Founder of Theranos, Elizabeth Holmes convicted guilty and awaits for Judgement1 min read
On Monday, Elizabeth Holmes, the founder of the failed blood testing firm Theranos, is being convicted guilty of four of eleven fraud counts is currently awaiting punishment.
Holmes, 37, exited the courthouse in San Jose, California, through a side door after the judgement was given in the case, which was extensively studied as a statement on Silicon Valley. She was convicted on three charges of wire fraud and one of conspiracy to conduct wire fraud. On four additional counts, she was found not guilty. The jury was unable to make a decision on three charges, which were postponed until later.
Next week, a conference will be held on the three counts on which the jury could not make a decision. Holmes has the option of appealing her conviction, punishment, or both. She will also be interrogated by the United States Probation Office as part of the preparation of a presentence report.
According to the president of the West Coast Trial Lawyers and a former federal prosecutor Neama Rahmani, each count of wire fraud carries a potential penalty of 20 years in prison, but Holmes is unlikely to receive the maximum because she has no past convictions.