Elizabeth Holmes verdict: Former Theranos CEO is found guilty on 4 counts

A jury found Elizabeth Holmes guilty of defrauding investors out of hundreds of millions of dollars. The verdict, which came Monday, capped the downfall of one of Silicon Valley’s most dynamic and scandal-plagued young executives who promised to revolutionize blood testing with an innovative technology that required just a small sample of blood pricked from a patient’s finger.

After 50 hours of deliberations over seven days, the jury of eight men and four women convicted Holmes of three counts of wire fraud and one count of conspiracy to commit wire fraud for lying to investors about devices developed by Theranos, the once high-flying biotech company that she started at the age of 19.

Read More: Pittsburgh Steelers QB Ben Roethlisberger gets wish

The jury found Holmes not guilty on four other fraud-related charges connected to allegations that she duped patients who received false or faulty results from tests conducted by Theranos, which collapsed in 2018.

The jury could not reach a unanimous verdict on three other counts tied to investor fraud. U.S. District Judge for the Northern District of California in San Jose, Edward Davila, is expected to declare a mistrial for those three counts. It is unclear whether prosecutors intend to indict her again for those charges, which they are able to do under the law.

Full Report Here:

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button