Elizabeth Holmes guilty in fraud trial

The case has shed light on Theranos' failed endeavor to revolutionise lab testing

Theranos founder Elizabeth Holmes and her family leave the federal court after a US jury found Holmes guilty in her fraud trial, in San Jose, California, US on Jan 3, 2022

She was acquitted on three counts of defrauding patients who paid for tests from Theranos, and a related conspiracy charge

Holmes, wearing a gray suit jacket, appeared poised after the verdict was read

She faces up to 80 years in prison when sentenced by US District Judge Edward Davila but would likely get a much lower sentence.

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Holmes rose to Silicon Valley fame after founding Theranos in 2003

Her net worth was estimated at $4.5 billion by Forbes in 2015  “She chose fraud over business failure. She chose to be dishonest,”

Assistant US Attorney Jeff Schenk said at the start of closing arguments. “That choice was not only callous, it was criminal.”

Defense attorney Kevin Downey said she was “building a technology that would change the world.”