BREAKING: Jury finds Theranos founder Elizabeth Holmes guilty on multiple charges in criminal fraud trial
Holmes was ultimately convicted of defrauding PFM Healthcare Master Fund, a San-Francisco based healthcare hedge fund, out of over $38 million; Lakeshore Capital Management, a fund connected to the DeVos family, of almost $100 million and Mosley Family Holdings, an LLC associated with former estate attorney Daniel Mosley, of close to $6 million.
An image of CNBC program Mad Money appears on a screen as Theranos founder Elizabeth Holmes is cross examined by prosecutor Robert Leach at Robert F. Peckham U.S. Courthouse during her trial, in San Jose, California, November 30, 2021 in this courtroom sketch.Prosecutors also tried to convince the jury to disregard Holmes' claims that her top executive and then-boyfriend Ramesh "Sunny" Balwani abused her. Blaming Balwani was central to Holmes' defense strategy.
In his closing argument an attorney for Holmes, Kevin Downey, told the jury that Holmes acted in good faith and "believed that she built a technology that could change the world."
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