A California jury in a criminal fraud case against Theranos founder Elizabeth Holmes says it is facing three of 11 charges. A panel of eight men and four women sent a notice to Judge D on Monday stating that they could not reach a unanimous verdict on Holmes’ fate on the seventh day of his release. The jury was still able to decide on the remaining eight issues. This story is ongoing and will be updated.
Holmes, 37, has been charged by federal prosecutors with nine wire transfer fraud cases and two wire transfer conspiracy cases for misleading investors and patients with his company’s failed blood testing technology. Any charge carries a maximum sentence of 20 years in prison. Holmes has pleaded not guilty to all charges and has come to the defense during the trial, admitting he is sorry but refusing to cheat on anyone.
She also accused her ex-boyfriend and former chief operating officer of Theranos, Ramesh “Sunny” Balwani, of misleading her about the effectiveness of Theranos technology and of emotional and sexual abuse.
Balwani faces his own trial next year at his alleged homestead, which founded Theranos at the age of 19 after he dropped out of Stanford University and shocked Silicon Valley and investors with the promise that Theranos technology would work with a few drops of patient blood. Can diagnose various diseases instead of the conventional blood vessels taken from the patient.
The young entrepreneur became a billionaire on paper after raising more than $ 900 million from his investors, but it began to settle in 2015 after the Wall Street Journal exposed Theranos using conventional machines to test his technology instead.
There were also flaws in the health care startup’s technology, indicating that Theranos’ own diagnostics were inaccurate.
Holmes was indicted in 2018, the same year Theranos closed.