Elizabeth Holmes, the founder of health technology company Theranos, was found guilty on four counts of fraud for allegedly defrauding investors, doctors and patients.

Former Theranos president and chief operating officer Ramesh “Sunny” Balwani has also been convicted of charges similar to Elizabeth Holmes.

The U.S. Department of Justice alleged that Balwani and Holmes were involved in a “multi-million-dollar scam” to defraud investors, doctors and patients through Theranos and its advanced technology claims.

Prosecutors alleged that the corporate moguls were involved in two separate criminal schemes, one to defraud investors, and another to defraud doctors and patients.

Holmes is currently free on bail but can face up to a maximum sentence of twenty years in prison, a fine of $250,000 and restitution following her sentencing.

Elizabeth Holmes established Theranos when she was just 19 years old

Elizabeth Holmes was once helmed as the next Steve Jobs and declared the youngest female billionaire in the world. She dropped out of Stanford University and established Theranos when she was just 19 years old.

The California-based company claimed that its portable blood analyzer device could run comprehensive blood tests with just a few drops of blood pinpricked from the tip of fingers. Holmes alleged that the tests were even capable of detecting conditions like diabetes, high cholesterol and cancer.

The idea behind Theranos was considered to be revolutionary and the company reached its peak during 2014. It successfully racked up millions in funding and investments from investors like Draper Fisher Jurvetson and Larry Ellison, among others.

However, by 2015 the FDA started questioning Theranos’ facilities after finding “major inaccuracies” in its testing. The company faced its first major blow after an investigation by the Wall Street Journal highlighted the cracks in its technology.

Journalist John Carreyrou’s report stated that Theranos secretly used general blood-testing technology by other companies as its own signature machine, Edison, failed to deliver accurate results.

Following the investigation, Elizabeth Holmes was banned from the lab-testing industry for two years in 2016.