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SAN JOSE, California — Jurors will begin day four of deliberations on the fraud case Monday. Elizabeth Holmes, founder of the failed blood test startup Theranos.
Miss Holmes, 37, faces 11 electronic scams and conspiracies to commit electronic fraud He was seeking investment and employment for his new company, amid accusations that Theranos had lied about its technology. If found guilty, he will face up to 20 years in prison for each electronic fraud charge.
A jury of eight men and four women debated Monday, Tuesday and Thursday last week without reaching a verdict.
on thursday they she asked Listening to recordings of Ms. Holmes’ alleged conversation with investors, where Theranos allegedly made misleading allegations about its partnerships with pharmaceutical companies and the military.
The jurors’ deliberations follow nearly four months of litigation seen as a referendum on the worst excesses of Silicon Valley’s startup culture. Before Theranos fell, Miss Holmes was a very famous female founder. He left Stanford University at age 19 to focus on his company and spent the next decade raising nearly $1 billion from investors.
In 2015, Theranos began to unravel after a Wall Street Journal investigation revealed that the company relied on commercially available machines to perform most of its blood tests, rather than its own supposedly revolutionary devices. Theranos has been shut down same year in 2018 Miss Holmes has been charged.
During the trial, federal prosecutors sought to prove that Ms. Holmes deliberately deceived investors, patients, and trading partners by issuing false verification reports, faking demonstrations, and misrepresenting Theranos to the media and public.
“Business chose fraud over failure,” said US assistant attorney Jeffrey Schenk. aforementioned during the government’s closing speech.
Taking the stand for seven days in her own defense, Ms. Holmes tried to portray herself as a bona fide entrepreneur who believed in her own claims and was misled by those around her.
“He believed he had developed a technology that would change the world” aforementioned Kevin Downey is Mrs. Holmes’ attorney.
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