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Balwani is now set to stand his own trial on similar charges, next month.Įditor's note: This post has been updated with new details throughout.A sentencing hearing will be set at a later date. While Holmes will not be detained for now, prosecutors have asked for her to be out on a secured bond. Theranos and founder Elizabeth Holmes raised 700 million from mostly wealthy investors without ever having to provide financial statements audited by an independent public accounting firm.What's next: During a hearing next week, federal prosecutors are expected to tell the court how they'd like to proceed with the three counts that have been declared a mistrial. Defense attorneys portrayed Holmes as more naïve than duplicitous, and as the victim - both psychologically and sexually - of former Theranos COO Sunny Balwani, whose own trial is slated for later this year.The big picture: Prosecutors keyed in on what they called "knowingly false statements" made by Holmes, particularly over what could and couldn't be done by Theranos' blood analysis technology. Theranos dissolved in 2018, laying off all remaining employees and giving back what little cash it had left to creditors. /news/elizabeth-holmes-jury-guilty-conspiracy-theranos/100716180 Theranos founder Elizabeth Holmes, a former tech billionaire once hailed as a visionary, is facing a lengthy prison sentence after being convicted of fraud and conspiracy.The company raised over $1 billion, including at a valuation of nearly $11 billion, from an eclectic mix of investors that included Rupert Murdoch, Tim Draper, Betsy DeVos, James Mattis, the Walton family and the Cox family.This case was specifically about what Holmes told Theranos investors, although her lies also impacted partners and patients. Each guilty verdict carries a maximum sentence of 20 years in prison though she would likely serve them concurrently, the New York Times notes. Holmes was found guilty of four charges of wire fraud and conspiracy to commit wire fraud with regards to certain investors (though the jury couldn't reach a verdict in the case of three counts relating to investors).She was found not guilty on several charges relating to patients and company ads in Arizona. Elizabeth Holmes, the 37-year-old founder and former CEO of Theranos, was just found guilty on four charges of fraud and deceiving investors, per CNN. Why it matters: Holmes was the poster child of Silicon Valley hubris, taking "fake it till you make it" to illegal extremes. Elizabeth Holmes, the founder and former CEO of blood-testing company Theranos, on Monday was found guilty of conspiracy and fraud against certain investors by a California jury.