Nhat V via AP. Meyer / Bay Area News Group
San Jose, Calif .—Degraded Silicon Valley star Elizabeth Holmes accuses investors and patients of believing that her startup Theranos has developed a blood test device that reshapes healthcare, and is a detective on Friday. Served as a witness in a fraud trial.
The surprising decision to have Holmes testify so quickly comes as a bomb and carries considerable risks. Federal prosecutors, who took a few months off the proceedings early on Friday, revealed that they were keen to burn Holmes under an oath.
Prosecutors will not have the chance until the trial resumes as early as Monday. Prosecutors called 29 witnesses to uphold the allegations that Holmes was endangering the lives of patients, while at the same time deceiving investors and customers about Theranos’ technology. Among them was General James Mattis, a former US Secretary of Defense and a former Theranos board member.
They also presented internal documents and sometimes vicious texts between Holmes and her ex-girlfriend, Sunny Bruwani, who was also the Chief Operating Officer of Theranos. Throughout the prosecution’s case, Holmes sat straight in her chair, bolted, even when former supporters testified to their anxieties about Theranos.
The combination of compelling testimony and documentation clearly proved effective in persuading Holmes to speak on her side in court. I heard on Friday 10 men and 4 women of the jury who would ultimately decide her fate. If convicted, Holmes, now 37, the mother of a recently born son, could be sentenced to up to 20 years in prison.
After 3 pm, Holmes slowly walked to the stand, all wearing masks in front of a courtroom full of spectators and juries. She talked about her early days as a student at Stanford University and her interest in detecting illness, and gave testimony nearly an hour from her decision to drop out of school at the age of 19 and later find a startup known as Theranos. started.
As the company took shape, so did its vision. Ultimately, Theranos has developed a device called Edison that is said to be able to scan hundreds of health problems with a few drops of blood. Performing a small number of patient tests at once is slow and impractical, as existing tests generally require each vial of blood.
If Edison was functioning as promised, it could have revolutionized healthcare by making it easier and cheaper to scan for early signs of illness and other health problems.Instead, the jury heard Holmes recordings boasting to investors About a breakthrough that was later proved to be untrue.
Witness testimony and other evidence presented at the trial strongly suggest that Holmes misrepresented transactions with major pharmaceutical companies such as Pfizer and the U.S. military, concealing repeated problems with Edison. increase.
But Edison’s problem is The Wall Street Journal First published in A series of explosives Audits by the Medicare and Medicaid Service Centers confirmed these issues the following year.
By then, Holmes and Balwani have raised hundreds of millions of dollars from billionaire investors such as media mogul Rupert Murdoch and Wal-Mart’s Walton family, and Walgreens and Safe to perform blood tests at pharmacies. I signed a contract with Way. These investments, at one point, valued Theranos at $ 9 billion and gave Holmes $ 4.5 billion in property (in paper) in 2014.
The evidence presented at the trial also distributed Holmes to private Theranos with financial forecasts calling for revenue of $ 140 million in 2014 and $ 990 million in 2015, while at the same time making a profit. I also made it clear. A copy of Theranos’ 2015 tax return presented as part of the proof of the trial shows that the company earned less than $ 500,000 and had a cumulative loss of $ 585 million.
Ellen Kreitzberg, a law professor at Santa Clara University who is attending the trial, said she thought the government had made a strong claim.
“There is nothing flashy and sexy in this testimony,” she said. “The witnesses were very careful about the testimony. None of the witnesses seemed to have anger or grudge against her, so they were very powerful witnesses.”
Other witnesses called by the government included two former Theranos lab directors who repeatedly warned Holmes that blood testing technology was highly unreliable. The prosecutor also asked two part-time lab directors, including Balwarney’s dermatologist. They spent only a few hours scrutinizing Theranos’ blood testing techniques during late 2014 and most of 2015. As Holmes lawyers pointed out, part-time lab directors are government regulated.
Other major witnesses include former Physer employees, former Safeway CEO Steve Bird, and representatives of the Betsy DeVos family investment company, a former education secretary under President Donald Trump. Was included. The DeVos family will invest $ 100 million.
Elizabeth Holmes runs for her criminal fraud trial: NPR
Source link Elizabeth Holmes runs for her criminal fraud trial: NPR
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