Theranos Founder and CEO, Elizabeth Holmes, and Holmes' Former Boyfriend, Ramesh Sunny Balwani

A federal jury convicted three former executives of Chicago-based health technology startup Outcome Health for their role in a $1 billion fraud scheme on Tuesday. The company installed television screens and tablets in physician offices around the United States, and then sold advertising space on those devices. Over a six-year period beginning in 2011, the scheme resulted in at least $45 million in over-billing. This is one of the latest cases involving healthcare startups running a foul of the law, while subscribing to the fake it till you make it ethos that's often part of the DNA of startup culture.