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San Jose, CA — Former Theranos CEO Elizabeth Holmes spent another five hours at a witness stand on Tuesday proving criminal charges that she misunderstood investors, customers, and patients about the defective blood test technology she spent years on. Sparing with the Federal Prosecutor for the purpose of advertising as a medical advance.
Many of the second days of the cross-examination by Holmes government lawyer Robert Reach reflected the events of the first day when she struggled to remember the significant events that caused the fraudulent charges she faced.
Reach, like last week, pulled out his email six to nine years ago as part of an effort to convince a jury that Holmes knew about a serious problem with Theranos’ blood test equipment. I tried to shake it. She continued to welcome it as a big step forward. The pitch allowed Theranos to raise more than $ 900 million from investors and sign a deal to deploy technology at Walgreens pharmacies before it finally collapsed in 2018.
By 2014, Theranos had become a very popular product in Silicon Valley, with Holmes’ dominant stake in Palo Alto, California valued at $ 4.5 billion.
Holmes told Reach that he couldn’t remember emailing a Theranos investor a glorious Fortune cover story about her in June 2014.
Holmes never shakes from her position that he firmly believed that he was trying to complete the blood test technology he worked on in 2003 after dropping out of Stanford University and establishing a company in between vague memories. was.
This technique could scan for hundreds of potential illnesses and other health problems by piercing a finger and taking a few drops of blood, but it accomplishes that feat before Theranos fails. I couldn’t.
“When I testify that I can do it, I fully believe we can do it,” Holmes, 37, said on Tuesday. After being challenged to reach, Holmes admitted that “there is still work to be done.”
The relatively dry nature of Holmes’ testimony on her sixth day at the Witness Stand was in stark contrast to the vivid and painful memory she presented for the jury last week. At a potentially critical moment, Holmes exposed her to years of emotional and sexual abuse by her ex-girlfriend and business partner Sunny Balwani, while she was running Theranos. He accused him of adversely affecting some of the decisions and choices he made.
The 56-year-old Balwani was also Chief Operating Officer of Theranos from 2009 to 2016. During this period he lived secretly with Holmes. The couple broke up in 2016 after a series of explosive articles and regulatory audits in The Wall Street Journal revealed a highly inaccurate pattern of blood results produced by Theranos technology.
Balwani’s lawyer, Jeffrey Coopersmith, has violently denied Holmes’ allegations of abuse in court documents. Balwani is facing another fraud trial early next year.
The Holmes trial is nearing its end, and the jury will begin deliberations within the next two weeks. If convicted, Holmes could face up to 20 years in prison.
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