The jury of seven men and five women that will decide the fate of Theranos founder and ex-CEO Elizabeth Holmes has finally been chosen after two days of intense questioning.
Prosecutors and defense attorneys settled on a diverse set of jurors with regards to race, gender and age. Along with five alternates, the jurors were sworn in Thursday morning at the San Jose federal courthouse, according to reporting by CNBC. Opening statements are set to begin on Wednesday.
Holmes is facing up to a dozen counts of wire fraud.
If convicted, she could face 20 years in prison. She has pleaded not guilty and denies any wrongdoing. The basis of the case will hinge on intent – did she knowingly defraud investors and patients about her company's technology.
"Intent is always a requirement in a criminal prosecution," said David M. Pohl, partner at New York-based law firm Parker Pohl. "The defense team, obviously, is going to do everything they can to undermine the prosecutor’s case that she acted with the intent to deceive."
The first strategy, learned recently, is the mental health defense, arguing that her Ramesh "Sunny" Balwani, her ex-boyfriend and former COO of Theranos, subjected her to intimate partner abuse starting at age 18. "Like he was a puppet master," said Pohl. "The entire purpose of this defense is to undermine the government’s position."
"She may be able to raise enough reasonable doubt in the juror’s minds as to whether she acted intentionally,” he explained. “If she can do that, she might be acquitted."
Balwani denies the allegations. He will be tried separately.
But because Holmes had such a public profile while running the company, the defense has been met with some skepticism already. Particularly because of Holmes’ track record of charming and raising billions of dollars from well-known investors such as media mogul Rupert Murdoch, former Education Secretary Betsy DeVos, and the Walton family.
"She's going to highlight the elite sophistication of these investors," said Pohl. "How could Ms. Holmes, this 20-something college dropout, ever deceive these people?"
If she can convince the jury of that, and that she had no intention to deceive investors regardless, she might win her case, he said.
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The case is expected to be a long one, at around 13 weeks.