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Elizabeth Holmes may be guilty in the minds of millions who consumed the best-selling book, the dueling documentaries, and the chart-topping podcasts about the downfall of Theranos. But, when it comes to her fate, the only opinions that matter are those of the 12 jurors who will spend the next three months deciding whether Holmes is the ringleader of massive fraud or just a Silicon Valley dreamer who tilted over her skis.

And despite overwhelming public opinion, convincing them to convict won’t be easy, legal experts said.


“You could make a great argument that she had no intent to defraud anyone,” said Mary Dodge, a University of Colorado criminal justice professor who wrote a book on women in white-collar crime. “That she sincerely believed in what she was doing, but as time went on, everything fell apart.”

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