The panel composed of eight men and four women convicted Holmes on one charge of conspiracy and three charges of fraud. They determined she was …
The panel composed of eight men and four women convicted Holmes on one charge of conspiracy and three charges of fraud. They determined she was not guilty of a second conspiracy charge and not guilty on three fraud charges. They were unable to reach a unanimous decision on another three fraud charges. Holmes,37, was charged by federal prosecutors with nine counts of wire fraud and two counts of conspiracy to commit wire fraud over allegations that she deceived investors and patients with her company’s failed blood-testing technology. Each count carries a maximum sentence of 20 years in prison. Holmes pleaded not guilty to all charges and took to the stand to defend herself during the trial, where she admitted to having regrets but denied defrauding anyone. She also placed blamed on her former boyfriend and ex-Theranos Chief Operating Officer Ramesh “Sunny” Balwani for allegedly misleading her about the effectiveness of Theranos’ technology, and she accused him of emotional and sexual abuse. Holmes founded Theranos at 19 years old after dropping out of Stanford University and dazzled Silicon Valley and investors alike with the promise that Theranos’ technology could diagnose an array of diseases with just a few drops of blood from a patient rather than the traditional vials of blood drawn from a patient’s vein.
