Theranos founder Elizabeth Holmes walked into her criminal trial in federal court in San Jose in September 2021 charged with 12 counts of fraud in connection with her now-defunct Palo Alto blood-testing startup.
Four months later, she walked out, guilty on four counts, after a jury found her liable for defrauding some, but not all investors, and acquitted her of defrauding patients. One charge was dropped because federal prosecutors erred.
Holmes, who gave birth to a son in July 2021 — weeks before the start of her trial — and is pregnant again, is to be sentenced Friday. Legal experts predict Judge Edward Davila, who presided over her four-year felony case and her trial that ended Jan. 3, will send her to prison for several years.
Here’s what the jury decided after her trial:
Count 1: Conspiracy to commit wire fraud against Theranos investors
Verdict: Guilty
What happened: Jurors found that Holmes schemed with her former romantic partner and Theranos’ chief operating officer Sunny Balwani — who was tried separately and convicted in July — of using false statements about the company, its business partnerships and its finances to “knowingly and intentionally” deceive investors into putting hundreds of millions of dollars into Theranos.
Count 2: Conspiracy to commit wire fraud against Theranos’ paying patients
Verdict: Not guilty
What happened: Jurors declined to hold Holmes responsible for deceiving patients into paying for unreliable blood tests. Federal prosecutors put...
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