SAN JOSE, Calif. — Jurors are set to begin a fourth day of deliberations on Monday within the fraud trial of Elizabeth Holmes, the founding father of the failed blood testing start-up Theranos.
Ms. Holmes, 37, faces 11 counts of wire fraud and conspiracy to commit wire fraud over fees that she lied about Theranos’s expertise as she sought investments and enterprise for her start-up. If convicted, she faces as much as 20 years in jail for every depend of wire fraud.
A jury of eight males and 4 girls deliberated on Monday, Tuesday and Thursday final week with out reaching a verdict.
On Thursday, they asked to listen to recordings of a name Ms. Holmes had with traders, during which she allegedly made deceptive claims about Theranos’s partnerships with pharmaceutical firms and the navy.
The jurors’ deliberations observe a virtually four-month trial that’s considered as a referendum on the worst excesses of Silicon Valley’s start-up tradition. Earlier than Theranos collapsed, Ms. Holmes was a extremely celebrated feminine founder. She dropped out of Stanford College at age 19 to give attention to her firm and spent the following decade elevating almost $1 billion from traders.
In 2015, Theranos started to unravel after a Wall Road Journal investigation revealed that the corporate had relied on commercially obtainable machines to carry out lots of its blood checks, fairly than its personal supposedly revolutionary units. Theranos shut down in 2018, the identical 12 months Ms. Holmes was indicted.
Throughout the trial, federal prosecutors have tried to show that Ms. Holmes deliberately deceived traders, sufferers and industrial companions by forging validation reviews, faking demonstrations and misrepresenting Theranos to the media and the general public.
“She selected fraud over enterprise failure,” Jeffrey Schenk, an assistant U.S. legal professional, said throughout the federal government’s closing argument.
Ms. Holmes, who took the stand for seven days in her personal protection, has tried portray herself as a well-meaning entrepreneur who believed her personal claims and was led astray by these round her.
“She believed she was constructing a expertise that will change the world,” said Kevin Downey, a lawyer for Ms. Holmes.