After 7 days of deliberations, a jury in San Jose, California, found Elizabeth Holmes guilty on 4 counts of wire fraud & conspiracy to commit wire fraud. The jury returned a verdict of not guilty on another 4 counts, & could not come to a consensus on 3:
Elizabeth Holmes has faced the court of public opinion, as countless books, articles, documentaries, and TV shows have squeezed every last drop out of the saga of the blood-testing startup. Now, an actual court has delivered the final verdict. On Monday, after seven days of deliberations, a jury in San Jose, California, found her guilty on four counts of wire fraud and conspiracy to commit wire fraud. The jury returned a verdict of not guilty on another four counts, and could not agree on three.
Mountains of evidence—including text messages, emails, and company documents—showed that Theranos’s technology was in disrepair, and failed to live up to its founder’s vision as the future of blood testing. But the case hinged on whether Holmes, as the company’s CEO, knowingly deceived investors and patients, or if she acted in good faith as a struggling entrepreneur.
She testified that Ramesh “Sunny” Balwani, her former business partner and former boyfriend, was responsible for preparing falsified financial reports and overseeing Theranos’s labs. Holmes also said that Balwani controlled and abused her, affecting her mental state during her later years at Theranos. Balwani faces his own criminal trial later this year.
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