Elizabeth Holmes, founder of the Theranos blood test startup, will go down in history as an entrepreneur who took over Silicon Valley, spoke fluently and left a financial disaster behind. On Monday, a California jury added another line to the biography: the company’s CEO guilty of so many crimes.
After the day of consideration, jurors condemned Holmes four of the 11 counts she is accused of. All the charges were related to wire fraud or wire fraud conspiracy against investors Theranos, who invested hundreds of millions of dollars to support small, portable medical devices that the company claimed could perform countless medical tests using a single drop of patients. blood. The problem was that the devices did not work.
Holmes trial started in August after years of work by her lawyers dismiss the charges against her. Namely, the jury rejected the claims that Holmes conspired or committed a wire fraud against Theranos’ paying patients, considering her innocent on four counts in that regard. He could not make a decision on the other three counts of the wire fraud indictment against the investor.
Jury decisions on all points, reports Wall Street Journal, you can see below:
1. Conspiracy for wire fraud against Theranos investors: Guilty
2. Conspiracy to commit wire fraud against patients paying for Theranos: That he is not guilty
3. Electronic fraud against Theranos investors: $ 99,990 bank transfer from Alan Jay Eisenman: There is no verdict
4. Electronic Fraud Against Theranos Investors: Bank Transfer of $ 5,349,900 from Black Diamond Ventures: There is no verdict
5. Electronic fraud against Theranos investor: electronic transfer of $ 4,875,000 from Hall Phoenix Inwood Ltd .: There is no verdict
6. Electronic fraud against Theranos investors: electronic transfer of $ 38,336,632 from PFM Healthcare Master Fund: Guilty
7. Electronic fraud against Theranos investors: electronic transfer of $ 99,999,984 from Lakeshore Capital Management LP: Guilty
8. Electronic Fraud Against Theranos Investor: Electronic Transfer of $ 5,999,997 from Mosley Family Holdings LLC: Guilty
9. Wired network fraud against patients paying for Theranos: wired transmission of patient blood test results ET: That he is not guilty
10. Wired network fraud against patients paying for Theranos: wired transmission of patient blood test results ME: That he is not guilty
11. Electronic Fraud Against Patients Paying for Theranos: Bank Transfer of $ 1,126,661 Used to Purchase Advertisements for Theranos Wellness Centers: That he is not guilty
In her defense, Holmes’ lawyers said investors needed to investigate Theranos more, and more importantly, that the CEO’s failures were it is not a crime. Holmes repeated the latter when she testified, saying that she believed what the people who run Theranos’ laboratories had told her. She claimed that she believes that the company’s product works and that she wants to talk about what the company could achieve in the future.
“I wanted to talk about what this company could do in a year from now, five years from now, 10 years from now,” Holmes said. New York Times. “I wanted to talk about what was possible.”
Holmes’ testimony also included allegations against Sunny Balwani, chief operating officer of Theranos, and her ex-boyfriend, whom she claimed abused her emotionally and sexually. Holmes said Balwani, with whom she had been dating in secret for more than 10 years, controlled every part of her life, including schedule, self-presentation and time with her family. In addition, she stated that Balvani, who is 20 years older than her, forced her to have sex with him.
Balwani denied Holmes’ accusations. He was also charged with fraud and pleaded not guilty.
Each charge carries a maximum sentence of 20 years in prison, which is likely to be served at the same time. Holmes is expected to file an appeal.