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Theranos' Elizabeth Holmes Found Guilty of Four Counts of Fraud

She could face up to 20 years in prison

Theranos founder Elizabeth Holmes was convicted of four federal fraud charges Monday and acquitted on four others while a jury deadlocked on the three remaining charges after months of trial.

Holmes was found guilty of one of the two counts of conspiracy to commit wire fraud and acquitted on the other. She was also found guilty of three of the six counts of defrauding investors, including nearly $100 million from Lakeshore Capital Management, a fund connected to the family office of Betsy DeVos, a former Education Secretary. But the jury couldn't reach a verdict on the three other investor fraud charges. Holmes was also found not guilty on all the three counts related to defrauding patients.

Holmes, 37, was the force behind a modernized blood test —advertising a cheap finger prick that could offer comprehensive results for a number of medical issues. But The Wall Street Journal reported in 2015 that Theranos devices were inaccurate, beginning the company's eventual downfall.

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