She's not hot, but I give her credit for the lack of pointy elbows.

Guilty on 4 out of 11 charges: https://www.cnn.com/2022/01/03/tech/...ict/index.html

Paywalled article from NYT breaks out the verdict for each charge:

Count one of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015: Guilty.

Count two of conspiring to commit wire fraud against patients who paid for Theranos’s blood testing services between 2013 and 2016: Not guilty.

Count three of wire fraud in connection with a wire transfer of $99,990 on or about Dec. 30, 2013: No verdict.

Count four of wire fraud in connection with a wire transfer of $5,349,900 on or about Dec. 31, 2013: No verdict.

Count five of wire fraud in connection with a wire transfer of $4,875,000 on or about Dec. 31, 2013: No verdict.

Count six of wire fraud in connection with a wire transfer of $38,336,632 on or about Feb. 6, 2014: Guilty.

Count seven of wire fraud in connection with a wire transfer of $99,999,984 on or about Oct. 31, 2014:Guilty.

Count eight of wire fraud in connection with a wire transfer of $5,999,997 on or about Oct. 31, 2014: Guilty.

Count nine was dropped.

Count 10 of wire fraud in connection with a patient’s laboratory blood test results on or about May 11, 2015: Not guilty.

Count 11 of wire fraud in connection with a patient’s laboratory blood test results on or about May 16, 2015: Not guilty.

Count 12 of wire fraud in connection with a wire transfer of $1,126,661 on or about Aug. 3, 2015: Not guilty.

Guilty: causing extremely rich people to lose money on their terrible investments

Not Guilty: killing thousands(?) of common peasants


'MURICA

Anyone here know the procedure for securing conjugal visits in the federal penal system? Asking for a friend.

I think it involves a round glass cutter.

https://archive.vanityfair.com/artic...175.1627096888

The CNBC series "American Greed" will air an episode later tonight (check local listings) profiling Elizabeth Holmes and her failed blood testing company: Theranos. Ms. Holmes was convicted of criminal fraud last week and now faces up to 20 years in prison for defrauding some of the most supposedly astute investors in the United States including such luminaries as Rupert Murdoch, Betsy DeVos, the Walton family of Wal Mart fame, and many others. John Carreyrou, the Wall Street Journal reporter who exposed Ms. Holmes as a fraud, works for one of Ms. Holmes' victims: Rupert Murdoch. (Mr. Murdoch owns the Wall Street Journal as well as News Corporation, the parent company of the Fox News Channel.)

Carreyrou wrote a bestselling book, (i.e., "Bad Blood"), which details how the truth about Elizabeth Holmes and Theranos was uncovered. A movie starring Jennifer Lawrence as Elizabeth Holmes is currently in production.

Some of the [many] "investors" taken in by Elizabeth Holmes were hedge fund managers and private equity firms ran by supposedly "smart" Wall Street types who apparently failed to perform basic [obligatory] due diligence before plopping down their investor's money. Even the financial press was taken in ... (I remember when Fortune magazine ran a cover story entitled "This CEO is Out for Blood" with a picture of Ms. Holmes holding a small vial of blood between her fingers as she intently gazed into the camera.) After Carreyrou's articles began appearing in the WSJ, Roger Parloff, the Fortune magazine writer who wrote the feature story on Ms. Holmes, was forced to pen an embarrassing apology in which he confessed that he had been "lied to" and deceived by Ms. Holmes. Elizabeth also hoodwinked a number of prominent men who she persuaded to serve on her Board of Directors. Ms. Holmes made them all look like idiots.

When Elizabeth Holmes was a child she wrote in her diary that her ambition was to become a billionaire. Once her company reached a market valuation of 9 billion, she was a billionaire - until it all came crashing down. (I wonder if she could have fooled Mark Cuban, Laurie Greneir, and Kevin O'Leary if she had tried to pitch her company on "Shark Tank"? Ha! Ha!)

There's already a thread on this. She couldn't fool skeptics, which was why the rockstar board was so important.

"This all seems like absolute bullshit, but Henry Kissinger and General Mattis are on the board... so maybe I'm just overthinking this. Sure, here's $800k."

Anyone with medical knowledge knew she was full of it. Theranos would've gotten a deal on Shark Tank for sure via their smoke and mirrors with the initial machines, but it would've been one of the many deals that fell apart after airing during the due diligence phase.

I read the book, and welcome any recommendations for similar ones from other fields. I'm sure this happens a LOT. Interesting stuff.

I can recommend a great book about the biggest scam ever pulled in history. It's called The God Delusion.

There's being edgy or attempting wit, and then there's just being a dick.

We can't blame every faux pas on your booze-addled brain. I suspect you may just be a dick.

If you're ever in doubt that there's a creator out there, just go outside at night and look up. You can have a little faith without getting on your warhorse and smiting the heathens.

Sore point?

Honestly, no. But isn't that precisely the response you were fishing for?

I'm easy. Whatever comes naturally to you works for me.

Theranos is pretty first century christianity.

Hey this guy died and came back to life!
Wow that’s pretty amazing, let me talk to him.
Well he died came back and went away again, so it does look exactly the same now 50 years later as if he just died and didn’t come back to life.
I’m convinced here’s my money.

Why would her Chad of a husband marry her and conceive a child knowing she's going to go to prison for quite a while. I'm predicting a sentence of over 10 years where she will serve at least 10. Perhaps someone with better knowledge of the federal sentencing guidelines could chime in.

Here's an interesting talk/discussion John Carreyrou gave at the Politics & Prose bookstore in Washington, D.C. back in June of 2018.

https://www.youtube.com/watch?v=rM7CwmKZaaw

Just saw the Doc about it, lmao

goes to show how some investors don't know what the hell is going on, meaning they invest in something where they have very little knowledge. from what I gathered, from the get-go she never really explained the meat and potatoes of her machine, but for some reason she somehow was able to get so much money to invest. if you're a great charismatic person and can sell it seems easy as **** to get money as a start up tech company if you have a name or two behind you

When it comes to tech, high tech, med tech, bio tech, it is because the investors do not know what they are investing that they choose to invest. They want big disruptive bets based on things that don't exist today being developed to disrupt the status quo.

understandable I hate being one of those people that shouts "its impossible" when clearly some things are possible if yo have the drive and motivation ut its not easy.

still seems kinda easy to do what she did tho if you have a little luck, charisma and luckbox into 1-2 peple that trust you somehow

That really is the model though for a big segment of this type of risk capital.

Fake it to you make it and then raise mass amounts of money such that you have a good chance to get there or buy companies along the way to get you there or to some reasonable pivot that gets the shareholders return on their investment.

Yes there are levels of egregiousness in how far out some Founders go in their representations of what is not only possible but what has been done and Elizabeth crossed many lines but I think many would be shocked about the levels of misrepresentations that are done generally with regards to where the company actually is and where it is hoping to get to, once it has the money.

If you watch Fyre Festival documentary you realize that guy was just a successful event away from being a hero instead of a zero who ended up in jail. Had they lucked into a location that could have served the function, got good weather and the bands showed up, I think many of the other problems would have been ignored and he would be a massive success.

Today's the day - sentencing hearing happening right now.

A little over 11 years.

I guess her being a mom, plus an expectant mom, (one in the oven) had no effect on the Judge.

Elizabeth Holmes Sentenced to More Than 11 Years in Prison for Theranos Fraud.

https://variety.com/2022/biz/news/el...os-1235436862/

Sounds like she got off easy.

Eleven+ years for a white color crime is on the high side.

Don't **** with rich ppls money.