After a three-month trial, jury finds ex-Theranos CEO Elizabeth Holmes guilty of fraud
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After a three-month trial, a jury has found fallen Silicon Valley star Elizabeth Holmes guilty of fraud. Former Theranos CEO has been accused of turning her blood-testing startup into a sophisticated sham. She has allegedly duped billionaires and other unwitting investors into backing a seemingly revolutionary company, whose technology never worked as promised
After a three-month trial, a jury has found fallen Silicon Valley star Elizabeth Holmes guilty of fraud.
Former Theranos CEO has been accused of turning her blood-testing startup into a sophisticated sham. She has allegedly duped billionaires and other unwitting investors into backing a seemingly revolutionary company, whose technology never worked as promised.
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Holmes has been found guilty on two counts of wire fraud and two counts of conspiracy to commit fraud on Monday.
The decision was taken after seven days of deliberation. The trial of the 37-year-old woman featured dozens of witnesses, including Holmes herself and many exhibits.
The guilty now faces up to 20 years in prison for each count.
The jury seems to have deadlocked on the three remaining charges. The split verdicts are "a mixed bag for the prosecution, but it's a loss for Elizabeth Holmes because she is going away to prison for at least a few years," said David Ring, a lawyer following the Holmes case closely.
In the trial, the federal prosecutors provided testimony and evidence to show Holmes was a charlatan, who was obsessed with fame and fortune.
(With inputs from agencies)