Theranos founder Elizabeth Holmes faces cross-examination

The fraud trial of fallen Theranos founder Elizabeth Holmes is set to resume Tuesday with continued cross-examination of Holmes and possible expert psychological testimony

Via AP news wire
Tuesday 07 December 2021 05:01
Theranos Founder-Fraud Trial
Theranos Founder-Fraud Trial

The fraud trial of fallen Theranos founder Elizabeth Holmes is set to resume Tuesday with continued cross-examination of Holmes and possible expert psychological testimony.

Holmes, 37, has pleaded not guilty to charges of defrauding investors and patients by failing to deliver on her promise to revolutionize health care with a technology that was supposed to be able to detect a wide range of diseases and other problems by testing just a few drops of blood.

She is charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud, which carry a maximum prison sentence of 20 years.

Her defense team has described her as a tireless worker who poured more than 15 years of her life into the pursuit of a faster, cheaper and less invasive way to test blood samples and screen for disease.

But federal prosecutors painted her in a darker light, depicting her as a conniving entrepreneur who duped investors, customers and patients for years, even though she knew Theranos was nearly bankrupt and its much-hyped blood-testing technology was a flop.

Her trial is nearing its end after months of detailed testimony from former investors, Theranos employees and Holmes herself. Prosecutors and defense attorneys have alternatively described her as a greedy villain who faked her way to the top and as a passionate underdog and victim of abuse who spent years trying to shake up the health care industry.

Her former lover and business partner Ramesh “Sunny” Balwani, whom Holmes has accused of emotional and sexual abuse, has been banned from attending her trial but faces his own early next year. His lawyer has vehemently denied the abuse accusations.

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