Elizabeth Holmes trial enters third day of deliberations. Reports coming in now claim that jurors have finished the third day of deliberations in regards to the Elizabeth Holmes trial.
Elizabeth Holmes Trial Enters the Third Day of Deliberations
On Thursday, jurors ended the third day of deliberations without a verdict in the fraud trial of Elizabeth Holmes who is the founder of Theranos, the failed blood-testing start-up.
It is alleged that Ms. Holmes who is 37 years old faces two counts of conspiracy in a bid to carry out wire fraud and nine counts of wire fraud for allegedly falsifying about Theranos’s technology in a bid to get both money and fame. If however she gets convicted, she could serve up to 20 years in prison.
On Monday, a jury of four women and eight men started deliberations and continued to Tuesday. On Tuesday afternoon, however, they asked whether it is possible for them to take their jury instructions home. The response to their request was a no. they however had Wednesday off.
Members of the Jury and Their Deliberations
They deliberated for a full day on Thursday. And at one point, they asked to listen to the audio recording Elizabeth had with investors. And in the recordings Elizabeth had, she said that she built the company’s business on “partnerships with the pharmaceutical companies and our contracts with the military.” Pharmaceuticals, however, recommend against using the company’s technology, and the military on the other hand never used its devices on the battlefield.
When Will Deliberations Resume
Deliberations regarding the trial will resume on the morning of Monday. Start-up founders in Silicon Valley are rarely prosecuted for their truth-stretching claims. Elizabeth Holmes who stood out as a female founder in an industry that is dominated by male folks took after the steps of apples Steve Jobs.
In 2003, Elizabeth Holmes founded Theranos, dropped out of Stanford University in 2004, and then spent the next 10 years raising almost $1 billion from venture capitalists and wealthy family offices.
Revelations About Theranos
A wall street journal investigation in 2015 showed that Elizabeth Holmes overstated the abilities of the company’s blood-testing technology. The investigation also revealed the truth about the company’s relationship with the military and pharmaceutical companies. The company however was shut down in 2018.
The case against her however draws to the conclusion whether she means to deceive investors, patients, or others involved, or if she did what she did for the good of the public.
29 witnesses were called by prosecutors seeking to prove that Elizabeth Holmes “chose fraud over business failure” via misleading validation reports, fake demonstrations, not accurate marketing tools, and many other fake claims.