Check back for more updates.
The one-time billionaire and darling of Silicon Valley who promised a revolutionary blood testing technology has been found guilty of four charges in her criminal fraud trial.
The jury of eight men and four women were given the case in December after three months of proceedings. Over seven days, deliberations lasted more than 50 hours.
The jury found him guilty of one count of conspiracy to commit wire fraud and three counts of wire fraud against specific investors. The judge will sentence the man later. She could face 20 years in prison.
There was no verdict on the other three charges after the jury found him not guilty on four of them. The jury told Davila that they were unable to reach a unanimous decision on three of the charges.
The family of Betsy DeVos and the Walmart family were among the high-profile investors who helped raise $945 million for the company. At its peak, Theranos was valued at $9 billion.
The trial has attracted worldwide attention. Journalists and spectators lined up at 2 a.m. to get one of the 34 tickets for the main courtroom or 45 tickets for the overflow room.
The government and the defense made emotional pleas to the jury.
The assistant U.S. Attorney told the jury that the man was a fraud. She was dishonest with her patients and investors. That choice was callous and criminal.
The jury was reminded that time and time again the technology simply didn't work yet she kept raising money on false claims.
An image of CNBC program Mad Money appears on a screen as Theranos founder ElizabethHolmes is cross examined by a prosecutor at the Robert F. Peckham U.S. Courthouse during her trial in San Jose, California, in this courtroom sketch.
The prosecutors tried to convince the jury that the abuse claims were false. The defense strategy was based on Blaming Balwani.
Some of the claims made by Holmes were undermined by thousands of private text messages. The messages from June to July 2016 show the two talking. Their start-up was bleeding hundreds of millions of dollars while they showed a high-flying lifestyle.
You don't need to decide if the abuse reached your verdict. The case is about false statements made to patients.
Kevin Downey told the jury that he believed that the technology that was built byHolmes could change the world.
Downey said that he went down with the ship when the stock went down.
In the first 11 weeks of the trial, the jury heard testimony from 29 government witnesses, including former Defense Secretary James Mattis, who testified that the blood-testing technology, doctored reports, concealed use of third-party devices and faked demonstrations were all false.
In a shocking move, she told her side of the story. Over the course of seven days, she testified that she believed in her company and blamed her employees for what happened inside the lab. She told the jury that she did not mean to deceive anyone.
Civil and criminal probes led to the dissolution of Theranos. The Wall Street Journal reporter John Carreyrou exposed the flaws and inaccuracies in Theranos technology, and the indictment of the two men was issued.
The SEC case was settled with a $500,000 fine and a promise not to serve as an officer or director of a public company for 10 years. Balwani is fighting the charges and did not agree to the settlement. He is expected to go on trial this year.
The trial began after four delays. She revealed she was pregnant. In July, she gave birth to her first child.
The Green Gables estate is located in one of the wealthiest towns in Silicon Valley and was where CNBC confirmed that she was living with her partner. She was accompanied by her mother and father during the trial. Several of her friends from her days at the university showed up in court to support her.
The verdict on Monday was in line with an order by Davila that the jurors keep working on the case. After jurors said for a second time that they couldn't come to a unanimous agreement, they were told to give their verdict on the other counts.
On Monday, she returned to the San Jose, California, courthouse with her parents and Evans. Her friends were also present.
The jury is going to hear the case in the trial.
