One patient testified that she was led to believe she was having a miscarriage after taking a Theranos test, when indeed her pregnancy was viable. When Theranos' machines were rolled out to Walgreens stores in California and Arizona, they gave patients false or flawed results. She cultivated a mystique that included a signature black turtleneck like Apple co-founder Steve Jobs, whom she greatly admired. She promised its technology could screen patients for hundreds of diseases with just a tiny sample of blood, a notion that left longtime biotech experts befuddled. Promised a finger prick of blood could be scanned for hundreds of diseasesĪ Stanford University dropout, Holmes dazzled Silicon Valley when she founded Theranos at age 19. Prosecutors argued she did not stop - and even helped spread -falsehoods about the company that misled investors into pouring millions of dollars into the startup. Yet the government offered evidence that Holmes had an iron grip on Theranos' operations. And she said Balwani, not her, oversaw the company's financial forecasts, which were later discovered to be grossly inflated. She said lab directors whom she had trusted were the ones closest to the technology. But she blamed others for the downfall of Theranos. She said she wished she had handled some key business matters differently.
#THERANOS CEO ELIZABETH HOLMES TRIAL#
Technology The Elizabeth Holmes Trial Is Sparking A Gender Debate In Silicon Valley It is unclear whether prosecutors intend to indict her again for those charges, a possibility allowed under federal law.
District Judge for the Northern District of California in San Jose, Edward Davila, is expected to declare a mistrial for those three counts. The jury could not reach a unanimous verdict on three other counts tied to investor fraud. The jury found Holmes not guilty on four other fraud-related charges connected to allegations that she duped patients who received false or faulty results from tests conducted by Theranos, which collapsed in 2018. The verdict on Monday capped the downfall of one of Silicon Valley's most dynamic and scandal-plagued young executives who promised to revolutionize blood testing with an innovative technology that required just a small sample of blood pricked from a patient's finger.Īfter more than 50 hours of deliberations over seven days, the jury of eight men and four women convicted Holmes of three counts of wire fraud and one count of conspiracy to commit wire fraud for lying to investors about devices developed by Theranos, the once high-flying biotech company that she started at the age of 19. Elizabeth Holmes walks into federal court in San Jose, Calif.Ī jury found Elizabeth Holmes guilty of defrauding investors out of hundreds of millions of dollars.
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