The daily business briefing: January 4, 2022

A jury finds Elizabeth Holmes guilty on 4 of 11 fraud counts, Apple becomes the 1st company worth $3 trillion, and more

Elizabeth Holmes leaving the courthouse in November 2021
Elizabeth Holmes leaving the courthouse in November 2021
(Image credit: AMY OSBORNE/AFP via Getty Images)

1. Elizabeth Holmes convicted on 4 fraud charges

A California jury on Monday found Elizabeth Holmes, the founder of the failed blood-testing start-up Theranos, guilty of defrauding investors by lying about the success of the company's devices. The jury found Holmes guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud, with each count punishable by up to 20 years in prison. Jurors found Holmes not guilty on four other counts related to duping patients who received inaccurate results. The jurors couldn't reach a verdict on three other investor fraud counts. Holmes, once a rising Silicon Valley superstar, had testified that Theranos experts had assured her the tests worked, and she accused her ex-boyfriend and former deputy at Theranos, Ramesh "Sunny" Balwani, of sexually abusing and manipulating her.

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