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Jury convicts Holmes of fraud
After a monthslong trial and seven days of deliberation, a federal jury convicted Theranos CEO Elizabeth Holmes yesterday of defrauding investors, capping the stunning downfall of a company and founder that promised to revolutionize medicine. The jury convicted Holmes on four counts of lying to investors while fundraising for the blood-testing startup, but cleared her on four counts of defrauding patients. The jurors didn’t unanimously agree on three counts of defrauding individual investors, which opens the possibility of Holmes being tried again for those charges. The court hasn’t sentenced a scheduled a sentencing hearing yet for Holmes, but each of the four wire fraud charges carries a maximum prison sentence of 20 years, which likely would be served concurrently. Our colleague Damian Garde has more.
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