Theranos

Elizabeth Holmes back during her black turtleneck days at Theranos — in 2014 [Photo by Max Morse for TechCrunch TechCrunch – TechCrunch Disrupt San Francisco 2014, CC BY 2.0]A federal judge today sentenced Theranos founder Elizabeth Holmes to more than 11 years in prison for defrauding investors in the now-defunct blood testing company.

“What went wrong? This is sad because Ms. Holmes is brilliant,” said U.S. District Court Judge Edward Davila, according to media reports from NBC News, Variety and more. Davila went on to say that failure is normal, but failure by fraud is not OK.

In January, a federal jury in San Jose, California found Holmes guilty of four counts of wire fraud and conspiracy to commit wire fraud.

Holmes and her company Theranos once generated a great deal of buzz over claims that they were set to revolutionize blood testing with technology that could analyze tiny amounts of blood. Forbes in 2015 even recognized Holmes as …

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California on Aug. 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]Former Theranos CEO Elizabeth Holmes is seeking a new trial as one of the key witnesses in her federal fraud trial expressed regret for their testimony.

Holmes filed a motion on September 6 requesting a new trial after former Theranos lab director Adam Rosendorff went to her house to make amends about his testimony against her in her federal fraud trial, Business Insider reports.

After more than 50 hours and seven days of deliberations in January following Holmes’ federal fraud trial, a jury found her guilty on four counts of wire fraud and conspiracy to commit wire fraud related to allegations that she intentionally lied to investors about Theranos’ blood testing technology.

Rosendorff testified in October last year and was a witness for the prosecution. During the trial, he said he…

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California, on Aug. 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]After more than 50 hours and seven days of deliberations, the Elizabeth Holmes federal fraud trial jury found her guilty on four counts of wire fraud and conspiracy to commit wire fraud.

The San Jose, California jury, consisting of eight men and four women, also returned a verdict of not guilty on four other counts and was deadlocked on three charges. U.S. District Judge Edward Davila is expected to declare a mistrial on the three deadlocked charges, according to multiple news reports.

The four guilty charges are related to allegations that Holmes intentionally lied to investors regarding Theranos’ blood technology.

“The guilty verdicts in this case reflect Ms. Holmes’ culpability in this large-scale investor fraud, and she must now face sentencing for her crimes,” U.S. …

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California on Aug. 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]The jury in the Elizabeth Holmes federal fraud trial begins deliberations today after three months of testimony from many witnesses.

Both the prosecution and defense rested its cases last week with final arguments. The trial has seen testimonies from 32 witnesses including Holmes herself, as well as more than 900 exhibits.

During closing arguments, Holmes’ defense attorney Kevin Downey told the jury that Holmes always acted in good faith and was motivated to work by ambition and optimism and that she really believed in the technology, according to multiple news reports. He also brought up the numerous star-studded Theranos board members.

“Do you think that Ms. Holmes, in connection with undertaking her work at Theranos, decided that she would assemble that group of individuals for th…

Former Theranos CEO Elizabeth Holmes leaves after a hearing at a federal court in San Jose, California, on July 17, 2019. [Photo by Stephen Lam/Reuters]Former Theranos CEO Elizabeth Holmes faced cross-examination this week and emotionally recounted her relationship with former president Sunny Balwani.

Holmes earlier this week testified that Balwani, who is her former romantic partner as well, was sexually and emotionally abusive throughout their relationship from 2009 to 2016. She claimed that Balwani was controlling of her meals and schedule and sexually assaulted her. She also claimed that Balwani told her to rebuild herself and “become a new Elizabeth” to succeed at Theranos, according to multiple news reports. Balwani has denied all allegations.

“He felt like I came across as a little girl and thought I needed to be more serious and more pointed,” Holmes testified, AP reports.

Balwani would allegedly yell at Holmes if she didn’t do wha…

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California on Aug. 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]Elizabeth Holmes reportedly revealed some regret over her handling of business as the ex-Theranos CEO took the stand again in a criminal fraud trial.

Taking the stand for the third day of testimony, Holmes was said to have shown remorse on Tuesday while still shifting some of the blame onto others and remaining steadfast in her denial of accusations that she tried to hide that her company’s blood-testing methods weren’t working as planned, according to The Associated Press.

Holmes started Theranos in 2003 at age 19 claiming that the company would revolutionize blood testing with technology that could analyze tiny amounts of blood. Investigative reporting eventually dismantled Holmes’ claims, raising questions about whether she and others misled investors. In 2018, the company was shuttered …

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California, on August 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]The federal fraud trial of ex-Theranos CEO Elizabeth Holmes continued today, with Holmes herself testifying for the second time.

On Friday, Holmes spent an hour on the stand, according to The New York Times, mainly discussing the early days of Theranos, a company she started with claims of revolutionizing blood testing with technology that could analyze tiny amounts of blood.

Investigative reporting eventually dismantled Holmes’ claims, raising questions about whether she and others misled investors. The downward spiral culminated in the 2018 shutdown of the company, with the U.S. Securities and Exchange Commission accusing Holmes and COO Sunny Balwani of what it described as a “massive fraud.”

Holmes spoke on Friday of why she started the company, and, according to NYT, she…

Former Theranos CEO Elizabeth Holmes leaves after a hearing at a federal court in San Jose, California, on July 17, 2019. [Photo by Stephen Lam/Reuters]Former Safeway CEO Steve Burd testified at the Elizabeth Holmes trial last week, saying the company’s partnership with Theranos failed due to multiple delays of the blood-testing devices.

Burd thought a partnership with Theranos would be an opportunity for the grocery chain to expand into healthcare, he testified. He said he was drawn to Theranos and its technology because of the claims that the tests could perform blood tests faster, cheaper and without a full laboratory. The former CEO of two decades said he imagined that people could get their blood tested and shop while they wait for results.

Safeway spent hundreds of millions of dollars to build clinics in many of its grocery stores in preparation for the Theranos machines.

But repeated delays from the Silicon Valley startup began to raise red fla…

Theranos founder Elizabeth Holmes (center) arrives at federal court in San Jose, California on Aug. 31, 2021. [Photo by David Paul Morris/Bloomberg via Getty Images]Former Theranos lab director Adam Rosendorff took the stand again in the Elizabeth Holmes federal fraud trial to face cross-examination from the defense.

Holmes’ defense attorney Lance Wade alleged that the issues in the lab were a result of Rosendorff’s “incompetence,” Mercury News reports.

“To the extent that failures in the lab are the result of incompetence of someone other than my client, it’s exculpatory for my client,” Holmes’ defense attorney Lance Wade said, Mercury News reports.

Rosendorff testified that he was under “tremendous pressure” to show that the Theranos blood-testing technology worked and was successful, CNBC reports. He said the pressure came from the top and went all the way through research and development.

Rosendorff reite…