A Silicon Valley executive who prosecutors said lied to investors about inventing technology that tested for allergies and COVID-19 using only a few drops of blood was found guilty of health care fraud.
Alexandra Block, an attorney representing Schena, did not immediately return a phone message Friday seeking comment.
As Theranos' CEO, Holmes went on to raise nearly $1 billion from successful business leaders such as Oracle founder Larry Ellison and media mogul Rupert Murdoch. Holmes, now 38, was convicted on four felony counts of investor fraud in January following a nearly four-month trial in the same San Jose, California, courtroom where Schena's trial was held.
“Schena orchestrated a deceptive marketing scheme that falsely claimed that Dr. Anthony Fauci and other prominent government officials had mandated testing for COVID-19 and allergies at the same time and required that patients receiving the Arrayit COVID-19 test also be tested for allergies,” they said.
Schena also failed to release Arrayit’s SEC-required financial disclosures and concealed that Arrayit was on the verge of bankruptcy, prosecutors said. The case against him was the first criminal securities fraud prosecution related to the COVID-19 pandemic, they said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Great Sell-off has started in real estate - Silicon Valley Business JournalIt should not come as a surprise that the stubbornly high work-from-home percentage of workers is forcing large pension funds, private equity funds and institutional real estate investors to think twice about their portfolio of buildings.
Read more »
The Great Sell-off has started in real estate - Silicon Valley Business JournalIt should not come as a surprise that the stubbornly high work-from-home percentage of workers is forcing large pension funds, private equity funds and institutional real estate investors to think twice about their portfolio of buildings.
Read more »
Labor Day slowdown means just 5 Bay Area funding rounds - Silicon Valley Business JournalOnce again, M&A activity outpaced funding rounds as the unofficial end of summer approaches. TheFunded SiliconValley SanFrancisco BayArea venture startups
Read more »
Most expensive hotel rooms in San Francisco - Silicon Valley Business JournalTreat yourself to a night in one of the fanciest rooms in the city at the price point of a college semester.
Read more »
Labor Day slowdown means just 5 Bay Area funding rounds - Silicon Valley Business JournalOnce again, M&A activity outpaced funding rounds as the unofficial end of summer approaches. TheFunded SiliconValley SanFrancisco BayArea venture startups
Read more »
Peter Thiel Pulls a Fast OneThe Silicon Valley billionaire is giving Mitch McConnell serious agita.
Read more »