Former Outcome Health Executives Convicted on Fraud Charges

Outcome Health co-founders and former COO were convicted of defrauding customers and investors, facing up to 30 years in prison. The Chicago-based startup was valued at over $5 billion and raised nearly half a billion dollars from investors, including Goldman Sachs and Google, before allegations of overbilling pharma companies and falsifying reports of prescription increases led to its downfall. The convictions serve as a warning to startup entrepreneurs to approach the line between "fake it till you make it" and fraud cautiously and remind investors to do their homework.