Theranos founder Elizabeth Holmes has been found guilty of fraud.
The 37-year-old businesswoman - who became a billionaire through her health company - was convicted of defrauding investors, after prosecutors said she knowingly lied about technology she said could detect diseases with a few drops of blood.
Prosecutor Jeff Schenk said in closing arguments: "Holmes chose fraud over business failure. She chose to be dishonest with investors and patients. That choice was not only callous, it was criminal."
Holmes was first indicted with the felony back in 2018 and was initially tried on 11 charges, being found guilty of four of them, admitting to doctoring documents that were presented to investors Walgreens, where she had added pharmaceutical company Pfizer's logo, in an effort to falsely imply they had approved and endorsed her methodology.
On the stand, Holmes said: "I wish I hadn’t done that" and claimed that she she never told Walgreens or her investors about that change to protect a Theranos invention, even though she did tell FDA regulators.
Her defence attorney had initially tried to argue that her mistakes had come from "trusting" her former business partner Sunny Balwani as a primary adviser.
Lawyer Lance Wade said: "There was another side of Holmes's relationship with Balwani that the public never saw. Trusting [Balwani] as her primary adviser was one of her mistakes."
Holmes now faces jail time, although a sentencing date is yet to be confirmed and will remain free on bond until that time,
