Elizabeth Holmes jury deadlocked on 3 charges

Elizabeth Holmes putting on ‘very believable act’: Lashinsky

FOX contributor Adam Lashinsky comments on the unraveling of the Theranos trial.

The California jury in the criminal fraud case against Theranos founder Elizabeth Holmes says it is deadlocked on 3 of the 11 charges she faces.

The panel, comprised of eight men and four women, sent a note to the judge Monday saying they could not reach a unanimous verdict on its seventh day of deliberation to determine Holmes' fate.

The jury could still reach a decision on the remaining eight charges. This story is developing and will be updated.

Former Theranos CEO Elizabeth Holmes leaves federal court in San Jose, Calif., Thursday, Dec. 23, 2021. (AP Photo/Nic Coury) (AP Photo/Nic Coury / AP Newsroom)

JURY IN ELIZABETH HOLMES TRIAL HEARS REPLAY OF HER BOASTS

Holmes, 37, was charged by federal prosecutors with nine counts of wire fraud and two counts of conspiracy to commit wire fraud over allegations that she deceived investors and patients with her company's failed blood-testing technology. Each count carries a maximum sentence of 20 years in prison.

Holmes pleaded not guilty to all charges and took to the stand to defend herself during the trial, where she admitted to having regrets but denied defrauding anyone.

Former Theranos COO Ramesh Balwani appears in federal court for a status hearing on July 17, 2019 in San Jose, California.s. (Photo by Kimberly White/Getty Images) (Photo by Kimberly White/Getty Images / Getty Images)

WHAT IS THERANOS?

She also placed blamed on her former boyfriend and ex-Theranos Chief Operating Officer Ramesh "Sunny" Balwani for allegedly misleading her about the effectiveness of Theranos' technology, and she accused him of emotional and sexual abuse. 

Balwani faces his own trial next year over his alleged role in defrauding the company's stakeholders.

Holmes founded Theranos at 19 years old after dropping out of Stanford University and dazzled Silicon Valley and investors alike with the promise that Theranos' technology could diagnose an array of diseases with just a few drops of blood from a patient rather than the traditional vials of blood drawn from a patient's vein.

Elizabeth Holmes, Theranos CEO and the world’s youngest self-made female billionaire, in an interview on September 29, 2015  (David Orrell/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images / Getty Images)

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The young entrepreneur became a billionaire on paper after raising more than $900 million from investors, but things began to unravel in 2015 after The Wall Street Journal exposed that Theranos was using traditional machines for its testing rather than its own technology. Flaws in the health care startup's technology were also found, indicating that Theranos' own diagnostics were not accurate.

Holmes was indicted in 2018, the same year Theranos shut down.

FOX Business' Stephanie Pagones contributed to this report.

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