Theranos Founder Elizabeth Holmes' Verdict Reached After 7 Days Of Jury Deliberations
Jan. 3 2022, Published 8:15 p.m. ET
After the jury in the criminal trial against Elizabeth Holmes, the former CEO and founder of Theranos, found themselves deadlocked on the seventh day of deliberations, a verdict has finally been reached.
Holmes has been found guilty on four out of 11 federal charges. The four charges she has been found guilty of include three counts of wire fraud and one count of conspiracy to commit wire fraud.
The jury failed to return a verdict on three charges of wire fraud. She was also found not guilty on three other charges of wire fraud, as well as one charge of conspiracy to commit wire fraud.
According to CNN, the former businesswoman now faces up to 20 years in prison, in addition to a fine of $250,000 plus restitution for each count of wire fraud and each conspiracy count – meaning she is facing a fine of upwards of $1 million.
As RadarOnline.com reported earlier today, the jury in Holmes’ criminal trial could not immediately reach a verdict because they found themselves deadlocked on three of the 11 counts for which the disgraced businesswoman was charged.
Now, with Holmes being found guilty of four out of 11 federal charges, the disgraced Theranos CEO and founder’s trial that lasted three months is over until her sentencing at a later date.
After all, this could be considered one of the longer trials to take place in a federal court, especially considering the fact that Holmes was first indicted more than three years ago.
Factors that slowed down the trial include the COVID-19 pandemic and the birth of Holmes’ son in July 2021.
But once the trial started on August 31, 2021, it was full of bombshell testimonies from 32 witnesses plus Holmes herself.
In fact, most of Holmes’ legal team’s defense relied on the testimony of Holmes herself, which included cries of amnesia during cross-examination with the prosecution, as well as claims of sexual abuse and rape by her ex-boyfriend and Theranos business partner Sunny Balwani.
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Before Holmes was found guilty of four out of 11 counts, she stood by her word that she did not try to mislead investors pouring millions of dollars into her company.
"They were people who were long-term investors, and I wanted to talk about what this company could do a year from now, five years from now, ten years from now," she said during her testimony. "They weren't interested in today or tomorrow or next month. They were interested in what kind of change we could make."
Holmes’ sentencing will take place at a later date, but she is expected to face up to two decades in prison and a fine of at least $1 million.
