The jury was set to give a verdict in the fraud trial of Monday. to fell Elizabeth Holmes, the founder of the failed blood tests startup Theranos.
The jury of eight men and four women started the deliberations on December 20th, spent three days that week in their discussions. They deliberated for three days last week.
On Monday morning they said they were bogged down on three of the eleven counts Ms. Holmes faced. They were directed to deliberate further, but said in the afternoon that they could not agree on these three allegations. You were instructed to fill out a judgment form on the other eight items. The other three counts were reserved for later.
One decision crowns a process that lasted more than three months, which was held up as a referendum on the worst excesses of the start-up culture of Silicon Valley, which was driven by mantras like “Move fast and break things” and “fake it until” you do it. “
Ms. Holmes, 37, has been fighting them for weeks 11 wire fraud charges and conspiracy to commit wire fraud. If convicted, each fraud allegation threatens a potential prison sentence of up to 20 years. A conviction could also reverberate in Silicon Valley, where Law enforcement has decreased in the past few years.
Mrs. Holmes’ case boils down to intent. Jurors must determine whether she deliberately misled investors, doctors and patients by making false statements about Theranos’ blood test technology and business partnerships.
Prosecutors called 29 witnesses – including Theranos employees, investors, trading partners, doctors and patients – who testified about a dysfunctional laboratory environment, fake technology demonstrations and investments based on claims that were found to be inaccurate.
The case of the defense relied heavily on it the testimony of Mrs. Holmes. she said that she had believed her own claims and been misled by her officers and directors – especially Ramesh Balwani‘Theranos’ former chief operating officer and Ms. Holmes’ ex-boyfriend. Mrs. Holmes said that he abused her physically and mentally, which means that she was unable to commit the fraud the government has accused her of doing.
Mr Balwani, who has denied Mrs Holmes’ allegations, faces the same charges. The court announced on December 13 that because of the length of the trial against Ms. Holmes, his trial would be postponed to February instead of starting in January.