Monday, November 29, 2021

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    Elizabeth Holmes describes Theranos’s ‘big idea’ to jurors

    Elizabeth Holmes, the founder of Theranos, accused by U.S. prosecutors of stealing hundreds of millions of dollars from investors, is in her own position. Criminal trial“I thought this was a really big idea,” he told the jury.

    The defense made a surprising move last week to bring a 37-year-old child to the stand, giving him the opportunity to protect himself from allegations of lying about the features of the groundbreaking Theranos blood tester.

    After an unexplained delay of more than an hour at the start of the procedure on Monday, Holmes’ testimony defends the jury to convince the jury that young entrepreneurs sincerely believed that technology was ambitious but possible. We focused on the formation of Theranos, which is part of the strategy.

    Defendant lawyer Kevin Downey had Holmes talk to the jury through some photos and technical slides. At some point, she used a computer mouse to point out individual components of the early Theranos machines.

    One exhibit, a presentation slide believed to have been created by Theranos’ then chief scientist, Ian Gibbons, detailed some of the milestones the team felt they had achieved. Gibbons died in 2013, a few days before his testimony was taken in a patent proceeding in the company’s technology.

    “I realized I was achieving the design goals of this system,” Holmes slowly spoke of the presentation in a low-trademark voice. “The system was working in a great way.”

    In a clear effort to counter the allegations that Theranos was developing the technology in secret, the defense provided slides and documents detailing the research partnership and peer-reviewed research.

    Some, such as work done in collaboration with pharmaceutical company AstraZeneca at the Royal Marsden Hospital in London, were under the heading “Completed Success.”

    When Holmes appears on the stand of a federal court in San Jose, California, the prosecution intends to portray her photo as a calculated liar, giving him the opportunity to cross-examine Holmes. After a Thanksgiving break.

    “She doesn’t have to prove her innocence,” said Amanda Kramer, a former federal prosecutor who is a partner at Covington & Burling. “She must make the jury’s mind prima facie suspicion.”

    “Regardless of the degree of preparation, the defendant’s response to the cross-examination would, by its nature, be more voluntary, less prepared and less practiced,” Kramer said. Defendants rarely testify in their trials, she said, “because it is so dangerous.”

    Journalists and spectators gathered outside the courtroom from around 3 am on Monday. Holmes entered the courtroom before 8 am.

    In a short appearance on Friday, Holmes told the jury about the early days when she created Theranos when she was 19. At its peak, the company was valued at $ 9 billion and Holmes owned about half.

    Holmes has been Charged When Transfer fraud A conspiracy to commit a wire fraud. She pleaded not guilty. If convicted, she faces up to 20 years in prison.

    Beyond the fate of Holmes, the observer Silicon Valley spirit There is a question of how bold entrepreneurs must be accountable if they are on trial in their own right and their ideas do not spread as intended.

    “It’s not a crime to work hard and run short,” Holmes lawyer Lance Wade said in the opening discussion.

    The trial began on August 31 in the United States Federation of San Jose, California, and was postponed due to Covid-19 restrictions and Holmes’ pregnancy. She gave birth to a boy in July.

    For 11 weeks, until the proceedings were withdrawn on Friday, the prosecution called on 29 witnesses, including former US Secretary of Defense Jim Mattis, who was a director of Theranos and invested a portion of his money in the company.

    When Holmes stands on the stand, the defense alleges that she was emotionally abused by Theranos chief operating officer and former Holmes boyfriend Ramesh “Sunny” Balwani, as has already been filed in court. Is expected. Balwani’s lawyer denied those claims.

    Holmes promised that Theranos could significantly reduce the cost and discomfort of blood sampling and analysis.

    The Theranos Edison machine was billed as a unit about the size of a personal computer that could draw a small amount of blood via a “nano tenor” and perform more than 200 tests. When Holmes adorned the covers of magazines and conferences around the world, small 0.5-inch vials became the central pillar of Holmes.

    But behind the scenes, the technology has failed, and prosecutors say Holmes and her staff have written documents and invented non-existent deals and approvals with major groups such as the U.S. military. We set out to hide the shortcomings.

    Balwani will face his own trial individually on similar charges, likely next year. Prior to that, his legal team is trying to prevent the vanity license plate labeled “DASKPTL”, which is a reference to Karl Marx, from being included in Balwani’s car. Capital theory.

    “Whether intended as a heartfelt homage, casual mention, or ironic joke, Mr. Balwani’s license plate is a source of allegations involved in planning to fool people with money and other property. We don’t support it, “his lawyer wrote in court. Filing.

    Elizabeth Holmes describes Theranos’s ‘big idea’ to jurors Source link Elizabeth Holmes describes Theranos’s ‘big idea’ to jurors

    The post Elizabeth Holmes describes Theranos’s ‘big idea’ to jurors appeared first on California News Times.

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