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Tuesday, November 30, 2021

In a shock transfer, Elizabeth Holmes is testifying on the Theranos fraud trial

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Elizabeth Holmes, the founder and CEO of disgraced blood-testing firm Theranos, took the stand in her personal protection late Friday, in a shock transfer by the protection group. Holmes is being tried on costs of wire fraud and conspiracy to commit wire fraud, for allegedly deceptive traders and sufferers about Theranos’ blood testing machine.

Holmes took the stand simply after 6PM ET on Friday, to the shock of most within the courtroom. Verge editor Liz Lopatto, who has been overlaying the trial, mentioned Holmes appeared relaxed as she answered questions on her background and the corporate.

Theranos was as soon as valued at round $9 billion earlier than investigative reporter John Carreyrou wrote an expose for The Wall Street Journal that mentioned the corporate wasn’t utilizing its personal machine for the blood exams it was conducting, and firm staff had been involved the machine wasn’t correct. After extra WSJ stories confirmed that the corporate’s exams had been defective and it voided two years of results from its Edison blood-testing machine, Holmes was banned from operating labs, and Theranos dissolved in 2018.

The federal government rested its case on Friday morning, after a number of weeks, throughout which dozens of witnesses testified about Holmes and the work Theranos did. Her protection group is expected to argue that Ramesh “Sunny” Balwani, Holmes’ ex-boyfriend and enterprise associate at Theranos, was abusive towards her and “that any success she achieved was due to him.” Balwani is being tried individually subsequent 12 months.





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