JUST IN: Former Theranos CEO Elizabeth Holmes has been found guilty on four out of 11 federal fraud and conspiracy charges and may face prison time
Holmes faces up to 20 years in prison as well as a fine of $250,000 plus restitution for each count of wire fraud and each conspiracy count. Earlier Monday, the jury of eight men and four women, which had deliberated for 45 hours at that time, returned a note indicating they were at a standstill and could not reach a unanimous verdict on three of the 11 counts.
But, the dominoes started to fall after a Wall Street Journal investigation in 2015 revealed the company was only using its proprietary technology for around a dozen of the hundreds of tests it was offering, and with questionable accuracy.Elizabeth Holmes during in an interview on September 29, 2015 when she was the CEO of Theranos.Jurors heard from 32 witnesses throughout the course of the case.
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Elizabeth Holmes Found Guilty On Wire Fraud ChargesThe jury also found the former Theranos CEO not guilty on four counts, and sent a note to the judge on Monday morning that they were deadlocked on three counts.
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Jury Finds Elizabeth Holmes Guilty on 4 Counts of Fraud and ConspiracyJurors in the Elizabeth Holmes fraud trial Monday told the court they were unable to agree on a verdict on three of the 11 federal counts against the Theranos founder after six-plus days of deliberations.
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