Elizabeth Holmes, the founder of the failed blood testing startup Theranos, is now awaiting conviction after being found guilty of four of eleven fraud charges on Monday.
Ms. Holmes, 37, left the San Jose, Calif. Courtroom through a side door after reading the verdict on the case, which was being scrutinized as a Silicon Valley commentary. She has been found guilty of three wire transfer fraud cases and one conspiracy to commit wire transfer fraud. She was found not guilty on four other charges. The jury was unable to pass a verdict on three points, which were postponed until later.
A conference will take place next week on the three points, in which the jury was unable to pass a judgment. Ms. Holmes can appeal the conviction, her judgment, or both. She will also be interviewed by the US Parole Office while they are preparing a report on the sentencing.
All wire fraud results in up to 20 years in prison, although Ms. Holmes is unlikely to get the maximum sentence as she has no previous convictions, said Neama Rahmani, president of West Coast Trial Lawyers and former federal prosecutor.
But he said her sentence would likely be on the higher end due to the size of the money. Ms. Holmes raised $ 945 million for Theranos during the startup’s lifetime, and those investments were ultimately wiped out.