Elizabeth Holmes trial: Prosecution continues 11 weeks after testimony | Theranos
Prosecutors rested their case in Theranos Elizabeth Holmes criminal fraud trial, ending the first phase of the case Silicon Valley in her grasp.
Holmes’ lawyers are due to begin their defense later on Friday. But it remains unclear whether the former Silicon Valley CEO will testify.
At the conclusion of their case, prosecutors moved to dismiss a fraud charge involving a patient who was unwilling to testify. The ex-CEO now faces 11 fraud charges And up to 20 years in prison.
Over the 11 weeks of procedures in San Jose, Californiaand courtroom, government attorneys attempted to prove that Holmes intentionally misled investors and patients by misrepresenting the capabilities of her company’s blood-testing devices.
The prosecution called more than two dozen witnesses including former employees, investors and patients who testified that Theranos’ blood testing machines did not work as advertised, leading to inaccurate results. Eyewitnesses also mentioned that many blood tests are carried out in external laboratories and not in Theranos devices.
Elizabeth Holmes’ legal team will argue that the founder did not commit fraud on purpose but did not understand the shortcomings of Theranos technology.
In opening arguments, defense attorney Lance Wade paints a picture of a young, hard-working CEO trapped in Silicon Valley’s culture that encourages entrepreneurs to promote the latest ideas.
In the end, he said, Theranos failed, and Mrs. Holmes walked away with nothing. “But failure is not a crime — to do your best and get done, is not a crime.”
Holmes’ team previously indicated that his first witness would be a legal assistant from his law firm.
Holmes remained silent so far in the courtroom. It is possible that she will testify in her own defense – a risky move that would expose her to questioning by the prosecution.
The defense is expected to argue that Holmes was influenced by her CEO and ex-boyfriend, Sunny Balwani. As potential witnesses, the defense team listed a number of domestic violence experts, suggesting that they might argue that Holmes was abused and did not think clearly when she made business decisions that led to fraud.
“There was another aspect of Holmes’ relationship with Blowney that the public never saw,” Wade said in opening arguments, adding that the “trust [Balwani] As her primary advisor it was one of her mistakes.”
Al-Balwani strongly denied the allegations. His defense team did not respond to a request for comment. He faces trial for fraud in 2022.