Holmes was convicted of investor fraud and conspiracy, but acquitted on three counts of defrauding patients who paid for tests from Theranos, and a related conspiracy charge. The company secretly relied on conventional machines manufactured by Siemens to run patients' tests, prosecutors said. Former patients testified that they would not have used Theranos' tests if they had known the tests were flawed. Holmes was acquitted on charges of defrauding patients. Prosecutors said had Holmes been truthful with investors and patients, the venture never would have attracted critical funding and revenue.

Source: Forbes January 04, 2022 03:04 UTC