The jury in the Elizabeth Holmes Theranos trial found her guilty on four of the eleven counts. They acquitted her of the four counts involving paying patients. There are three more counts in the indictment on which they could not reach agreement. It is to be expected that the judge will declare a mistrial on those three counts.

The guilty counts were on investor-related charges. The deadlocked counts were, too. The government has the option of retrying Holmes on those counts if a mistrial is declared, but in my experience, that is unlikely to happen. The counts on which she was guilty involved almost $150,000,000. That is high enough to hit the max for sentencing purposes so there is little to gain. However, those charges could be bargaining chips to use with the defense. For example, the government could offer to not retry those if there is no appeal. The defense is unlikely to accept that bargain, but may be receptive to an offer on sentencing, considering the fact she has rolled the dice and gone to trial,

She is not being remanded to custody.  I’m guessing she’s going to go for the appeal the whole way and hope to avoid prison altogether. In that case, we’re looking at another year before she sees any prison time unless she violates some condition of release. The strategy could work against her. She is already risking a longer sentence by her choice to testify and claim she did nothing wrong. The acceptance of responsibility is a key factor in sentencing length. Right now white collar criminals often get home detention due to Covid, but a year from now, that may not be the case. She might be better off taking a deal now if the government will agree to home detention for a time instead of prison. She has a husband and baby at home. In my opinion, she belongs in the slammer.