Legal Edge: Elizabeth Holmes has been convicted. What does this mean?

Legal Edge

LANSING, Mich. (WLNS) – Elizabeth Holmes, the tech entrepreneur who was once a billionaire, is now a convicted criminal – facing years of prison time after being found guilty on four counts of defrauding investors in her blood testing company Theranos.

The jury of eight men and four women who spent seven days deliberating also found Holmes not guilty on four charges concerning defrauding patients, on three additional counts there was no verdict as the jury remained deadlocked.

“I think that this jury clearly deliberated very carefully here over seven days and the verdict kind of makes sense in the sense that they’re saying we believe she defrauded investors. We weren’t convinced that she defrauded patients,” said legal expert Dan Abrams.

“But, look, in the end here, this is a win for prosecutors. You can say, oh, well, you know, there were four counts she wasn’t convicted on and three counts where they were hung but in the end, there were four guilty verdicts here, which I think is clearly a loss for Elizabeth Holmes and something that the prosecutors are probably quite pleased about,” said Abrams.

“The defense is going to say she should serve no time. The prosecutors will say significant time. You’re talking about up to 20 years on each count as a possibility. I don’t think anyone thinks she will serve 20 years. The more reasonable range is somewhere in the three to ten-year range, for example. But remember, in the sentencing phase of this, she can now make arguments that may not have been persuasive to the jury. She says she was abused, for example. That is something where she could say to the judge, her lawyers could say, that should be taken into consideration when deciding how much time she should serve behind bars,” said Abrams.

For Abrams’ full analysis, check out the video player above.

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