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Elizabeth Holmes Guilty On 4 Counts

A federal jury convicted Elizabeth Holmes, who claimed to revolutionize blood testing, on four of 11 charges that she conducted a long fraud scheme while running Theranos Inc., the Wall Street Journal reports. The former Silicon Valley star once graced magazine covers with headlines like "This CEO is Out for Blood." During a 15-week trial, Holmes showed regret for missteps and said she never intended to mislead anyone. She accused her former boyfriend and deputy of abusing her, allegations he denied. Holmes was charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud in an indictment brought 3 1/2 years ago. She was found guilty on three of the nine fraud counts and one of two conspiracy counts. She was acquitted on four counts related to defrauding patients.

In an appeal, Holmes could challenge evidence the judge allowed over the defense’s objections or any sign of juror misconduct, though none has emerged. Prosecutors can pursue a new trial on the undecided counts, though said such a path would be unlikely. The timing of any new action against Holmes would likely be affected by a coming trial of Ramesh “Sunny” Balwani, Holmes’s former boyfriend and deputy at Theranos, who faces similar charges of defrauding investors and patients about the startup’s blood-testing . Prosecutors had to prove Homes intended to defraud investors and patients, seeking a financial windfall. Holmes maintained that she made innocent mistakes and believed that Theranos’s blood-testing technology was showing signs of success.


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