Crime
Elizabeth Holmes guilty on four counts of fraud and conspiracy
Holmes, 37, faces up to 20 years in prison and a fine of $250,00 plus restitution for each count of conspiracy and wire fraud.
January 3, 2022 7:51pm
Updated: January 4, 2022 9:31am
Former Theranos CEO Elizabeth Holmes was found guilty Monday on four counts: three of wire fraud and one of conspiracy to commit wire fraud. The jury remained deadlocked on three charges and found her not guilty on four other felony charges. \
The former entrepreneur reportedly remained emotionless as the verdicts were read, The Associated Press stated. Her partner, Billy Evans, reacted similarly.
Holmes, 37, faces up to 20 years in prison for each count and a fine of $250,000 plus restitution for each count of conspiracy and wire fraud, CNN reported. The terms will likely be served concurrently.
Holmes was indicted more than three years ago, but the pandemic and the birth of her child delayed the trial. She faced allegations of misleading investors and patients after claiming her start-up Theranos revolutionized blood testing.
The jury of eight men and four women deliberated for 50 hours before reaching the verdict, The New York Times reported.
Holmes will likely appeal the decision.
