Elizabeth Holmes trial: Final arguments are about to begin

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After 15 weeks and 32 witnesses, the trial of Elizabeth Holmes, founder of the failed blood test start-up Theranos, has entered its final stages.

On Thursday morning, prosecutors are set to begin their final arguments to prove the 37-year-old Ms Holmes is guilty of 11 wire fraud and conspiracy to commit wire fraud.

His case is meticulously viewed as a referendum on the worst violations of Silicon Valley start-up culture, rewarding change-world claims and rapid growth. While tech start-ups are swimming in funding and hype, this ruling could affect whether prosecutors can pursue similar white-collar criminal cases.

The arbitral tribunal, comprising eight men and four women, will begin discussing Ms Holmes’ fate after the defense concludes its final arguments on Friday. Ms Holmes faces up to 20 years in prison if convicted.

The prosecution case proves one thing: Ms Holmes sought to deceive Theronos’ investors, doctors and patients with her claims about start-up blood testing technology. Former federal prosecutor James Melendres said proving the intent in conducting a white-collar criminal investigation is the hardest part.

“It goes into what’s going on in one’s mind, and it’s very difficult to prove for sure,” he said.

Before Theronos erupted, Ms Holmes stood alone as a rare successful female founder in the field of male-dominated technology. He founded Theranos in 2003, left Stanford in 2004, worked at Start-up and raised nearly $ 1 billion from investors for the company’s revolutionary blood test technology.

But a The Wall Street Journal investigation in 2015 found that Theronos’ technology did not work, and that Ms Holmes had been involved with investors and business partners with exaggerated and false claims. The company collapsed in 2018 amid corruption.

In the same year, Ms Holmes was charged with fraud. His trial began on September 8 after several delays.

Proponents of her case have been working to make the actual transcript of this statement available online.

The government called in former Theronos staff to testify about test failures and the malfunctioning laboratory environment. Physicians and patients talked about making clinical decisions based on what turned out to be Theranos tests. And investors and pharmaceutical company executives said Ms Holmes’ false claims led to her investing millions of dollars in Theronos or signing contracts with her company.

Last month, Ms Holmes portrayed herself as a well-intentioned entrepreneur who was naive and relied heavily on those around her. He said he was emotionally and physically abused by Theronos’ former CEO and his ex-boyfriend Ramesh Balwani. Mr. Balwani faces similar fraud charges to Ms Holmes and faces trial next year, denying the allegations.

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