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Elizabeth Holmes Found Guilty On 4 Charges in Theranos Fraud Case
A jury has found embattled Theranos founder Elizabeth Holmes guilty of four of the 11 charges she faced in her fraud trial.
The former Silicon Valley darling was convicted of one count of conspiring to commit wire fraud against Theranos investors and three counts of fraud in connection to wire transfers. The jurors found her not guilty on four other counts — three of which related to defrauding patients — and failed to reach a verdict on three others.
Reporters in the courtroom said Holmes, 37, maintained a stoic demeanor as the judge read the verdict, then she gave her partner, parents and two friends hugs before leaving the room. Her attorneys are expected to appeal the decision.
Each count carries a penalty of hundreds of thousands of dollars in fines and a maximum sentence of up to 20 years in prison, which she would likely serve concurrently.
The decision comes after jurors told Judge Edward Davila on Monday — seven days after they began deliberations — that they were deadlocked on three of the 11 counts Holmes was facing for wire fraud and conspiracy to commit wire fraud. Davila, who sits on the federal court in the Northern District of California, asked the jurors to continue deliberating and said they should “not hesitate to reexamine your own views and change your opinion if you become persuaded that it is wrong.”
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