(CALIFORNIA) Court Report: Theranos founder Elizabeth Holmes has been convicted of defrauding investors after a months-long landmark trial #AceNewsDesk report

#AceNewsReport – Jan.05: Jurors found Holmes guilty of four charges, including conspiracy to commit fraud against investors and three counts of wire fraud: She denied the charges, which carry a maximum prison term of 20 years each.

#AceDailyNews Court Report: Tech Billionaire Elizabeth Holmes & Theranos founder convicted of ‘Wire Fraud’ Prosecutors said Holmes knowingly lied about technology she said could detect diseases with a few drops of blood.

Elizabeth Holmes wearing a mask leaves court with partner and family
Holmes (centre) remains on bail before sentencing at a later date

Holmes was not taken into custody, with no date confirmed yet for sentencing and a further hearing scheduled next week.

She faced 11 charges in total and was found not guilty of four charges relating to defrauding the public. 

The split verdict came after the judge said the jury, having deliberated for seven days, could deliver a partial verdict after being unable to reach consensus on another three counts.

Theranos, at one point valued at $9bn (£6.5bn), was once the darling of Silicon Valley.

The firm promised it would revolutionise the healthcare industry, but its claims began to unravel in 2015 after a Wall Street Journal investigation reported that its core blood-testing technology did not work. 

For nearly four months at trial, the jury of eight men and four women were presented with two starkly different accounts of the former self-made billionaire, whose downfall shook Silicon Valley.

Calling some 30 witnesses, the prosecution sought to prove that Holmes knew the product she was selling to investors was a sham, but remained hell-bent on the firm’s success. 

At trial, multiple lab directors testified that they told Holmes about the flaws in Theranos’ technology but were instructed to downplay their concerns. At the same time, they said, Holmes told investors the technology was operating as planned. 

Holmes “chose fraud over business failure. She chose to be dishonest with investors and patients”, said prosecutor Jeff Schenk in closing arguments. “That choice was not only callous, it was criminal.” 

The defence countered with descriptions of a dedicated and driven businesswoman, making waves in a male-dominated industry. 

The rise and fall of Elizabeth Holmes

Testifying in her own defence, Holmes acknowledged mistakes in Theranos’ operation, but maintained she never knowingly defrauded patients or investors

The defence also laid blame on Ramesh “Sunny” Balwani, Holmes’ former business partner and long-term boyfriend. 

At trial Holmes accused Mr Balwani, 19 years her senior, of emotional and sexual abuse – allegations he denies. 

Reverberations for Silicon Valley

Elizabeth Holmes claimed her diagnostics machines could test hundreds of diseases. They couldn’t. 

Considering she was the founder and CEO of Theranos you might think the case would be an easy win for the prosecution. But for a number of reasons the guilty verdicts were by no means assured. 

These technical fraud cases are extremely difficult to prosecute. Jurors were asked to consider hundreds of documents and sit through evidence from dozens of witnesses. 

Holmes has just had a baby and some commentators believed she would strike a sympathetic character. 

The difficulty in successfully prosecuting Holmes is reflected in the verdicts – a real mixed bag of decisions from the jury. 

But considering how difficult white-collar fraud cases are to prosecute, the government will be happy with what stuck. 

Her former partner, Sunny Balwani, will now face trial next month in the same court for similar charges. It’s likely Holmes will not be sentenced until after that case has concluded. 

The verdict sends a clear and frank message to Silicon Valley founders – there are consequences when you say things to investors that aren’t true.

US Attorney Stephanie Hinds thanked the jurors, who she said had navigated a “complex case” over 15 weeks to reach their verdict. 

“The guilty verdicts, in this case, reflect Ms Holmes’ culpability in this large-scale investor fraud and she must now face sentencing for her crimes,” the prosecutor said in a statement read out by an assistant.

Holmes founded Theranos as a teenager, shortly after dropping out of chemical engineering at Stanford University. 

She was able to raise more than $900m from billionaires such as media magnate Rupert Murdoch and tech mogul Larry Ellison.

The firm officially ceased operations in 2018 following the scandal.

#AceNewsDesk report …………Published: Jan.05: 2022:

Editor says …Sterling Publishing & Media Service Agency is not responsible for the content of external site or from any reports, posts or links, and can also be found here on Telegram: https://t.me/acenewsdaily all of our posts fromTwitter can be found here: https://acetwitternews.wordpress.com/ and all wordpress and live posts and links here: https://acenewsroom.wordpress.com/and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#california, #court, #fraud, #silicon-valley, #technolgy

(SILICON VALLEY) JUST IN: Twitter has announced a new feature allowing accounts to self-identify as bots, by adding a label to their profile #AceNewsDesk report

#AceNewsReport – Sept.10: The company gives several examples of “good bots” including accounts that share vaccination updates, information about seismic activity or material from public museums.

#AceSocialDesk says that Twitter is to label ‘good’ bot accounts and said the update was based on research that found that people wanted more context about non-human accounts…

Twitter is dropping the terms 'master', 'slave' and 'blacklist' from internal documents.
By James Clayton
BBC North America technology reporter

A study by Carnegie Mellon University last year found that nearly half of the Twitter accounts spreading messages on the social media platform about the coronavirus pandemic were likely automated accounts.

The move will not be mandatory.

The company will continue to remove inauthentic accounts it deems to break the company’s platform rules. 

Example of Twitter’s new label

Bots are often associated with misinformation on social media platforms – and have caused a major headache for the company.

Twitter has removed tens of millions of suspected bot accounts in recent years. 

Yet some automated accounts are seen by Twitter as having a positive impact on the platform. 

One account Twitter highlighted as a “good bot” live tweets every time there is an earthquake in San Francisco. 

Another tweets public domain works from the Drawings & Prints department at New York’s Metropolitan Museum. 

Twitter had previewed the system in May, in an attempt to give people more information to differentiate automated from human-run accounts. 

The company believes the labels will increase the legitimacy of such accounts and build trust and transparency with their audiences.

Twitter said they were launching it to a small number of developer accounts, and was planning to roll it out all developers by the end of the year. 

However it’s not clear how many automated accounts will take up the offer, or whether the owners of many of these accounts would want to advertise that they are not run by humans. 

#AceNewsDesk report ……….Published: Sept.10: 2021:

Editor says …Sterling Publishing & Media Service Agency is not responsible for the content of external site or from any reports, posts or links, and can also be found here on Telegram: https://t.me/acenewsdaily all of our posts fromTwitter can be found here: https://acetwitternews.wordpress.com/ and all wordpress and live posts and links here: https://acenewsroom.wordpress.com/and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#api, #bots, #california, #silicon-valley, #tweets, #twitter

(SILICON VALLEY, Calif.) JUST IN: Encrypted messaging application Wickr has been procured by Amazon for an undisclosed sum. The app, advertised as one of the most secure on the market, has been in use by multiple US government agencies #AceNewsDesk report

#AceNewsReport – June.26: The deal was announced by the two companies on Friday, with neither disclosing any figures: We are pleased to share that Wickr has been acquired by Amazon and is now part of the Amazon Web Services (AWS) team. We’re proud to have created highly trusted, secure communication solutions for messaging, video conferencing, file sharing, and more,” Wickr said in a statement posted on its website:

#AceSecurityDesk says that Amazon has acquired messaging app Wickr that carries ‘double encryption’ and is used by Pentagon and other agencies and

Amazon acquires secure messaging app Wickr used by Pentagon

AWS is offering Wickr services effective immediately and Wickr customers, channel, and business partners can continue to use Wickr’s services as they do today,” Amazon said in a statement.

26 Jun, 2021 10:13 

Chat app sting tells US intel agencies are interested in more than just ‘backdoors’, CIA whistleblower John Kiriakou tells RT

Chat app sting tells US intel agencies are interested in more than just ‘backdoors’, CIA whistleblower John Kiriakou tells RT

Founded back in 2012, the company is best known for its free app, allowing users to send encrypted messages, as well as make supposedly secure video and audio calls. The application also boasts an auto-burn feature, with messages getting deleted from user’s devices after a certain period of time. The company claims the mechanism is so secure that said messages “can never be recovered.”

Apart from maintaining the free app, Wickr has also offered paid plans for organizations, government agencies, and specifically for militaries. Among its “customers and partners,” the company lists the US Department of Defense, and Spirit of America, a US military-linked non-profit.

Amazon has said the purchase will not make any difference for Wickr users, with the application now immediately available through the AWS.

The purchase will, however, probably make a difference for Amazon itself, as the tech behemoth has now entered the secure messaging app game. Moreover, the purchase will likely help the company to get even cozier with Washington, given that US government agencies already use its freshly procured application after EU-bankrolled cybersecurity firm develops intrusive tech that allows ‘anonymous’ snooping & remote control of net devices – media

The procurement might also help Amazon to make up for the loss of the long-delayed $10 billion Joint Enterprise Defense Infrastructure (JEDI) cloud computing contract with the Pentagon. While the contract was considered by multiple experts to be a done deal for Amazon, it was contested by other tech giants and ultimately won by Microsoft. Since then, Amazon has been leading a legal fight, trying to prove that Washington influenced the deal.

#AceNewsDesk report ……Published: Jun.26: 2021:

Editor says …Sterling Publishing & Media Service Agency is not responsible for the content of external site or from any reports, posts or links, and can also be found here on Telegram: https://t.me/acenewsdaily all of our posts fromTwitter can be found here: https://acetwitternews.wordpress.com/ and all wordpress and live posts and links here: https://acenewsroom.wordpress.com/and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#amazon, #aws, #california, #silicon-valley

' Microsoft Windows XP Will No Longer Get Java Runtime Support '

#AceWorldNews – UNITED STATES (Silicon Valley) – July 14 – Windows XP hold-outs pay attention. If you run the Java runtime on XP, it looks as if the current version is about as good as it gets.

The next version, 7u65 and 8u11, due to ship in the middle of July, will not support or run on XP.

Oracle hasn’t announced this so much as sneaked out the information on its Java support site.

#ANS2014

#java, #microsoft, #silicon-valley, #united-states, #windows, #xp