Elizabeth Holmes Architect of Theranos, convicted of fraud
Written byTimes Magazine
Theranos founder Elizabeth Holmes was convicted of investor fraud after a month-long trial in California. Prosecutors say Holmes deliberately lied about technology that would allow them to detect the disease with a few drops of blood.
The jury found Holmes guilty of conspiracy to defraud investors and three counts of wire transfer fraud. He denies the charges, which carry a maximum 20 years in prison.
Holmes has not been arrested as a sentencing date has not been confirmed, and his subsequent trial is scheduled for next week. Journalists in the courtroom said the 37-year-old woman, who gave birth to her first child last year, showed little emotion as the verdict was read out and hugged her husband Billy Evans and parents before leaving the courtroom.
Holmes has faced a total of 11 charges and has pleaded not guilty to four fraud cases.
The split ruling came after a judge said a jury could impose a partial sentence after seven days of deliberation after failing to agree on the other three points.
On three counts of wire transfer fraud, he was found guilty of relating to confident investors in his bankrupt company. Television fraud is a relatively common federal crime in the United States that uses electronic communications, such as email, to provide false information to get something from someone else - usually money.
Holmes has raised more than $900 million from billionaires such as media mogul Rupert Murdoch and technology mogul Larry Ellison.
But the allegations came to light in 2015 after an investigation by the Wall Street Journal found that the basic technology for blood tests was not working. For nearly four months, a jury of eight men and four women was presented with two very different stories of the former billionaire, a self-made billionaire whose downfall rocked Silicon Valley.
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