One-time billionaire, Elizabeth Holmes facing 20 years in prison for fraud

One-time billionaire, Elizabeth Holmes facing 20 years in prison for fraud



An entrepreneur once dubbed the 'world’s youngest female self-made billionaire' faces two decades in prison as she awaits a fraud trial.



Elizabeth Holmes, 37, is accused of lying to patients and investors of her medical tech start-up, Theranos, which at one point was valued at £6.6billion.



Theranos promised to run hundreds of medical tests using a single drop of blood using its technology, but it never lived up to expectations, and may never have worked at all.



Holmes is alleged to have overhyped claims about the company’s financial performance, before it went bust in 2018.







Her major investors included Rupert Murdoch, who put in $121million and the Walmart’s Walton family, who invested $150million (£109million).



More than $700million (£500million) was put in altogether by venture capitalists, but this proved to be totally worthless when the company collapsed.



Holmes started promoting her product from 2013, when she was just 29 years old, and she ended up on the covers of business magazines such as Forbes, Fortune and Inc.Latest Post
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