A federal judge will decide whether ex-Theranos CEO Elizabeth Holmes will serve a maximum 20-year prison sentence after being convicted of fraud and conspiracy.

Holmes, 38, was found guilty Jan. 3. of misleading investors and endangering patients with deceptive blood-testing technology.

Elizabeth Holmes (C) enters the courthouse accompanied by her partner, Billy Evans (2nd L) and her mother (L) in her fraud trial in San Jose, California, January 3, 2022
Elizabeth Holmes (C) enters the courthouse accompanied by her partner, Billy Evans (2nd L) and her mother (L) in her fraud trial in San Jose, California, January 3, 2022 AFP / Nick Otto

A federal jury convicted Holmes of conspiracy count and fraud.

The jury acquitted Holmes of patient-related conspiracy wire fraud and three additional wire fraud counts. The jury could not reach a unanimous verdict regarding three investor fraud-related counts.

Holmes and Ramesh "Sunny" Balwani, 57, founded Theranos, a private health care and life sciences company based in Palo Alto, Calif.

Holmes and Balwani were accused of overstating the technology's capabilty.

Former Theranos COO Ramesh "Sunny" Balwani is to be sentenced in November after a jury found him guilty of defrauding investors and patients who believed in the startup's blood testing technology.
Former Theranos COO Ramesh "Sunny" Balwani is to be sentenced in November after a jury found him guilty of defrauding investors and patients who believed in the startup's blood testing technology. GETTY IMAGES NORTH AMERICA via AFP / JUSTIN SULLIVAN

Prosecutors are seeking a 15-year prison sentence. Her lawyers are arguing for 18 months, preferably under house arrest.

U.S. District Judge Edward Davila can sentence Holmes to a maximum sentence of 20 years.

Her lawyers argued she was a "well-meaning" entrepreneur and is a devoted mother expecting another child.

Prosecutors have also asked Holmes to pay $804 million in restitution. Investors in Theranos include Rupert Murdoch, The Walton family, and software magnate Larry Edison.

According to AP, the defense submitted a 12-page letter, which included pictures of Holmes doting on their 1-year-old son.

Balwani was convicted of 12 counts of fraud and conspiracy. He will be sentenced on Dec. 7.

California