managerial ethics, business ethics, medical ethics that I’ve ever heard articulated.” Holmes was also celebrated by the Obama administration during her rise to fame. Then-Vice President Joe Biden toured the Theranos lab in Newark, California, in 2015, praising Holmes for “empowering people” to “take control of their own health.”
In April 2015, the Obama White House invited Holmes to the state dinner for Japanese Prime Minister Shinzo Abe.

President Obama named Holmes as a Presidential Ambassador for Global Entrepreneurship in July 2015.
The Obama White House published July 27, 2015: Presidential Ambassador for Global Entrepreneurship (PAGE) and founder and CEO of Theranos, Elizabeth Holmes speaks about her Signature Initiative on empowering women in science, technology, mathematics and business as well as working on breakthroughs in global health. PAGE is a group of America’s most respected business creators who have committed to sharing their time, energy, ideas, and experience to help develop the next generation of entrepreneurs around the world. U.S. Secretary of Commerce Penny Pritzker chairs the PAGE initiative.
During the trial, federal prosecutors depicted Holmes as a charlatan obsessed with fame and fortune. Holmes, who took the witness stand in her own defense for seven days, cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani.

The fraud-friendly business ethos of Silicon Valley was also put on trial in the Holmes’ case, which cast Theranos as emblematic of the “fake it ’til you make it” attitude that defined the rise of big tech companies like Google, Netflix, Facebook, and Apple. In fact, Holmes idolized Apple co-founder Steve Jobs to the point of imitating Jobs’ trademark black turtle necks, as she did in her famous Fortune magazine cover image.

Earlier on Monday, the jury informed the court that they were deadlocked on three of the 11 counts Holmes was charged with. After conferring with lawyers for the defense and prosecution, U.S. District Judge Edward Davila instructed jury members to do their best to reach a verdict, noting that they should re-examine their own views and change their opinions if persuaded they are wrong. He also reminded them that charges must be proven beyond a reasonable doubt.

Jurors then returned to their deliberations and ultimately reached a verdict late Monday afternoon.
Breitbart News published January 4, 2022: Corporate Media Gushed Over Theranos Fraudster Elizabeth Holmes. The meteoric rise of former Theranos founder and CEO Elizabeth Holmes, who was found guilty of fraud by a federal jury on Monday, was abetted by glowing coverage from establishment media.

Breitbart News
written by Simon Kent
Tuesday January 4, 2022

The fraud conviction of former Theranos CEO Elizabeth Holmes confirms that even the biggest names in establishment politics, tech and global business are not immune to falling for somebody who over-promises but ultimately under-delivers.

Holmes was found guilty on Monday of duping investors into believing her company Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.

She could now face up to 20 years in prison for each charge, although legal experts say she is unlikely to receive the maximum sentence, as Breitbart News reported.

So who was behind her? Who provided the tens of millions of dollars necessary to underwrite what the court found was a massive, overarching lie built on rainbows and unicorns?

Holmes wooed a well-connected board that included two former U.S. secretaries of state, Henry Kissinger and the late George Shultz: two former secretaries of defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich.

Rupert Murdoch was an investor along with software magnate Larry Ellison, as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway. New England Patriots owner Robert Kraft was there too.

She charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab.
Details of Joe Biden’s 2015 visit were highlighted by Theranos, including his effusive praise for Holmes, as an example of what moths could be drawn to her flame.

“Talk about being inspired. This is inspiration. It is amazing to me, Elizabeth, what you’ve been able to do,” Biden said, as Breitbart News reported.
In April 2015, Holmes was invited to the White House state dinner with Japanese Prime Minister Shinzo Abe.

The deception backfired later that year after a series of explosive articles in the Wall Street Journal and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company’s technology, leading to its eventual collapse.

During her testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but she often contended that she had forgotten the circumstance surrounding some of the key events spotlighted by the prosecution.

She insisted she never stopped believing that Theranos was on the verge of refining its technology.

The court found differently on Monday.

It sent a clear message to Silicon Valley founders and those who seek to follow them – consequences will follow when you say things to investors that aren’t true.

Judge Edward J. Davila, who presided over the trial, is expected to sentence the fallen entrepreneur at a later date. The 37-year-old could face decades behind bars.

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HBO published February 15, 2019: The Inventor: Out for Blood in Silicon Valley (2019) | Official Trailer |

HBO From Academy Award-winning director Alex Gibney comes a documentary about the rise and fall of Theranos, the one-time multibillion-dollar healthcare company founded by Elizabeth Holmes. Premieres March 18 on HBO.
Fortune Magazine published November 2, 2015: Elizabeth Holmes defends Theranos amid media scrutiny at Fortune's Global Forum. The CEO sits down with Fortune's Alan Murray to discuss setbacks the company has had concerning its blood tests.
ABC News published January 24, 2019: Ex-Theranos CEO Elizabeth Holmes says 'I don't know' 600+ times in depo tapes. In never-before-broadcasted depositions, attorneys for the Securities and Exchange Commission ask Holmes questions about whether she helped orchestrate an "elaborate, years-long fraud."
Sounds like a Communist Democrat response for everything. Or they take the 5th always when caught doing something criminal like Communist Democrat Lois Lerner, the head of IRS division that oversees nonprofit groups plead the 5th after being caught in a conspiracy to target and block Conservative TEA party nonprofit groups from getting approved. Lois Lerner claimed her hard drive crashed and lost all email evidence just like Hillary Clinton deleted 33,000 supoenaed emails and had staff smash 13 mobile devices with evidence. Congress was able to get evidence needed from IRS employees who sent and received internal email with Lois Lerner. "Over 40 Conservative Tea party groups settled out of court with the IRS and in a second case 428 Tea party groups reached a substantial financial settlement with the government on behalf of the IRS. The IRS actually issued a public apology for "aggressive scrutiny of Conservative group." (emphasis mine)
Fox Business published August 13, 2018: IRS to pay $3.5M to settle Tea Party-targeting claims.
Media Buzz published October 24, 2017: Lois Lerner Pleads the 5th NINE TIMES Then Chaos and Screaming Erupts!

Posted by Princess Mononoke at 3:10 PM

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