Elizabeth Holmes Trial: Closing Arguments Are Set to Begin – World News

Elizabeth Holmes Trial: Closing Arguments Are Set to Begin

After 15 weeks and 32 witnesses, trial of elizabeth holmesThe founders of the failed blood testing start-up Theranos are entering their final stages.

On Thursday morning, prosecutors are set to begin their closing arguments to prove that Ms. Holmes, 37, is guilty of 11 counts of wire fraud and conspiracy to commit wire fraud.

His case is being closely watched as a referendum on the worst excesses of Silicon Valley’s start-up culture, rewarding claims of change and rapid growth in the world. The verdict may affect whether prosecutors pursue Similar white collar criminal cases At a time when tech start-ups are swimming in funding and promotion.

A jury of eight men and four women will begin considering the fate of Holmes after the defense concludes its final arguments on Friday. If convicted, Ms Holmes could face up to 20 years in prison.

The prosecution’s case boils down to proving one thing: Ms. Holmes intended to deceive Theranos’ investors, doctors and patients with her claims about the start-up’s blood-testing technology. The hardest part of prosecuting a white-collar criminal trial, said James Melendres, a former federal prosecutor, is proving.

“It was extremely difficult to prove with certainty what was happening in one’s mind,” he said.

Before Theranos exploded, Ms. Holmes had emerged as a rare successful female founder in a male-dominated tech industry. She founded Theranos in 2003, dropped out of Stanford in 2004 to work on a start-up, and raised nearly $1 billion from investors for the company’s revolutionary blood-testing technology.

But Wall Street Journal investigation In 2015 it was discovered that Theranos’ technology did not work and it appeared that Ms. Holmes was attracting investors and commercial partners with exaggerated and misleading claims. The company collapsed in 2018 amid the scandal.

In the same year, Ms Holmes was indicted on fraud charges. test it started After several delays on 8 September.

Prosecutors outlined six main areas of Ms. Holmes’ alleged deception, including lies about Theranos’ technology capabilities, its work with the military, and its commercial performance.

the government called former Theranos employee To testify about test failures and a dysfunctional laboratory environment. Doctors and patients talked about how they made medical decisions based on Theranos tests that turned out to be wrong. and investors and pharmaceutical executives said That Ms. Holmes’ misleading claims prompted her to invest millions of dollars in Theranos or sign a contract with her company.

Last month, Ms. Holmes took a stand And portrayed himself as a good entrepreneur who was gullible and heavily dependent on the people around him. she said she was emotionally and physically abused By Ramesh Balwani, the former Chief Operating Officer of Theranos and her ex-boyfriend. Mr Balwani, who is facing the same fraud charges as Ms Holmes and faces trial next year, has denied the allegations.

Source link

Leave a Comment

Your email address will not be published.