According to a court filing on Wednesday, Elizabeth Holmes, the founder of Theranos was found guilty on three charges of fraud and one count of conspiring to mislead the company's private investors. She will be jailed on September 26 for misleading investors in the blood-testing firm. She is free on a $500,000 bail backed by real estate.

As per court records, Holmes intends to seek the judge handling her case to overturn her convictions. If he doesn't, she'll probably file an appeal and ask for her sentence to be suspended until a final decision is made. After boasting that Theranos machine could do standard blood tests on a few drops from a finger prick, the former entrepreneur became a Silicon Valley star. Theranos, which was once valued at $9 billion, went bankrupt after the Wall Street Journal published a series of articles in 2015 alleging that their gadgets were faulty and misleading.

In 2018, Holmes was charged on charges of spamming financiers and sufferers. Last week, a jury found her guilty on four counts involving investors, acquitted her on four counts involving patients, and deadlocked on three other counts. Given "ongoing procedures in a related subject," Holmes and prosecutors agreed that her sentence should take place in September. The trial of former CEO of Theranos Ramesh 'Sunny' Balwani, is slated to start on March 9.

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