Suman V

United States

Former Theranos executive Ramesh Sunny Balwani committed a massive fraud involving the blood-testing company after collaborating with disgraced Theranos CEO Elizabeth Holmes, a jury found Thursday. The 57-year-old has been found guilty of all 12 felony counts of defrauding. According to the jury, Balwani defrauded both the company's investors and the patients who relied on unreliable blood tests that could have affected their health. He could face up to 20 years in prison. The Judge Edward Davila Balwani’s sentencing date for Nov. 15, and raised his bail amount to $750,000. Also Read | Harshad Mehta scam: How Big Bull shook the Indian stock market,Theranos was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes. Starting in 2015, the company came under criticism in the media due to its questionable claims and practices. Later, the company was liquidated. Holmes was convicted on four counts of investor fraud and conspiracy earlier this year. She is scheduled to be sentenced in late September. Balwani was born in Pakistan and attended Aitchison College, a prestigious boarding school in Lahore. Balwani speaks Urdu, Hindi and English. His family eventually moved to India because being a Hindu in a mostly all-Muslim country of Pakistan was very difficult, according to Balwani's personal lawyer. They later immigrated to the United States. ,In 1987, Balwani began undergraduate studies at the University of Texas at Austin as an international student where he was a member of the Pakistani Students Association. ,Balwani left the campus sometime after 1991 to begin working,In official documents from the late 1990s, he was known as Ramesh, his given name. By 2012, he was signing papers at Theranos as Sunny Balwani. ,Also Read | Harshad Mehta's wife Jyoti brings Big Bull's side of story to light,He was married to Japanese artist Keiko Fujimoto, with whom lived in San Francisco before their divorce in December 2002. He was in a romantic relationship with Elizabeth Holmes during his tenure at Theranos. Balwani was portrayed by Naveen Andrews in the 2022 miniseries The Dropout, which documented his relationship with Holmes and his role within Theranos.

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<ul>
 <li>Balwani defrauded both the company's investors and the patients, the jury found</li>
 <li>He could face upto 20 years in prison</li>
 <li>Judge Edward Davila set his&nbsp;</li>
</ul>

Opoyi Central

Who is Ramesh 'Sunny' Balwani?

Fraud

ElizabethHolmes

California City, CA, USA

The fraud conviction of former Theranos CEO Elizabeth Holmes could offer Silicon Valley's culture of hubris and hype some valuable lessons. Will anyone in the tech industry actually take this moment to heart? Don't count on it. Holmes was found guilty on Monday of duping investors into believing that Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. She could face up to 20 years in prison for each charge, although legal experts say she is unlikely to receive the maximum sentence. Also Read: The rise and fall of Theranos founder Elizabeth Holmes,Federal prosecutors depicted Holmes as a charlatan obsessed with fame and fortune. In seven days on the witness stand, she cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani. The trial also laid bare the pitfalls of one of the go-to moves of Silicon Valley entrepreneurs — conveying a boundless optimism regardless of whether it's warranted, known as fake it 'til you make it. That ethos helped hatch groundbreaking companies such as Google, Netflix, Facebook, and Apple — the latter co-founded by one of Holmes' heroes, Steve Jobs. But few expect her conviction to lower the wattage on the brash promises and bold exaggerations that have become a routine part of the tech industry's innovation hustle. Also Read: From Silicon Valley star to 'fraud': Who is Theranos founder Elizabeth Holmes,Holmes' conviction will send a message to CEOs that there are consequences in overstepping the bounds, suggested Ellen Kreitzberg, a Santa Clara University law professor who attended the trial. On the other hand, she said, investors are still going to want to make more money on a promising idea. They will always go in for the golden ring. Holmes remained seated and expressed no visible emotion as the verdicts were read. She bowed her head several times before the jury was polled by U.S. District Judge Edward Davila. After the judge left the courtroom to meet with jurors individually, Holmes got up to hug her partner, Billy Evans, and her parents before leaving with her lawyers. The bold dream Holmes pursued when she founded Theranos in 2003 at the age of 19 had become a nightmare by the time she was indicted on felony charges in 2018. During that span, Holmes went from an unknown to a Silicon Valley sensation who had amassed a $4.5 billion fortune on paper to a vilified failure. Her downfall was dissected in documentaries, books, podcasts and will soon be rehashed in a Hulu TV series called The Dropout starring Amanda Seyfried in the lead role. ,Holmes set out to create a less painful, more convenient and cheaper way to scan for hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick instead of inserting a needle in a vein. She aimed to upend an industry dominated by giant testing companies such as Quest Diagnostics and Labcorp, starting with setting up mini-labs in Walgreens and Safeway stores across the U.S. that would use a small Theranos device called the Edison to run faster, less intrusive blood tests. The concept — and the way Holmes presented it — enthralled wealthy investors eager to buy an early stake in a game-changing company. It helped Theranos raise more than $900 million from savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison, as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway. Holmes also wooed a well-connected board that included two former U.S. secretaries of state, Henry Kissinger and the late George Shultz: two former secretaries of defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich. She charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab. What most people did not know at the time was that Theranos' blood-testing technology kept producing misleading results. That forced patients to undergo regular blood draws instead of the promised finger sticks and led Theranos to secretly test those samples using conventional machines in a traditional laboratory setting. Evidence presented at the trial also showed that Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military. The deception backfired in 2015 after a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company's technology, leading to its eventual collapse. During her testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but she often contended that she had forgotten the circumstance surrounding some of the key events spotlighted by the prosecution. She insisted she never stopped believing that Theranos was on the verge of refining its technology. Instead, she heaped blame on Balwani, who she secretly lived with while he was Theranos' chief operating officer from 2009 to 2016. Holmes testified that Balwani let her down by failing to address the laboratory problems that he had promised to fix and, in the most dramatic testimony of the trial, alleged he had turned her into his pawn through a long-running pattern of abuse while exerting control over her diet, sleeping habits and friendships. This all occurred, she said, after being raped by an unnamed assailant while she was still enrolled at Stanford.

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She could face up to 20 years in prison for each charge, although legal experts say she is unlikely to receive the maximum sentence.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read:&nbsp;<a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">The rise and fall of Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Federal prosecutors depicted Holmes as a charlatan obsessed with fame and fortune. In seven days on the witness stand, she cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The trial also laid bare the pitfalls of one of the go-to moves of Silicon Valley entrepreneurs — conveying a boundless optimism regardless of whether it's warranted, known as \\\"fake it 'til you make it.\\\" That ethos helped hatch groundbreaking companies such as Google, Netflix, Facebook, and Apple — the latter co-founded by one of Holmes' heroes, Steve Jobs.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But few expect her conviction to lower the wattage on the brash promises and bold exaggerations that have become a routine part of the tech industry's innovation hustle.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read:&nbsp;<a href=\\\"https://opoyi.com/health/who-is-elizabeth-holmes-296744/\\\">From Silicon Valley star to 'fraud': Who is Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' conviction \\\"will send a message to CEOs that there are consequences in overstepping the bounds,\\\" suggested Ellen Kreitzberg, a Santa Clara University law professor who attended the trial. On the other hand, she said, \\\"investors are still going to want to make more money on a promising idea. They will always go in for the golden ring.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes remained seated and expressed no visible emotion as the verdicts were read. She bowed her head several times before the jury was polled by U.S. District Judge Edward Davila. After the judge left the courtroom to meet with jurors individually, Holmes got up to hug her partner, Billy Evans, and her parents before leaving with her lawyers.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The bold dream Holmes pursued when she founded Theranos in 2003 at the age of 19 had become a nightmare by the time she was indicted on felony charges in 2018.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"During that span, Holmes went from an unknown to a Silicon Valley sensation who had amassed a $4.5 billion fortune on paper to a vilified failure. Her downfall was dissected in documentaries, books, podcasts and will soon be rehashed in a Hulu TV series called \\\"The Dropout\\\" starring Amanda Seyfried in the lead role. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes set out to create a less painful, more convenient and cheaper way to scan for hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick instead of inserting a needle in a vein. She aimed to upend an industry dominated by giant testing companies such as Quest Diagnostics and Labcorp, starting with setting up \\\"mini-labs\\\" in Walgreens and Safeway stores across the U.S. that would use a small Theranos device called the Edison to run faster, less intrusive blood tests.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The concept — and the way Holmes presented it — enthralled wealthy investors eager to buy an early stake in a game-changing company. It helped Theranos raise more than $900 million from savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison, as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes also wooed a well-connected board that included two former U.S. secretaries of state, Henry Kissinger and the late George Shultz: two former secretaries of defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich. She charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"What most people did not know at the time was that Theranos' blood-testing technology kept producing misleading results. That forced patients to undergo regular blood draws instead of the promised finger sticks and led Theranos to secretly test those samples using conventional machines in a traditional laboratory setting. Evidence presented at the trial also showed that Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The deception backfired in 2015 after a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company's technology, leading to its eventual collapse.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"During her testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but she often contended that she had forgotten the circumstance surrounding some of the key events spotlighted by the prosecution. She insisted she never stopped believing that Theranos was on the verge of refining its technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Instead, she heaped blame on Balwani, who she secretly lived with while he was Theranos' chief operating officer from 2009 to 2016.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes testified that Balwani let her down by failing to address the laboratory problems that he had promised to fix and, in the most dramatic testimony of the trial, alleged he had turned her into his pawn through a long-running pattern of abuse while exerting control over her diet, sleeping habits and friendships. This all occurred, she said, after being raped by an unnamed assailant while she was still enrolled at Stanford.\"}}]}

Vaishnavi Vaidyanathan

<ul>
 <li>The fraud conviction of Elizabeth Holmes could offer Silicon Valley's culture of hubris and hype some valuable lessons</li>
 <li>Holmes was found guilty on Monday of duping investors</li>
 <li>She could face up to 20 years in prison for each charge</li>
</ul>

What will Silicon Valley learn from Theranos founder Elizabeth Holmes' conviction?

Theranos

Business

UnitedStates

Shubham Banerjee

Washington D.C., DC, USA

A jury found fallen Silicon Valley star Elizabeth Holmes guilty of fraud for turning her blood-testing startup Theranos into a sophisticated sham — one that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as Holmes promised. Holmes was born in the American capital of Washington DC to accomplished parents - her father Christian Rasmus Holmes IV was a vice president at energy firm Enron and later held executive positions at government agencies such as USAID, EPA and USTDA while her mother worked as a Congressional committee staffer. ,She studied chemical engineering at the Stanford University in 2002 and worked as a student researcher and laboratory assistant in the School of Engineering. ,She dropped out of college in March, 2004 and user her tuition money as seed funding for a consumer healthcare technology company. Her founded the company 'Real-Time Cures' in Palo Alto, California, which she said was to democratise healthcare. ,Also Read | John McAfee, creator of famous '80s antivirus software, faces charges for fraud,The idea of testing small amounts of blood samples for vast amounts of data came from her fear of needles, thus giving birth to Theranos', which was rebranded from Real-Time Cures, unique selling point. ,An admirer of Steve Jobs, she styled herself in his image, often dressing in a black turtleneck sweater like the Apple founder and speaking in a deep baritone voice in most public appearances. However, there are conflicting reports about the Jobs impersonification, with Holmes and her family other reasons for the same. ,By the end of 2010, Theranos had accumulated over $92 million in venture capital and boasted an illustrious board of directors. In 2014, Forbes recognised her as the world's youngest female self-made billionaire and ranked her 110 on the Forbes 400, with the company itself valued at around $9 billion at its peak. ,Things started unravelling in 2015, when a Wall Street Journal expose revealed uncertainties about the accuracy and viability of the Theranos blood testing tech. Also Read | Trump tax record: 18-month court battle, and now over to Manhattan DA ,By 2016, the company was flooded with lawsuits and multiple government investigations, which found irregularities and finally being charged after investigations found their failures jeopardised patients' health. ,In 2018, Holmes and former Theranos Chief Operating Officer Ramesh 'Sunny' Balwani - who was also Holmes' onetime lover -were indicted on nine counts of wire fraud and two counts of conspiracy to commit fraud. Both pleaded not guilty and could face up to 20 years in prison. ,Her trial, already delayed thrice by the coronavirus pandemic, was set to start in July but is likely to be delayed again over her news of pregnancy. Balwani's trial is set to start in January 2022.

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<ul>
 <li>Elizabeth Holmes was declared the world's youngest female self-made billionaire in 2014</li>
 <li>Her biotech company, Theranos, was valued at $9 billion at its peak&nbsp;</li>
 <li>Her highly-anticipated criminal fraud trial has already been delayed thrice by the coronavirus pandemic</li>
</ul>

The rise and fall of Theranos founder Elizabeth Holmes

Trial

HealthCare

Startups

California, USA

Once the toast of Silicon Valley and beyond, Elizabeth Holmes is accused of duping investors and patients about a flawed blood-testing technology that she hailed as a medical breakthrough. At the age of 19, in 2003, the Stanford University dropout founded Theranos with the promise of revolutionizing the medical diagnostic industry with technology that would rapidly detect conditions such as cancer and diabetes with very small amounts of blood from a simple finger prick using small automated devices. ,She is the subject of multiple books, documentaries, an upcoming HBO television series, and has graced the cover of business magazines such as Inc, which dubbed her the 'next Steve Jobs'. Forbes called Holmes the world's youngest self-made female billionaire. Theranos reached a valuation of $10bn, having raised more than $700 million from venture capitalists and private investors, at its peak in 2013 and 2014. Holmes cited her fear of needles as her inspiration to revolutionize the medical industry and eliminate the need for large blood samples for diagnostics. Those claims turned out to be fabricated, leading to the collapse of Theranos in September 2018. Despite more than 70 patents for blood-testing technology since 2003, Theranos failed to build a reliable blood-testing device. ,Born into a well-off family in Washington DC, Holmes' great great grandfather was among the founders of Fleischmann's Yeast, which changed America's bread industry during the 19th century. At age nine, Holmes wrote a letter to her father declaring that what she really want[ed] out of life is to discover something new, something that mankind didn't know was possible to do, according to the BBC. While she was studying chemical engineering at Stanford University in 2002, Holmes came up with an idea for a skin patch that could scan infections and release antibiotics as needed. Holmes' company found backing from different fields including US Treasury Secretary George Schultz, celebrated Marine Corps general James Mattis, former US Secretary of State Henry Kissinger and media mogul Rupert Murdoch. America's richest family and Walmart founder, the Waltons, also invested in Theranos. ALSO READ: Promising bail, conmen dupe wives of jailed ex-promoters of Religare,But Holmes' fall to grace was as swift as her rise to the top as a whistleblower raised concerns about Theranos's flagship testing device, the Edison, in 2015. The Wall Street Journal did a series of reports exposing the unreliability of the tests. Lawsuits followed and in 2016 US regulators banned Holmes from operating a blood-testing service for two years. In March 2018, Holmes settled civil charges of having fraudulently raised $700m from investors. She was arrested three months later, along with boyfriend and business partner, Manesh 'Sunny' Balwani, on criminal charges of wire fraud and conspiracy to commit wire fraud. ALSO READ: International scamsters stole billions in COVID benefits in US: Report,Prosecutors claim she knowingly misled patients about the tests and vastly exaggerated the firm's performance to financial backers. Holmes was released on bail and in 2019 got married to William Billy Evans, 27, an heir to the Evans Hotel Group chain of hotels. They had a son in July this year.

{\"time\":1641260359109,\"strCount\":3699,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Once the toast of Silicon Valley and beyond, Elizabeth Holmes is accused of duping investors and patients about a flawed blood-testing technology that she hailed as a medical breakthrough. At the age of 19, in 2003, the <a href=\\\"https://opoyi.com/science/light-coming-from-behind-a-black-hole-detected-proves-einsteins-100-year-old-theory-534722/\\\">Stanford University</a> dropout founded Theranos with the promise of revolutionizing the medical diagnostic industry with technology that would rapidly detect conditions such as cancer and diabetes with very small amounts of blood from a simple finger prick using small automated devices. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"She is the subject of multiple books, documentaries, an upcoming HBO television series, and has graced the cover of business magazines such as Inc, which dubbed her the 'next Steve Jobs'. Forbes called <a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">Holmes </a>\\\"the world's youngest self-made female billionaire.\\\" Theranos reached a valuation of $10bn, having raised more than $700 million from venture capitalists and private investors, at its peak in 2013 and 2014.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes cited her fear of needles as her inspiration to revolutionize the medical industry and eliminate the need for large blood samples for diagnostics.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Those claims turned out to be fabricated, leading to the collapse of Theranos in September 2018. Despite more than 70 patents for blood-testing technology since 2003, Theranos failed to build a reliable blood-testing device. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Born into a well-off family in Washington DC, Holmes' great great grandfather was among the founders of Fleischmann's Yeast, which changed America's bread industry during the 19th century. At age nine, Holmes wrote a letter to her father declaring that what she \\\"really want[ed] out of life is to discover something new, something that mankind didn't know was possible to do,\\\" according to the BBC.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"While she was studying chemical engineering at Stanford University in 2002, Holmes came up with an idea for a skin patch that could scan infections and release antibiotics as needed.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' company found backing from different fields including US Treasury Secretary George Schultz, celebrated Marine Corps general James Mattis, former US Secretary of State Henry Kissinger and media mogul Rupert Murdoch. America's richest family and Walmart founder, the Waltons, also invested in Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"ALSO READ:&nbsp;<a href=\\\"https://opoyi.com/india/promising-bail-conmen-dupe-wives-of-jailed-ex-promoters-of-religare-554874/\\\">Promising bail, conmen dupe wives of jailed ex-promoters of Religare</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But Holmes' fall to grace was as swift as her rise to the top as a whistleblower raised concerns about Theranos's flagship testing device, the Edison, in 2015. The Wall Street Journal did a series of reports exposing the unreliability of the tests. Lawsuits followed and in 2016 US regulators banned Holmes from operating a blood-testing service for two years.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In March 2018, Holmes settled civil charges of having fraudulently raised $700m from investors. She was arrested three months later, along with boyfriend and business partner, Manesh 'Sunny' Balwani, on criminal charges of wire fraud and conspiracy to commit wire fraud.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"ALSO READ:&nbsp;<a href=\\\"https://opoyi.com/usa/international-scamsters-stole-billions-in-covid-benefits-in-us-report-219537/\\\">International scamsters stole billions in COVID benefits in US: Report</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Prosecutors claim she knowingly misled patients about the tests and vastly exaggerated the firm's performance to financial backers. Holmes was released on bail and in 2019 got married to William \\\"Billy\\\" Evans, 27, an heir to the Evans Hotel Group chain of hotels. They had a son in July this year.\"}}]}

Hamid

<ul>
 <li>Elizabeth Holmes dropped out of Stanford University to set up the blood testing startup in 2003</li>
 <li>Theranos reached a valuation of $10 billion at its peak before its collapse in 2018</li>
 <li>Holmes cited her fear of needles as her inspiration to revolutionize the medical industry</li>
</ul>

Ajay Joseph

From Silicon Valley star to 'fraud': Who is Theranos founder Elizabeth Holmes

Technology

Health

Medicine

Forbes

A jury found fallen Silicon Valley star Elizabeth Holmes guilty of fraud for turning her blood-testing startup Theranos into a sophisticated sham — one that duped billionaires and other unwitting investors into backing a seemingly revolutionary company whose medical technology never worked as Holmes promised. The 37-year-old Holmes was found guilty on 2 counts of wire fraud and 2 counts of conspiracy to commit fraud on Monday after 7 days of deliberation. The jury decision followed a three-month trial featuring dozens of witnesses — including Holmes herself — and numerous exhibits. She now faces up to 20 years in prison for each guilty count, although legal experts say she is unlikely to receive anything close to the maximum sentence. The jury deadlocked on the three remaining charges. The split verdicts are a mixed bag for the prosecution, but it's a loss for Elizabeth Holmes because she is going away to prison for at least a few years, said David Ring, a lawyer who has been following the Holmes case closely. Federal prosecutors spent much of the trial providing testimony and evidence to depict Holmes as a charlatan obsessed with fame and fortune. In seven days on the witness stand, Holmes cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani. Also Read: The rise and fall of Theranos founder Elizabeth Holmes,Holmes, who had bowed her head several times before the jury was polled by U.S. District Judge Edward Davila, remained seated and expressed no visible emotion as the verdicts were read. Her partner, Billy Evans, showed agitation in earlier moments but appeared calm during the verdict reading. After the judge left the courtroom to meet with jurors individually, Holmes got up to hug Evans and her parents before leaving with her lawyers. Prison time would separate Holmes from her newborn son, whose birth last summer forced a delay in the trial. Holmes' parenthood was not disclosed to the jury during the trial. Davila will determine Holmes' sentence. The trial provided a detailed look inside one of the go-to- moves of Silicon Valley entrepreneurs — conveying a boundless optimism regardless of whether its warranted or not, known as fake it 'til you make it. That ethos helped hatch groundbreaking companies such as Google, Netflix, Facebook, and Apple — the latter, of course, co-founded by one of Holmes' heroes, Steve Jobs. But the bold dream Holmes pursued when founded Theranos in 2003 at the age of 19 had become a mortifying nightmare by the time she was indicted on felony charges in 2018. Her conviction might lower the wattage — at least temporarily — on the brash promises and bold exaggerations that have become a routine part of the tech industry's innovation hustle. During that span, Holmes went from an unknown to a Silicon Valley sensation who had amassed a $4.5 billion fortune on paper to a vilified failure. Her downfall has been dissected in documentaries, books, podcasts and soon will be rehashed in a Hulu TV series called The Dropout starring Amanda Seyfried in the lead role. ,Holmes set out to create a more humane, convenient, and cheaper way to scan for hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick instead of sticking a needle in people's veins. She aimed to upend an industry dominated by giant testing companies such as Quest Diagnostics and Labcorp, starting with setting up mini-labs in Walgreens and Safeway stores across the U.S. that would use a small Theranos device called the Edison to run better, faster and less intrusive blood tests. The concept -- and the way Holmes presented it -- enthralled wealthy investors eager to buy an early stake in a game-changing company. It helped Theranos raise more than $900 million from savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison, as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway. Holmes also wooed a well-connected board that included two former U.S. Secretaries of State, Henry Kissinger and the late George Shultz: two former Secretaries of Defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich. She even charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab. ,What most people didn't know at the time was that Theranos' blood-testing technology kept producing misleading results. That forced patients to undergo regular venous blood draws instead of the promised fingersticks and led Theranos to secretly test those samples using conventional machines in a traditional laboratory setting. Evidence presented at the trial also showed Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military. The deception eventually backfired in 2015 after a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company's technology, leading to the company's eventual collapse. During her seven days of testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but often contended that she'd forgotten the circumstance surrounding some of the key events spotlighted by the prosecution. She insisted she never stopped believing that Theranos was on the verge of refining its technology. Instead, she heaped blame on Balwani, who she secretly lived with while he was Theranos' chief operating officer from 2009 to 2016. Holmes testified that Balwani let her down by failing to fix the laboratory problems that he had promised to fix and, in the most dramatic testimony of the trial, alleged he had turned her into his pawn through a long-running pattern of abuse while exerting control over her diet, sleeping habits and friendships. This all occurred, she said, after being raped by an unnamed assailant while she was still enrolled at Stanford.

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She now faces up to 20 years in prison for each guilty count, although legal experts say she is unlikely to receive anything close to the maximum sentence.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"<a href=\\\"https://opoyi.com/usa/elizabeth-holmes-jury-deadlocked-on-three-of-11-fraud-charges-478357/\\\">The jury deadlocked</a> on the three remaining charges. The split verdicts are \\\"a mixed bag for the prosecution, but it's a loss for Elizabeth Holmes because she is going away to prison for at least a few years,\\\" said David Ring, a lawyer who has been following the Holmes case closely.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Federal prosecutors spent much of the trial providing testimony and evidence to depict Holmes as a charlatan obsessed with fame and fortune. In seven days on the witness stand, Holmes cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read:&nbsp;<a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">The rise and fall of Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes, who had bowed her head several times before the jury was polled by U.S. District Judge Edward Davila, remained seated and expressed no visible emotion as the verdicts were read. Her partner, Billy Evans, showed agitation in earlier moments but appeared calm during the verdict reading. After the judge left the courtroom to meet with jurors individually, Holmes got up to hug Evans and her parents before leaving with her lawyers.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Prison time would separate Holmes from her newborn son, whose birth last summer forced a delay in the trial. Holmes' parenthood was not disclosed to the jury during the trial. Davila will determine Holmes' sentence.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The trial provided a detailed look inside one of the go-to- moves of Silicon Valley entrepreneurs — conveying a boundless optimism regardless of whether its warranted or not, known as \\\"fake it 'til you make it.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"That ethos helped hatch groundbreaking companies such as Google, Netflix, Facebook, and Apple — the latter, of course, co-founded by one of Holmes' heroes, Steve Jobs.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But the bold dream Holmes pursued when founded Theranos in 2003 at the age of 19 had become a mortifying nightmare by the time she was indicted on felony charges in 2018. Her conviction might lower the wattage — at least temporarily — on the brash promises and bold exaggerations that have become a routine part of the tech industry's innovation hustle.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"During that span, Holmes went from an unknown to a Silicon Valley sensation who had amassed a $4.5 billion fortune on paper to a vilified failure. Her downfall has been dissected in documentaries, books, podcasts and soon will be rehashed in a Hulu TV series called \\\"The Dropout\\\" starring Amanda Seyfried in the lead role. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes set out to create a more humane, convenient, and cheaper way to scan for hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick instead of sticking a needle in people's veins. She aimed to upend an industry dominated by giant testing companies such as Quest Diagnostics and Labcorp, starting with setting up \\\"mini-labs\\\" in Walgreens and Safeway stores across the U.S. that would use a small Theranos device called the Edison to run better, faster and less intrusive blood tests.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The concept -- and the way Holmes presented it -- enthralled wealthy investors eager to buy an early stake in a game-changing company. It helped Theranos raise more than $900 million from savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison, as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes also wooed a well-connected board that included two former U.S. Secretaries of State, Henry Kissinger and the late George Shultz: two former Secretaries of Defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich. She even charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"What most people didn't know at the time was that Theranos' blood-testing technology kept producing misleading results. That forced patients to undergo regular venous blood draws instead of the promised fingersticks and led Theranos to secretly test those samples using conventional machines in a traditional laboratory setting. Evidence presented at the trial also showed Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The deception eventually backfired in 2015 after a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company's technology, leading to the company's eventual collapse.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"During her seven days of testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but often contended that she'd forgotten the circumstance surrounding some of the key events spotlighted by the prosecution. She insisted she never stopped believing that Theranos was on the verge of refining its technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Instead, she heaped blame on Balwani, who she secretly lived with while he was Theranos' chief operating officer from 2009 to 2016. Holmes testified that Balwani let her down by failing to fix the laboratory problems that he had promised to fix and, in the most dramatic testimony of the trial, alleged he had turned her into his pawn through a long-running pattern of abuse while exerting control over her diet, sleeping habits and friendships. This all occurred, she said, after being raped by an unnamed assailant while she was still enrolled at Stanford.\"}}]}

<ul>
 <li>Former Theranos CEO Elizabeth Holmes was convicted on four counts of fraud and conspiracy</li>
 <li>The jury found her not guilty of four other felony charges</li>
 <li>On the three remaining charges, the jury was deadlocked</li>
</ul>

Theranos founder Elizabeth Holmes convicted in Silicon Valley fraud trial

The jury weighing fraud charges against former Theranos CEO Elizabeth Holmes on Monday said it is deadlocked on three of the 11 felony counts against her, signaling the end may be near for a legal drama that's captivated Silicon Valley. Holmes, a once-celebrated entrepreneur, is accused of duping investors and patients about a flawed blood-testing technology that she hailed as a medical breakthrough. Also Read: Why Theranos founder Elizabeth Holmes is facing trial,After receiving a note from the jury, U.S. District Judge Edward Davila summoned the eight men and four women back to the courtroom where Holmes' trial took place. He urged them to re-examine their positions while adhering to their instructions to only return a guilty verdict if convinced beyond a reasonable doubt. Take as much time as necessary. There is no hurry, Davila emphasized. ,The jury then returned to its deliberations, which have taken more than 40 hours so far. They have sent out three notes, but Monday's marked their first communication to the judge that directly addressed potential verdicts. That note also means that jurors have agreed on verdicts on eight of the charges facing Holmes. Nine of the 11 counts are fraud charges and two revolve around a conspiracy to commit fraud from 2010 to 2015. During that time, Holmes became a Silicon Valley sensation, one worth $4.5 billion on paper based on her promise that Theranos' technology would revolutionize health care. Also Read: The rise and fall of Theranos founder Elizabeth Holmes,If convicted of any of the charges, Holmes, 37, could face up to 20 years in federal prison. For all intents and purposes, the government only needs a guilty verdict on one count, said Keri Curtis Axel, a former federal prosecutor now working as a trial lawyer at the Los Angeles law firm Waymaker. She said the hang-up on three counts makes it more likely that jurors have reached guilty verdicts on at least some of the other counts. ,Robert Leach, a federal prosecutor who grilled Holmes when she took the witness stand to defend herself during the three-month trial, supported the judge's decision to send the jury back to their deliberations. ,Both sides have an interest in resolution on all counts, Leach told Davila outside the jury's presence. David Ring, a lawyer who has been following the Holmes case closely, also interpreted Monday's note as an indication that Holmes is likely to be convicted on some counts. He expects a resolution this week. ,It could go another day or so before the jury either comes back with a verdict on all counts or sends another note telling the judge they're still stuck, Ring said. Holmes was present at Monday's hearing to review the jury's note. She looked across the courtroom at the jurors when they walked in and walked out, but none appeared to return her glance. Once the jurors were gone, Holmes turned around and hugged her mother, who was sitting behind her. Her father then kissed her forehead through his mask, which court rules require of everyone present. After starting Theranos in 2003 as a 19-year-old college dropout, Holmes began working on a technology that she repeatedly promised would be able to scan for hundreds of health issues with just a few drops of blood taken with a finger prick. Conventional methods requires a needle inserted into a person's vein to draw a vial of blood for each test, which must then be carried out at large laboratories. Holmes believed she could provide more humane, convenient and cheaper blood tests with mini-labs in Walgreens and Safeway stores across the U.S. using a small testing device dubbed Edison in homage to the famous inventor. The concept proved to be compelling. Theranos raised more than $900 million from a long list of elite investors, including savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison. But most people didn't know that the Theranos blood-testing technology kept producing misleading results that led the company to secretly rely on conventional blood testing. Evidence presented at the trial also showed Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military. In 2015, a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos' lab uncovered potentially dangerous flaws in the company's technology, leading to the company's eventual collapse.

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He urged them to re-examine their positions while adhering to their instructions to only return a guilty verdict if convinced beyond a reasonable doubt.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\" \\\"Take as much time as necessary. There is no hurry,\\\" Davila emphasized. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The jury then returned to its deliberations, which have taken more than 40 hours so far. They have sent out three notes, but Monday's marked their first communication to the judge that directly addressed potential verdicts.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"That note also means that jurors have agreed on verdicts on eight of the charges facing Holmes. Nine of the 11 counts are fraud charges and two revolve around a conspiracy to commit fraud from 2010 to 2015. During that time, Holmes became a Silicon Valley sensation, one worth $4.5 billion on paper based on her promise that Theranos' technology would revolutionize health care.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read:&nbsp;<a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">The rise and fall of Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"If convicted of any of the charges, Holmes, 37, could face up to 20 years in federal prison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"For all intents and purposes, the government only needs a guilty verdict on one count,\\\" said Keri Curtis Axel, a former federal prosecutor now working as a trial lawyer at the Los Angeles law firm Waymaker. She said the hang-up on three counts makes it more likely that jurors have reached guilty verdicts on at least some of the other counts. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Robert Leach, a federal prosecutor who grilled Holmes when she took the witness stand to defend herself during the three-month trial, supported the judge's decision to send the jury back to their deliberations. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"Both sides have an interest in resolution on all counts,\\\" Leach told Davila outside the jury's presence.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"David Ring, a lawyer who has been following the Holmes case closely, also interpreted Monday's note as an indication that Holmes is likely to be convicted on some counts. He expects a resolution this week. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"It could go another day or so before the jury either comes back with a verdict on all counts or sends another note telling the judge they're still stuck,\\\" Ring said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes was present at Monday's hearing to review the jury's note. She looked across the courtroom at the jurors when they walked in and walked out, but none appeared to return her glance. Once the jurors were gone, Holmes turned around and hugged her mother, who was sitting behind her. Her father then kissed her forehead through his mask, which court rules require of everyone present.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"After starting Theranos in 2003 as a 19-year-old college dropout, Holmes began working on a technology that she repeatedly promised would be able to scan for hundreds of health issues with just a few drops of blood taken with a finger prick. Conventional methods requires a needle inserted into a person's vein to draw a vial of blood for each test, which must then be carried out at large laboratories.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes believed she could provide more humane, convenient and cheaper blood tests with \\\"mini-labs\\\" in Walgreens and Safeway stores across the U.S., using a small testing device dubbed \\\"Edison\\\" in homage to the famous inventor.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The concept proved to be compelling. Theranos raised more than $900 million from a long list of elite investors, including savvy billionaires such as media mogul Rupert Murdoch and software magnate Larry Ellison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But most people didn't know that the Theranos blood-testing technology kept producing misleading results that led the company to secretly rely on conventional blood testing. Evidence presented at the trial also showed Holmes lied about purported deals that Theranos had reached with big drug companies such as Pfizer and the U.S. military.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In 2015, a series of explosive articles in The Wall Street Journal and a regulatory audit of Theranos' lab uncovered potentially dangerous flaws in the company's technology, leading to the company's eventual collapse.\"}}]}

<ul>
 <li>The jury said it is deadlocked on three of the 11 felony counts against Elizabeth Holmes</li>
 <li>Holmes is accused of duping investors and patients about a flawed blood-testing technology</li>
 <li>If convicted of any of the charges, Holmes, 37, could face up to 20 years in federal prison</li>
</ul>

Elizabeth Holmes jury deadlocked on three of 11 fraud charges

Justice

San Jose, CA, USA

After an extended holiday break, the jury weighing fraud charges against former Theranos CEO Elizabeth Holmes will get back to work Monday. The eight men and four women who will determine Holmes' fate spent much of their holiday season behind closed doors in a San Jose, California, courthouse, weighing reams of evidence presented during a three-month trial that captivated Silicon Valley. ,When they were still unable to reach a verdict by the middle of last week, the jurors were given Thursday off before an already scheduled court holiday on Friday. They hadn't provided any inkling where they stood in their deliberations last week after sending two notes to the federal judge presiding over the case the previous week. No reason was given for pausing the deliberations earlier than expected last week. The jury so far has spent a total of roughly 40 hours across six days discussing the charges against Holmes, a tarnished technology star facing up to 20 years in prison if she is found guilty. Holmes, 37, is facing 11 criminal charges alleging that she duped investors and patients by hailing her company’s blood-testing technology as a medical breakthrough when in fact it was prone to wild errors. Before those problems were exposed in 2015 and 2016 by stories in The Wall Street Journal and a regulatory audit, Holmes briefly realized her aspirations for fame and fortune while raising more than $900 million from a list of renowned investors that included media mogul Rupert Murdoch, software mogul Larry Ellison and the Walton family behind Walmart. ,At Theranos' height, Holmes had amassed a fortune of $4.5 billion on paper and was being lionized as a visionary on cover stories in business magazines. The jury will now spend its seventh day trying to decide if she was a crook.

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<ul>
 <li>The jury weighing &nbsp;Holmes' fate spent much of their holiday season behind closed doors in a California courthouse</li>
 <li>The jury so far has spent a total of roughly 40 hours across six days discussing the charges against Holmes</li>
 <li>Holmes, 37, is facing 11 criminal charges alleging that she duped investors and patients</li>
</ul>

Elizabeth Holmes jury to resume deliberations after holiday break

jury

World

Sucharita Ganguly

Jurors on Friday began deliberating the fate of Theranos founder Elizabeth Holmes, after the prosecution and defence portrayed diametrically opposed portraits of the entrepreneur who once wowed Silicon Valley but is now accused of fraud. Assistant US Attorney John Bostic said Holmes embraced dishonesty in an attempt to preserve the blood testing startup in the last hours of a three-month trial. Also read: In pics: Joe Biden presents 3 soldiers with top military award for valor,She committed these crimes because she was desperate for the company to succeed, he said. The jury went home for the evening after receiving the case on Friday. They were supposed to come back on Monday. According to her lawyers, Holmes hoped Theranos would revolutionise medicine with small devices that could do a wide range of blood tests on a few drops from a finger prick, contending that the company's failure was not a crime. Holmes chose fraud over business failure, according to Assistant US Attorney Jeffrey Schenk, who spoke out on Thursday. The decision was not merely cruel, but illegal. Also read: Joe Biden signs legislation pushing US borrowing limit by $2.5 trillion,Schenk attempted to debunk Holmes' allegations that she had never willfully misled investors or patients. During a 2015 regulation inspection, he reminded jurors of a text message sent by Holmes to her former business partner and lover, Ramesh Sunny Balwani, in which she said she was praying basically nonstop. She is charged with fraud on nine charges and conspiracy on two counts. Theranos' dizzying rise and catastrophic fall transformed Holmes from a youthful billionaire to a suspect who, if convicted, might spend years in prison. Theranos, which was once valued at $9 billion, went bankrupt after the Wall Street Journal published a series of articles in 2015 alleging that its gadgets were faulty and incorrect. Also read: CDC panel recommends Moderna, Pfizer COVID vaccines over Johnson & Johnson,The evidence did not suggest Holmes was driven by a cash shortage at Theranos, according to Holmes' attorney Kevin Downey, but rather that she believed she was creating a technology that would alter the world. You know that at the first sign of trouble, crooks cash out, but Holmes stayed, Downey said. She went down with that ship when it went down.

{\"time\":1639817753547,\"strCount\":2672,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Jurors on Friday began deliberating the fate of Theranos founder Elizabeth Holmes, after the prosecution and defence portrayed diametrically opposed portraits of the entrepreneur who once wowed Silicon Valley but is now accused of fraud.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Assistant US Attorney John Bostic said Holmes embraced dishonesty in an attempt to preserve the blood testing startup in the last hours of a three-month trial.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/in-pics-joe-biden-presents-3-soldiers-with-top-military-award-for-valor-613898/\\\">In pics: Joe Biden presents 3 soldiers with top military award for valor</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"She committed these crimes because she was desperate for the company to succeed,\\\" he said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The jury went home for the evening after receiving the case on Friday. They were supposed to come back on Monday.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"According to her lawyers, Holmes hoped Theranos would revolutionise medicine with small devices that could do a wide range of blood tests on a few drops from a finger prick, contending that the company's failure was not a crime.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes \\\"chose fraud over business failure,\\\" according to Assistant US Attorney Jeffrey Schenk, who spoke out on Thursday. The decision was \\\"not merely cruel, but illegal.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/joe-biden-signs-legislation-pushing-us-borrowing-limit-by-25-trillion-533116/\\\">Joe Biden signs legislation pushing US borrowing limit by $2.5 trillion</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Schenk attempted to debunk Holmes' allegations that she had never willfully misled investors or patients. During a 2015 regulation inspection, he reminded jurors of a text message sent by Holmes to her former business partner and lover, Ramesh \\\"Sunny\\\" Balwani, in which she said she was \\\"praying basically nonstop.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"She is charged with fraud on nine charges and conspiracy on two counts.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Theranos' dizzying rise and catastrophic fall transformed Holmes from a youthful billionaire to a suspect who, if convicted, might spend years in prison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Theranos, which was once valued at $9 billion, went bankrupt after the Wall Street Journal published a series of articles in 2015 alleging that its gadgets were faulty and incorrect.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/lifestyle/cdc-panel-recommends-moderna-pfizer-covid-vaccines-over-johnson-and-johnson-536166/\\\">CDC panel recommends Moderna, Pfizer COVID vaccines over Johnson &amp; Johnson</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The evidence did not suggest Holmes was driven by a cash shortage at Theranos, according to Holmes' attorney Kevin Downey, but rather that she believed she was \\\"creating a technology that would alter the world.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"You know that at the first sign of trouble, crooks cash out,\\\" but Holmes stayed, Downey said. \\\"She went down with that ship when it went down.\\\"\"}}]}

<ul>
 <li>Jurors on Friday began deliberating the fate of Theranos founder Elizabeth Holmes</li>
 <li>Assistant US Attorney John Bostic said Holmes embraced dishonesty in an attempt to preserve the blood testing startup</li>
</ul>

Theranos' Holmes faces jury in fraud case

Thenaros

Legal

Former Theranos CEO Elizabeth Holmes spent another five hours on the witness stand Tuesday sparring with a federal prosecutor aiming to prove criminal allegations that she misled investors, customers, and patients about a flawed blood-testing technology that she spent years touting as a medical breakthrough. Much of Holmes’ second day of cross-examination by government lawyer Robert Leach mirrored what happened during the first day when she struggled to recall key events that triggered the fraud charges facing her. Also read: Defense rests after Jussie Smollett repeatedly denies 'hoax',As he did last week, Leach repeatedly tried to jog her memory by pulling up her own emails from six to nine years ago, as part of his efforts to persuade a jury that Holmes knew about serious problems with Theranos’ blood-testing equipment, even as she continued to hail it as a major step forward. That pitch helped Theranos raise more than $900 million from investors and strike a deal to roll out its technology in Walgreens pharmacies before its eventual collapse in 2018. By 2014, Theranos was such a hot commodity in Silicon Valley that Holmes’ controlling stake in the Palo Alto, California, company was valued at $4.5 billion. Also read: China more cautious with its approach to Africa from debt to vaccine diplomacy,Holmes told Leach she couldn’t even remember emailing Theranos investors a glowing Fortune magazine cover story about her in June 2014 that catapulted her to Silicon Valley stardom or giving a July 2013 slide presentation to Walgreens executives that helped Theranos seal its pharmacy deal. In between her vague recollections, Holmes never wavered from her stance that she firmly believed that Theranos was on the verge of perfecting a blood-testing technology that she began working on in 2003 after dropping out of Stanford University to start the company. The technology was supposed to be able to scan for hundreds of potential diseases and other health problems with a few drops of blood taken with a finger prick, but never came close to pulling that feat off before Theranos’ failure. Also read: Steve Bannon's contempt charge trial scheduled for July 2022,“When I testified we could do it, I fully believe we could do it,” Holmes, 37, said Tuesday. After being challenged by Leach, Holmes then acknowledged, “There was still work to be done.”,The relatively dry nature of Holmes’ testimony during her sixth day on the witness stand contrasted sharply with the vivid and painful memories she laid out for the jury last week. In a potentially pivotal moment, Holmes charged that her former lover and business partner, Sunny Balwani, had subjected her to years of emotional and sexual abuse that adversely affected some of the decisions and choices she made while running Theranos. Also read: European allies urge diplomacy, eased Ukraine-Russia tensions: White House,Balwani, 56, was also Theranos’ chief operating officer from 2009 to 2016 -- a period during which he was also secretly living with Holmes. The couple broke up in 2016 after a series of explosive articles in The Wall Street Journal and a regulatory audit uncovered a pattern of grossly inaccurate blood results being produced on Theranos technology. Jeffrey Coopersmith, Balwani’s attorney, has vehemently denied Holmes’ abuse allegations in court documents. Balwani faces a separate fraud trial early next year. Holmes’ trial is nearing its end now, with the jury expected to begin deliberations within the next two weeks. If convicted, Holmes could face up to 20 years in prison.

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<ul>
 <li>Leach repeatedly tried to jog her memory by pulling up her own emails from six to nine years ago</li>
 <li>That pitch helped Theranos raise more than $900 million from investors</li>
 <li>By 2014, Theranos was such a hot commodity in Silicon Valley</li>
</ul>

Theranos founder Elizabeth Holmes faces cross-examination

entrepreneur

One-time entrepreneur Elizabeth Holmes, under questioning by prosecutors, struggled Tuesday to recall key events that led to her facing criminal fraud charges for allegedly fleecing investors and customers of her failed blood-testing startup Theranos. Her cross-examination began the day after she shared painfully vivid memories of alleged abuse by her ex-lover and business partner, Sunny Balwani. In between bouts of hazy recollection, Holmes wept on the witness stand after the federal prosecutor interrogating her asked to read aloud some of the amorous texts that she and Balwani exchanged during a five-year period while they were running Theranos and living together in a stealth romantic relationship. Also read: US CDC tightens Omicron surveillance at major international airports,“U are God's tigress and warrior. You are extraordinary, Balwani cooed to Holmes in a 2015 documents displayed in court Tuesday. Holmes quickly responded with this text: “Coming from my tiger means the whole universe to me. While poring over the old texts, Holmes occasionally dabbed away tears and wiped her nose with a tissue. The jury watched and listened along with a packed courtroom that included one person who trained a pair of binoculars on Holmes from a back row. The drama unfolded the day after Holmes cast herself as a victim of Balwani's abusive and controlling behavior while they were romantically involved from 2005 to 2016. Balwani, 56, also served as Theranos' chief operating officer from 2009 to 2016 while Holmes, 37, was the CEO and controlling shareholder. Also read: FDA panel backs Merck's COVID pill in a close vote,As part of her testimony, Holmes said she was raped at Stanford — a traumatic experience that she asserted Balwani exploited to control everything from her diet to her friendships. Both Holmes and Balwani are now fighting criminal charges of duping investors and patients into believing that Theranos has invented a device that could scan for hundreds of potential health problems with a few drops of blood. After raising nearly $1 billion, Theranos collapsed amid revelations that the purportedly revolutionary technology she was peddling was horribly flawed. Holmes' trial, which began in early September, is now heading toward its climax. Holmes will return to the stand on Dec. 7. Her testimony could wrap up that day, raising the possibility that jury deliberations could begin by the end of next week. Also read: Anything but accurate: Gucci family lashes out against 'House of Gucci',Balwani, who is being tried separately, is expected to face the court early next year. His attorney, Jeffrey Coopersmith, has denied Holmes' allegations of “intimate partner abuse. Coopersmith on Tuesday also told U.S. District Judge Edward Davila that Balwani would assert his Fifth Amendment right against self-incrimination if he were called to testify in Holmes' trial. Although Holmes has been on the stand since Nov. 19, Tuesday marked the first opportunity for federal prosecutors to grill her under oath. Robert Leach, the government lawyer confronting Holmes, didn't touch upon Holmes' alleged rape nor her testimony about Balwani berating her, sometimes in profane terms. Instead, he used roughly 12,000 texts sent between Holmes and Balwani to counter her contention that they had a relationship that was more toxic than romantic. At one point, Leach asked Holmes if she would be surprised if the word “love appeared 594 times in the texts obtained by the government and the word “loving was used 105 times. “No, Holmes said with a slight smile. Also read: Texas man jailed for spending COVID funds on luxury items,But Holmes spent much of Tuesday responding “I don't remember and “I don't know” to Leach's questions about key incidents in the startup's history. She claimed forgetfulness so frequently that Leach made the phrase “let’s see if I can refresh your memory a common refrain as he presented her with document after document related to the fraud charges. Leach seemed intent on proving that Holmes she knew she was making false statements to investors and Walgreens, which briefly used Theranos' blood tests in its pharmacies. Holmes' apparent forgetfulness contrasted sharply with her clear recall of her interactions with Balwani — some of them dating back more than a decade. But she also seemed to have reflected on her behavior at Theranos. She expressed remorse for the way she responded to the concerns of two former employees and her attempts to stop the 2015 publication of a Wall Street Journal expose that helped lead to Theranos' collapse. Also read: Omicron scare, Federal Reserve announcement contributes to stock dip,“I could not say more strongly that the way we handled the Wall Street Journal process was a total disaster. We really messed up, Holmes said. John Carreyrou, the reporter who wrote the Wall Street Journal story and a book about Theranos' rise and fall, sat in the back of the courtroom during Holmes' moment of contrition while taking notes for a podcast he has been doing about the trial. Holmes also acknowledged she was too quick to dismiss warnings from the two former employees, Erika Cheung and Tyler Shultz, who reported that Theranos' blood-testing device — dubbed Edison — was delivering inaccurate results that could endanger patients' health. “I sure as hell wished we treated her differently and listened to her, said Holmes of Cheung, who quit Theranos in exasperation after concluding her complaints were being ignored. Shultz, the grandson of former U.S. Secretary of State and Theranos board member George Shultz, also resigned from Theranos in 2015 under similar circumstances. Also read: NASA calls off ISS spacewalk citing threat from space junk,Both Cheung and Shultz became whistleblowers and provided information to Carreyrou for his Journal story. After discovering that Cheung and Shultz were talking to Carreyrou, Theranos attorney David Boies sent letters to both of them threatening to sue them. Holmes on Tuesday insisted she was trying to protect trade secrets. The tactics sullied Holmes' relationship with George Shultz, who initially backed her even after his grandson began sounding alarms about Theranos' technology. George Shultz, who died earlier this year, became fed up after Theranos sent over attorneys to pressure Tyler to sign non-disclosure documents at his house in May 2015, prompting him to call Holmes and complain that it was one of the worst things I have ever seen anyone do, according to Leach. Holmes told Leach she didn't recall precisely what George Shultz said during that conversation. “I remember George being angry, she said. Holmes could face prison time of up to 20 years if convicted.

{\"time\":1638323349998,\"strCount\":7333,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"One-time entrepreneur Elizabeth Holmes, under questioning by prosecutors, struggled Tuesday to recall key events that led to her facing criminal fraud charges for allegedly fleecing investors and customers of her failed blood-testing startup Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Her cross-examination began the day after she shared painfully vivid memories of alleged abuse by her ex-lover and business partner, Sunny Balwani.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In between bouts of hazy recollection, Holmes wept on the witness stand after the federal prosecutor interrogating her asked to read aloud some of the amorous texts that she and Balwani exchanged during a five-year period while they were running Theranos and living together in a stealth romantic relationship.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/us-cdc-tightens-omicron-surveillance-at-major-international-airports-254470/\\\">US CDC tightens Omicron surveillance at major international airports</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“U are God's tigress and warrior. You are extraordinary,\\\" Balwani cooed to Holmes in a 2015 documents displayed in court Tuesday. Holmes quickly responded with this text: “Coming from my tiger means the whole universe to me.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"While poring over the old texts, Holmes occasionally dabbed away tears and wiped her nose with a tissue. The jury watched and listened along with a packed courtroom that included one person who trained a pair of binoculars on Holmes from a back row.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The drama unfolded the day after Holmes cast herself as a victim of Balwani's abusive and controlling behavior while they were romantically involved from 2005 to 2016. Balwani, 56, also served as Theranos' chief operating officer from 2009 to 2016 while Holmes, 37, was the CEO and controlling shareholder.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/fda-panel-backs-mercks-covid-pill-in-a-close-vote-411658/\\\">FDA panel backs Merck's COVID pill in a close vote</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"As part of her testimony, Holmes said she was raped at Stanford — a traumatic experience that she asserted Balwani exploited to control everything from her diet to her friendships.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Both Holmes and Balwani are now fighting criminal charges of duping investors and patients into believing that Theranos has invented a device that could scan for hundreds of potential health problems with a few drops of blood. After raising nearly $1 billion, Theranos collapsed amid revelations that the purportedly revolutionary technology she was peddling was horribly flawed.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' trial, which began in early September, is now heading toward its climax. Holmes will return to the stand on Dec. 7. Her testimony could wrap up that day, raising the possibility that jury deliberations could begin by the end of next week.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/entertainment/anything-but-accurate-gucci-family-lashes-out-against-house-of-gucci-447567/\\\">Anything but accurate: Gucci family lashes out against 'House of Gucci'</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Balwani, who is being tried separately, is expected to face the court early next year. His attorney, Jeffrey Coopersmith, has denied Holmes' allegations of “intimate partner abuse.\\\" Coopersmith on Tuesday also told U.S. District Judge Edward Davila that Balwani would assert his Fifth Amendment right against self-incrimination if he were called to testify in Holmes' trial.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Although Holmes has been on the stand since Nov. 19, Tuesday marked the first opportunity for federal prosecutors to grill her under oath.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Robert Leach, the government lawyer confronting Holmes, didn't touch upon Holmes' alleged rape nor her testimony about Balwani berating her, sometimes in profane terms. Instead, he used roughly 12,000 texts sent between Holmes and Balwani to counter her contention that they had a relationship that was more toxic than romantic.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"At one point, Leach asked Holmes if she would be surprised if the word “love\\\" appeared 594 times in the texts obtained by the government and the word “loving\\\" was used 105 times. “No,\\\" Holmes said with a slight smile.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/texas-man-jailed-for-spending-covid-funds-on-luxury-items-493021/\\\">Texas man jailed for spending COVID funds on luxury items</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But Holmes spent much of Tuesday responding “I don't remember\\\" and “I don't know” to Leach's questions about key incidents in the startup's history. She claimed forgetfulness so frequently that Leach made the phrase “let’s see if I can refresh your memory\\\" a common refrain as he presented her with document after document related to the fraud charges.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Leach seemed intent on proving that Holmes she knew she was making false statements to investors and Walgreens, which briefly used Theranos' blood tests in its pharmacies.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' apparent forgetfulness contrasted sharply with her clear recall of her interactions with Balwani — some of them dating back more than a decade.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But she also seemed to have reflected on her behavior at Theranos. She expressed remorse for the way she responded to the concerns of two former employees and her attempts to stop the 2015 publication of a Wall Street Journal expose that helped lead to Theranos' collapse.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/omicron-scare-federal-reserve-announcement-contributes-to-stock-dip-587514/\\\">Omicron scare, Federal Reserve announcement contributes to stock dip</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“I could not say more strongly that the way we handled the Wall Street Journal process was a total disaster. We really messed up,\\\" Holmes said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"John Carreyrou, the reporter who wrote the Wall Street Journal story and a book about Theranos' rise and fall, sat in the back of the courtroom during Holmes' moment of contrition while taking notes for a podcast he has been doing about the trial.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes also acknowledged she was too quick to dismiss warnings from the two former employees, Erika Cheung and Tyler Shultz, who reported that Theranos' blood-testing device — dubbed Edison — was delivering inaccurate results that could endanger patients' health.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“I sure as hell wished we treated her differently and listened to her,\\\" said Holmes of Cheung, who quit Theranos in exasperation after concluding her complaints were being ignored.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Shultz, the grandson of former U.S. Secretary of State and Theranos board member George Shultz, also resigned from Theranos in 2015 under similar circumstances.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/nasa-calls-off-iss-spacewalk-citing-threat-from-space-junk-413586/\\\">NASA calls off ISS spacewalk citing threat from space junk</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Both Cheung and Shultz became whistleblowers and provided information to Carreyrou for his Journal story. After discovering that Cheung and Shultz were talking to Carreyrou, Theranos attorney David Boies sent letters to both of them threatening to sue them. Holmes on Tuesday insisted she was trying to protect trade secrets.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The tactics sullied Holmes' relationship with George Shultz, who initially backed her even after his grandson began sounding alarms about Theranos' technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"George Shultz, who died earlier this year, became fed up after Theranos sent over attorneys to pressure Tyler to sign non-disclosure documents at his house in May 2015, prompting him to call Holmes and complain that it was \\\"one of the worst things I have ever seen anyone do,\\\" according to Leach.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes told Leach she didn't recall precisely what George Shultz said during that conversation. “I remember George being angry,\\\" she said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes could face prison time of up to 20 years if convicted.\"}}]}

<ul>
 <li>While poring over the old texts, Holmes occasionally dabbed away tears and wiped her nose with a tissue</li>
 <li>Both Holmes and Balwani are now fighting criminal charges of duping investors and patients</li>
 <li>Holmes' trial, which began in early September, is now heading toward its climax</li>
</ul>

Elizabeth Holmes gets emotional under fire by prosecutors

Disgraced entrepreneur Elizabeth Holmes described herself as the abused puppet of her former lover and business partner Sunny Balwani in tearful testimony Monday, part of her attempt to refute accusations that she lied about a flawed blood-testing technology she had hailed as a major breakthrough. After recounting how she met Balwani while she was still in high school, Holmes said she eventually fell under his sway after she dropped out of Stanford University in 2003 to found Theranos, a Silicon Valley startup she led as CEO for the next 15 years. Also read: Supreme Court to begin hearing on sentencing of Vijay Mallya in contempt of court,A weeping Holmes, now 37, testified she was raped at Stanford — a factor she believes played a role in what she characterized as her later subservience to Balwani, now 56. The two became romantically involved in 2005 before Balwani became chief operating officer at Theranos, a position he held from 2009 to 2016. Even before joining Theranos, Balwani was regularly berating Holmes as an inept executive who needed to “kill her former self in an effort to become more disciplined and focused, according to her testimony and contemporaneous notes with strict instructions for Holmes handwritten by Balwani. Also read: Iran makes maximalist demands as Vienna nuclear talks open,“He felt like I came across as a little girl and thought I needed to be more serious and more pointed, Holmes explained as she read through Balwani's demands. They included spending at least 30 minutes each morning writing out her daily goals and never spending more than five minutes meeting with anyone unless she had written down a reason justifying the additional time. If she didn't do what Balwani said, Holmes said, he would yell and tell her he was “so disappointed in my mediocrity. At other times, Holmes said, Balwani would liken her to a “monkey flying a space ship and tried to cut her off from her family in an alleged effort to ensure that she devoted herself full-time to Theranos. She also said he controlled her diet in an attempt to keep her “pure. Sometimes after Balwani belittled her, Holmes testified, he would force her to have sex against her will to show he loved her. The dramatic turn came during the fourth day of Holmes’ testimony before a jury weighing fraud charges that include swindling investors and customers while putting patients at risk by telling elaborate lies about the company's development of an allegedly revolutionary blood-testing device. Holmes could face a prison sentence of up to 20 years if convicted. Also read: One in three parliamentary staffers have been sexually harassed: Report,The 14 jurors, including two alternates, listened attentively but with little visible emotion as Holmes described her relationship with Balwani. Balwani faces fraud allegations mirroring those against Holmes in another trial scheduled to begin early next year. He and Holmes ended their relationship in May 2016 after she moved out of the Silicon Valley home that they shared for years while keeping their romantic relationship concealed. Federal prosecutors wanted to try Balwani alongside Holmes, but U.S. District Judge Edward Davila separated the proceedings because of the possibility that Holmes would blame some of her behavior on“intimate partner abuse. Jeffrey Coopersmith, Balwani's lawyer, has vehemently denied Holmes' abuse allegations. Although Coopersmith was present for Holmes' testimony Monday, Balwani couldn't be there because he is prohibited from being in the courtroom in Holmes' presence. Holmes' portrait of Balwani stood in sharp contrast to other testimony indicating that he always deferred to Holmes — the subject of flattering business profiles likening her to a female version of Apple co-founder Steve Jobs, who she adopted as one of her role models. Holmes briefly became a paper billionaire while promising that Theranos could provide more convenient and cheaper tests scanning for hundreds of potential health problems using just a few drops of blood. Conventional tests typically require a vial of blood drawn from a vein. Her pitch helped Theranos raise nearly $1 billion from sophisticated investors and attract an impressive board of directors including former Cabinet secretaries from the administrations of presidents from Richard Nixon to Donald Trump. The company collapsed after a series of explosive articles in the Wall Street Journal and regulatory audits revealed rampant inaccuracies in Theranos’ blood tests. ,In her testimony, Holmes said most people didn't realize how much Balwani controlled her because most of his alleged abuse occurred outside the office. Her condemnation of Balwani contrasted with some of the treacly texts she sent addressing him as “tiger. During a flurry of texts in April 2016, about a month before her romance with Balwani ended, Holmes quoted the poet Maya Angelou. “In all the world, there is no heart for me like yours. In all the world there is no love for you like mine, Holmes told him. Under questioning by one of her attorneys, Holmes acknowledged that Balwani never told her what to say to the investors she is now accused of deceiving. She also testified that Balwani didn't influence her discussions with Walgreens and Safeway, two major retailers that agreed to use Theranos' blood-testing technology before backing out after discovering it wasn't performing as she promised. Holmes instead says she did everything she could to clean up the problems at Theranos in an effort to realize her ambitions. But she also said she couldn't explain all the different ways Balwani affected her during the years they were together. “He wasn't who I thought he was, Holmes said, adding that Balwani “impacted everything about who I was and I don't fully understand that. Holmes will return to the witness stand Tuesday when prosecutors will get their first chance to grill her under oath.

{\"time\":1638268885386,\"strCount\":6315,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Disgraced entrepreneur <a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Elizabeth Holmes</a> described herself as the abused puppet of her former lover and business partner Sunny Balwani in tearful testimony Monday, part of her attempt to refute accusations that she lied about a flawed blood-testing technology she had hailed as a major breakthrough.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"After recounting how she met Balwani while she was still in high school, Holmes said she eventually fell under his sway after she dropped out of Stanford University in 2003 to found Theranos, a Silicon Valley startup she led as CEO for the next 15 years.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/supreme-court-to-begin-hearing-on-sentencing-of-vijay-mallya-in-contempt-of-court-549719/\\\">Supreme Court to begin hearing on sentencing of Vijay Mallya in contempt of court</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"A weeping Holmes, now 37, testified she was raped at Stanford — a factor she believes played a role in what she characterized as her later subservience to Balwani, now 56. The two became romantically involved in 2005 before Balwani became chief operating officer at Theranos, a position he held from 2009 to 2016.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Even before joining Theranos, Balwani was regularly berating Holmes as an inept executive who needed to “kill\\\" her former self in an effort to become more disciplined and focused, according to her testimony and contemporaneous notes with strict instructions for Holmes handwritten by Balwani.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/iran-makes-maximalist-demands-as-vienna-nuclear-talks-open-346189/\\\">Iran makes maximalist demands as Vienna nuclear talks open</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“He felt like I came across as a little girl and thought I needed to be more serious and more pointed,\\\" Holmes explained as she read through Balwani's demands. They included spending at least 30 minutes each morning writing out her daily goals and never spending more than five minutes meeting with anyone unless she had written down a reason justifying the additional time.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"If she didn't do what Balwani said, Holmes said, he would yell and tell her he was “so disappointed in my mediocrity.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"At other times, Holmes said, Balwani would liken her to a “monkey flying a space ship\\\" and tried to cut her off from her family in an alleged effort to ensure that she devoted herself full-time to Theranos. She also said he controlled her diet in an attempt to keep her “pure.\\\" Sometimes after Balwani belittled her, Holmes testified, he would force her to have sex against her will to show he loved her.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The dramatic turn came during the fourth day of Holmes’ testimony before a jury weighing fraud charges that include swindling investors and customers while putting patients at risk by telling elaborate lies about the company's development of an allegedly revolutionary blood-testing device. Holmes could face a prison sentence of up to 20 years if convicted.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/world/one-in-three-parliamentary-staffers-have-been-sexually-harassed-report-173327/\\\">One in three parliamentary staffers have been sexually harassed: Report</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The 14 jurors, including two alternates, listened attentively but with little visible emotion as Holmes described her relationship with Balwani.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Balwani faces fraud allegations mirroring those against Holmes in another trial scheduled to begin early next year. He and Holmes ended their relationship in May 2016 after she moved out of the Silicon Valley home that they shared for years while keeping their romantic relationship concealed.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Federal prosecutors wanted to try Balwani alongside Holmes, but U.S. District Judge Edward Davila separated the proceedings because of the possibility that Holmes would blame some of her behavior on“intimate partner abuse.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Jeffrey Coopersmith, Balwani's lawyer, has vehemently denied Holmes' abuse allegations. Although Coopersmith was present for Holmes' testimony Monday, Balwani couldn't be there because he is prohibited from being in the courtroom in Holmes' presence.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' portrait of Balwani stood in sharp contrast to other testimony indicating that he always deferred to Holmes — the subject of flattering business profiles likening her to a female version of Apple co-founder Steve Jobs, who she adopted as one of her role models.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes briefly became a paper billionaire while promising that Theranos could provide more convenient and cheaper tests scanning for hundreds of potential health problems using just a few drops of blood. Conventional tests typically require a vial of blood drawn from a vein.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Her pitch helped Theranos raise nearly $1 billion from sophisticated investors and attract an impressive board of directors including former Cabinet secretaries from the administrations of presidents from Richard Nixon to Donald Trump. The company collapsed after a series of explosive articles in the Wall Street Journal and regulatory audits revealed rampant inaccuracies in Theranos’ blood tests.,\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In her testimony, Holmes said most people didn't realize how much Balwani controlled her because most of his alleged abuse occurred outside the office. Her condemnation of Balwani contrasted with some of the treacly texts she sent addressing him as “tiger.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"During a flurry of texts in April 2016, about a month before her romance with Balwani ended, Holmes quoted the poet Maya Angelou. “In all the world, there is no heart for me like yours. In all the world there is no love for you like mine,\\\" Holmes told him.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Under questioning by one of her attorneys, Holmes acknowledged that Balwani never told her what to say to the investors she is now accused of deceiving. She also testified that Balwani didn't influence her discussions with Walgreens and Safeway, two major retailers that agreed to use Theranos' blood-testing technology before backing out after discovering it wasn't performing as she promised.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes instead says she did everything she could to clean up the problems at Theranos in an effort to realize her ambitions. But she also said she couldn't explain all the different ways Balwani affected her during the years they were together.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“He wasn't who I thought he was,\\\" Holmes said, adding that Balwani “impacted everything about who I was and I don't fully understand that.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes will return to the witness stand Tuesday when prosecutors will get their first chance to grill her under oath.\"}}]}

Yash Bajaj

<ul>
 <li>Elizabeth Holmes described herself as the abused puppet in a tearful testimony</li>
 <li>Holmes said that she was raped at Stanford</li>
 <li>Holmes said, Balwani would liken her to a “monkey flying a space ship"</li>
</ul>

Elizabeth Holmes accuses ex-lover Sunny Balwani of rape

SexualAssualt

SexualHarassment

California

International

San Hose, CA, USA

Biotechnology entrepreneur Elizabeth Holmes, a former billionaire accused of engineering a massive medical scam, expressed some remorse while on the witness stand Tuesday, but denied trying to conceal that her company's blood-testing methods weren't working as she had promised. In her third day of testimony during the high-profile criminal trial, Holmes acknowledged making some mistakes as CEO of Theranos, a company she founded in 2003 when she was just 19. But she repeatedly emphasized that she made most of her decisions with the help of other executives and a respected board that included former cabinet members in various presidential administrations. Also read: Grammy Awards 2022: Snubs, surprises and shocks in the nominations,Holmes, now 37, also made it clear that she never stopped believing that Theranos would revolutionize health care with a technology that was supposed to be able to detect a wide range of diseases and other problems by testing just a few drops of blood, even when confronted with adversity. “It is never smooth, Holmes testified. “There's always challenges. Theranos eventually collapsed after a series of explosive articles in The Wall Street Journal and an audit by federal regulators exposed serious and potentially dangerous flaws in the company's blood tests. The scandal wiped out Holmes' fortune, which was estimated at $4.5 billion in 2014 when she was the subject of a glowing cover story on Fortune magazine. Also read: Planning a holiday after pandemic? Here's how travel has changed,Holmes addressed several prickly areas that government prosecutors highlighted while presenting their case during the first 10 weeks of the trial. But she and her lawyers still haven't touched a hot-button issue they have suggested as a key defense: Whether Holmes was being secretly manipulated by her former lover and Theranos' former chief operating officer, Sunny Balwani, into unethical behavior. In court documents unsealed shortly before the trial began in early September, Holmes' lawyers accused Balwani of subjecting Holmes to “intimate partner abuse. Balwani, who faces a separate fraud trial next year, has denied those allegations through his attorney. Balwani's role as an executive at Theranos came up Tuesday for the first time since Holmes took the stand late last week. At one point, Holmes indirectly criticized Balwani for a brusque 2013 email he sent scolding a former Theranos manager, Surekha Gangakhedkar, in the middle of the night. Gangakhedkar, who testified about expressing concerns about problems with Theranos' technology, eventually resigned, citing the stress she felt. Also read: Grammy Awards 2022 blurs genre lines, ushers in a retiree revolution,Holmes told the jury she regretted that episode with Gangahedkar. “This is the wrong way to treat people, she said. Balwani also drew up a series of financial projections that have been a focal point of the trial, according to Holmes. In documents distributed to prospective investors, Theranos forecast annual revenues of $140 million in 2014 and $990 million in 2015. Other evidence presented during the trial showed the company never came remotely close to hitting those targets. Holmes testified the 2015 revenue prediction was based largely on an anticipated expansion into 3,000 Walgreens stores that never materialized after the retailer backed out of its Theranos partnership. Also read: NASA's ExoMiner validates 301 new planets beyond solar system,Another moment of contrition came when she took responsibility for adding the logo of Pfizer, a major drug maker, to a report extolling the effectiveness of Theranos' technology. That decision came after an internal Pfizer report that Holmes said she never SAW? had expressed doubts about the reliability of Theranos' blood tests. “I wish I had done it differently, Holmes said. Several investors have testified that seeing Pfizer's logo on the report helped persuade them to invest in Theranos. Holmes, who raised nearly $1 billion after founding Theranos in 2003, is facing allegations of duping investors, patients and business partners while running the Palo Alto, California, company. If convicted, she could face a prison term of up to 20 years.

{\"time\":1637717269002,\"strCount\":4621,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Biotechnology entrepreneur Elizabeth Holmes, a former billionaire accused of engineering a massive medical scam, expressed some remorse while on the witness stand Tuesday, but denied trying to conceal that her company's blood-testing methods weren't working as she had promised.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In her third day of testimony during the high-profile criminal trial, Holmes acknowledged making some mistakes as CEO of Theranos, a company she founded in 2003 when she was just 19. But she repeatedly emphasized that she made most of her decisions with the help of other executives and a respected board that included former cabinet members in various presidential administrations.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/entertainment/grammy-awards-2022-snubs-surprises-and-shocks-in-the-nominations-158357/\\\">Grammy Awards 2022: Snubs, surprises and shocks in the nominations</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes, now 37, also made it clear that she never stopped believing that Theranos would revolutionize health care with a technology that was supposed to be able to detect a wide range of diseases and other problems by testing just a few drops of blood, even when confronted with adversity.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“It is never smooth,\\\" Holmes testified. “There's always challenges.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Theranos eventually collapsed after a series of explosive articles in The Wall Street Journal and an audit by federal regulators exposed serious and potentially dangerous flaws in the company's blood tests. The scandal wiped out Holmes' fortune, which was estimated at $4.5 billion in 2014 when she was the subject of a glowing cover story on Fortune magazine.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/lifestyle/how-to-be-a-5-star-traveler-this-holiday-season-491034/\\\">Planning a holiday after pandemic? Here's how travel has changed</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes addressed several prickly areas that government prosecutors highlighted while presenting their case during the first 10 weeks of the trial. But she and her lawyers still haven't touched a hot-button issue they have suggested as a key defense: Whether Holmes was being secretly manipulated by her former lover and Theranos' former chief operating officer, Sunny Balwani, into unethical behavior.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In court documents unsealed shortly before the trial began in early September, Holmes' lawyers accused Balwani of subjecting Holmes to “intimate partner abuse.\\\" Balwani, who faces a separate fraud trial next year, has denied those allegations through his attorney.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Balwani's role as an executive at Theranos came up Tuesday for the first time since Holmes took the stand late last week. At one point, Holmes indirectly criticized Balwani for a brusque 2013 email he sent scolding a former Theranos manager, Surekha Gangakhedkar, in the middle of the night. Gangakhedkar, who testified about expressing concerns about problems with Theranos' technology, eventually resigned, citing the stress she felt.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/entertainment/grammy-awards-2022-blurs-genre-lines-ushers-in-a-retiree-revolution-564821/\\\">Grammy Awards 2022 blurs genre lines, ushers in a retiree revolution</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes told the jury she regretted that episode with Gangahedkar. “This is the wrong way to treat people,\\\" she said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Balwani also drew up a series of financial projections that have been a focal point of the trial, according to Holmes. In documents distributed to prospective investors, Theranos forecast annual revenues of $140 million in 2014 and $990 million in 2015. Other evidence presented during the trial showed the company never came remotely close to hitting those targets.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes testified the 2015 revenue prediction was based largely on an anticipated expansion into 3,000 Walgreens stores that never materialized after the retailer backed out of its Theranos partnership.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/nasas-exominer-validates-301-new-planets-beyond-solar-system-338393/\\\">NASA's ExoMiner validates 301 new planets beyond solar system</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Another moment of contrition came when she took responsibility for adding the logo of Pfizer, a major drug maker, to a report extolling the effectiveness of Theranos' technology. That decision came after an internal Pfizer report that Holmes said she never SAW? had expressed doubts about the reliability of Theranos' blood tests.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“I wish I had done it differently,\\\" Holmes said. Several investors have testified that seeing Pfizer's logo on the report helped persuade them to invest in Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes, who raised nearly $1 billion after founding Theranos in 2003, is facing allegations of duping investors, patients and business partners while running the Palo Alto, California, company. If convicted, she could face a prison term of up to 20 years.\"}}]}

<ul>
 <li>Holmes acknowledged making some mistakes as CEO of Theranos</li>
 <li>The scandal wiped out Holmes' fortune, which was estimated at $4.5 billion in 2014</li>
 <li>Holmes told the jury she regretted that episode with Gangahedkar</li>
</ul>

Elizabeth Holmes expresses remorse in her criminal trial

Elizabeth Holmes, the one-time medical entrepreneur now charged with building a fraudulent company based on promises of a revolutionary technology, returned to the witness stand Monday. Her testimony, which focused largely on her enthusiasm based on positive early tests of that blood-testing technology, may be her best shot to avoid conviction on charges of criminal fraud. Prosecutors alleged she duped investors and patients into believing she had invented a breakthrough in blood-testing technology. Also Read | Elizabeth Holmes takes the stand in her criminal fraud trial,Monday's proceedings resumed after a roughly 90-minute delay, with Holmes again at the witness stand wearing a cobalt dress with a black blazer. She spent most of her time describing clinical studies and other records extolling the effectiveness of a small blood-testing device made by Theranos, a startup she founded in 2003 after dropping out of Stanford University at 19. U.S. District Judge Edward Davila didn't explain why he met with lawyers from both sides of the case behind closed doors while a masked — and befuddled — audience sat in a packed courtroom. Holmes' latest round of testimony came after her lawyers called her to the stand during the final hour of Friday's proceedings in what has been the most dramatic moment of a high-profile trial that began in early September. Anticipation of Holmes' return to the stand Monday drew a large crowd outside of the San Jose, California, courthouse where the trial is occurring, with the first person lining up around 1 a.m. PT. The roughly 35 people who got into the small courtroom Monday included one of Holmes' biggest foils — former Wall Street Journal reporter John Carreyrou, who wrote a seri es of explosive articles starting in October 2015 that triggered Theranos' collapse and the ensuing criminal case. Also Read | Why Theranos founder Elizabeth Holmes is facing trial,Responding to friendly questions posed by one of her attorneys gives Holmes gets a chance to sway the jurors who will determine her fate. If convicted, Holmes, a former billionaire who is now 37, could be sentenced to up to 20 years in prison. After being prompted by her attorney to explain some technical terms about blood testing, Holmes looked directly at the jury sitting a few feet to her right and delved into the topic as if she were a teacher addressing her students. Having shed the mask that she's worn while sitting stoically through trial, Holmes also occasionally smiled as she discussed the studies. She also tried to make eye contact with the 14 jurors, including two alternates, as they walked out during a morning break and later at the conclusion of the day's proceedings. The studies, conducted with several major pharmaceutical companies from 2008 to 2010, showed the third generation of a Theranos device known as the Edison was delivering mostly encouraging results that gave Holmes reason to believe she and the company were on the road to success. “Results have been excellent, one report said. Another concluded that the “results have been precise. Also Read | The rise and fall of Theranos founder Elizabeth Holmes,Another exchange between Holmes and her attorney, Kevin Downey, underscored the rote tone of Monday's testimony. Prompted by Downey, Holmes explained that she defined a success as something that “has successfully achieved the objective of a program. The positive reports and Holmes' testimony seemed primarily aimed at providing insight into Holmes' state of mind in an attempt to illuminate why she eventually became so effusive about Theranos technology, which she promised would be able to scan for hundreds of potential diseases and other health problems with just a few drops of blood taken with a finger prick. But by 2015, Theranos' own lab director concluded the company's technology was malfunctioning in ways that produced misleading results that could potentially endanger patients. Theranos wound up running the tests on traditional blood-testing machines while continuing to raise hundreds of millions of dollars billionaires and less sophisticated investors. Other evidence presented at the trial showed Holmes distributed misleading information in 2013 about a purported partnership with Pfizer and other pharmaceutical companies that helped Theranos raise money. Having spent only about three hours on the stand so far, Holmes' testimony is expected to eventually delve into more intriguing territory. Before the trial started, Holmes' lawyers filed documents indicating she intends to blame whatever misconduct that occurred at Theranos on her former lover and the company's former chief operating officer, Sunny Balwani. Those documents assert that Balwani, who faces a separate criminal trial next year, manipulated Holmes through “intimate partner abuse. Balwani's lawyer has blasted those allegations as baseless. Holmes' testimony will resume Tuesday morning and is expected to continue into next week.

{\"time\":1637627503677,\"strCount\":5675,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"<a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Elizabeth Holmes</a>, the one-time medical entrepreneur now <a href=\\\"https://opoyi.com/health/why-theranos-founder-elizabeth-holmes-is-facing-trial-497747/\\\">charged with building a fraudulent company</a> based on promises of a revolutionary technology, returned to the witness stand Monday.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Her testimony, which focused largely on her enthusiasm based on positive early tests of that blood-testing technology, may be her best shot to avoid conviction on charges of criminal fraud. Prosecutors alleged she duped investors and patients into believing she had invented a breakthrough in blood-testing technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/health/elizabeth-holmes-takes-the-stand-in-her-criminal-fraud-trial-145628/\\\">Elizabeth Holmes takes the stand in her criminal fraud trial</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Monday's proceedings resumed after a roughly 90-minute delay, with Holmes again at the witness stand wearing a cobalt dress with a black blazer. She spent most of her time describing clinical studies and other records extolling the effectiveness of a small blood-testing device made by Theranos, a startup she founded in 2003 after dropping out of Stanford University at 19.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"U.S. District Judge Edward Davila didn't explain why he met with lawyers from both sides of the case behind closed doors while a masked — and befuddled — audience sat in a packed courtroom.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' latest round of testimony came after her lawyers&nbsp;<a href=\\\"https://apnews.com/article/technology-entertainment-business-health-elizabeth-holmes-44cee918da13260ce05a745e10551578\\\">called her to the stand&nbsp;</a>during the final hour of Friday's proceedings in what has been the most dramatic moment of a high-profile trial that began in early September.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Anticipation of Holmes' return to the stand Monday drew a large crowd outside of the San Jose, California, courthouse where the trial is occurring, with the first person lining up around 1 a.m. PT. The roughly 35 people who got into the small courtroom Monday included one of Holmes' biggest foils — former Wall Street Journal reporter John Carreyrou, who wrote a seri&nbsp;<a href=\\\"https://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901\\\">es of explosive articles&nbsp;</a>starting in October 2015 that triggered Theranos' collapse and the ensuing criminal case.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/health/why-theranos-founder-elizabeth-holmes-is-facing-trial-497747/\\\">Why Theranos founder Elizabeth Holmes is facing trial</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Responding to friendly questions posed by one of her attorneys gives Holmes gets a chance to sway the jurors who will determine her fate. If convicted, Holmes, a former billionaire who is now 37, could be sentenced to up to 20 years in prison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"After being prompted by her attorney to explain some technical terms about blood testing, Holmes looked directly at the jury sitting a few feet to her right and delved into the topic as if she were a teacher addressing her students.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Having shed the mask that she's worn while sitting stoically through trial, Holmes also occasionally smiled as she discussed the studies. She also tried to make eye contact with the 14 jurors, including two alternates, as they walked out during a morning break and later at the conclusion of the day's proceedings.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The studies, conducted with several major pharmaceutical companies from 2008 to 2010, showed the third generation of a Theranos device known as the Edison was delivering mostly encouraging results that gave Holmes reason to believe she and the company were on the road to success.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“Results have been excellent,\\\" one report said. Another concluded that the “results have been precise.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">The rise and fall of Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Another exchange between Holmes and her attorney, Kevin Downey, underscored the rote tone of Monday's testimony. Prompted by Downey, Holmes explained that she defined a success as something that “has successfully achieved the objective of a program.\\\"\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The positive reports and Holmes' testimony seemed primarily aimed at providing insight into Holmes' state of mind in an attempt to illuminate why she eventually became so effusive about Theranos technology, which she promised would be able to scan for hundreds of potential diseases and other health problems with just a few drops of blood taken with a finger prick.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But by 2015, Theranos' own lab director concluded the company's technology was malfunctioning in ways that produced misleading results that could potentially endanger patients. Theranos wound up running the tests on traditional blood-testing machines while continuing to raise hundreds of millions of dollars billionaires and less sophisticated investors.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Other evidence presented at the trial showed Holmes distributed misleading information in 2013 about a purported partnership with Pfizer and other pharmaceutical companies that helped Theranos raise money.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Having spent only about three hours on the stand so far, Holmes' testimony is expected to eventually delve into more intriguing territory.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Before the trial started, Holmes' lawyers filed documents indicating she intends to blame whatever misconduct that occurred at Theranos on her former lover and the company's former chief operating officer, Sunny Balwani. Those documents assert that Balwani, who faces a separate criminal trial next year, manipulated Holmes through “intimate partner abuse.\\\" Balwani's lawyer has blasted those allegations as baseless.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes' testimony will resume Tuesday morning and is expected to continue into next week.\"}}]}

Sayantan Guha

<ul>
 <li>Elizabeth Holmes is charged with building a fraudulent company</li>
 <li>Holmes' testimony focused on positive early tests of the blood-testing technology</li>
 <li>She spent most of her time describing clinical studies on Monday</li>
</ul>

Elizabeth Holmes returns to witness stand, makes her case in fraud trial

Crime

Fallen Silicon Valley star Elizabeth Holmes, accused of bamboozling investors and patients into believing that her startup Theranos had developed a blood-testing device that would reshape health care, took the witness stand Friday in her trial for criminal fraud. The surprise decision to have Holmes testify so early came as a bombshell and carries considerable risk. Federal prosecutors, who rested their months-long case earlier on Friday, have made it clear that they're eager to grill Holmes under oath. Prosecutors won't get that chance until Monday at the earliest, when the trial resumes. Prosecutors called 29 witnesses to support their contention that Holmes endangered patients' lives while also duping investors and customers about Theranos’ technology. Among them was Gen. James Mattis, a former U.S. defense secretary and former Theranos board member. ,They also presented internal documents and sometimes salacious texts between Holmes and her former lover, Sunny Bulwani, who also served as Theranos’ chief operating officer. Through the prosecution's case, Holmes sat bolt upright in her chair, impassive even when one-time supporters testified to their misgivings about Theranos. Also Read | The rise and fall of Theranos founder Elizabeth Holmes,That combination of compelling testimony and documentary evidence apparently proved effective at convincing Holmes to tell her side of the story in court. Listening Friday were 10 men and four women on the jury that will ultimately decide her fate. If convicted, Holmes -- now 37 and mother to a recently born son -- could be sentenced to up to 20 years in prison. Shortly after 3 p.m. Holmes walked slowly to the stand before a rapt courtroom filled with spectators and jurors, all wearing masks. She began her nearly hour-long testimony by recounting her early years as a student at Stanford University and her interest in disease detection, culminating in her decision to drop out of school at 19 and found the startup later known as Theranos. As the company took shape, so did its vision. Ultimately Theranos developed a device it called the Edison that could allegedly scan for hundreds of health problems with a few drops of blood. Existing tests generally each require a vial of blood, making it both slow and impractical to run more than a handful of patient tests at a time. Had it worked as promised, the Edison could have revolutionized health care by making it easier and cheaper to scan for early signs of disease and other health issues. Instead, jurors heard recordings of Holmes boasting to investors about purported breakthroughs that later proved to be untrue. ,Witness testimony and other evidence presented in the trial strongly suggests that Holmes misrepresented purported deals with major pharmaceutical firms such as Pfizer and the U.S. military while also concealing recurring problems with the Edison. But the Edison problems didn't become public knowledge until The Wall Street Journal published the first in a series of explosive articles in October 2015. An audit by the Centers for Medicare and Medicaid Services confirmed those problems the following year. By then, Holmes and Balwani had raised hundreds of millions of dollars from billionaire investors such as media mogul Rupert Murdoch and the Walton family of Walmart and struck deals with Walgreens and Safeway to conduct blood tests in their pharmacies. Those investments at one point valued Theranos at $9 billion, giving Holmes a $4.5 billion fortune — on paper — in 2014. ,Also Read | Jury system works, have to abide by it: Joe Biden reacts to Kyle Rittenhouse verdict,Evidence presented at the trial also revealed that Holmes had distributed financial projections calling for privately held Theranos to generate $140 million in revenue in 2014 and $990 million in revenue in 2015 while also turning a profit. A copy of Theranos' 2015 tax return presented as part of the trial evidence showed the company had revenues of less than $500,000 that year while reporting accumulated losses of $585 million. Ellen Kreitzberg, a Santa Clara University law professor who has been attending the trial, said she thought the government had made a strong case. “There’s nothing sort of fancy or sexy about this testimony, she said. “The witnesses were very careful in their testimony. None of the witnesses seemed to harbor anger or a grudge against her. And so because of that, they were very powerful witnesses.” ,Other witnesses called by the government included former two Theranos lab directors who repeatedly warned Holmes that the blood-testing technology was wildly unreliable. Prosecutors also questioned two part-time lab directors, including Balwani's dermatologist, who spent only a few hours scrutinizing Theranos' blood-testing technology during late 2014 and most of 2015. As Holmes' lawyers noted, the part-time lab directors were allowed under government regulations. Other key witnesses included former employees of Pfizer, former Safeway CEO Steve Burd and a litany of Theranos investors, including a representative for the family investment firm of Betsy DeVos, the former education secretary under President Donald Trump. The DeVos family wound up investing $100 million.

{\"time\":1637373556273,\"strCount\":5882,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Fallen Silicon Valley star <a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Elizabeth Holmes</a>, accused of bamboozling investors and patients into believing that her startup <a href=\\\"https://opoyi.com/topics/theranos/\\\">Theranos</a> had developed a blood-testing device that would reshape health care, took the witness stand Friday in her <a href=\\\"https://opoyi.com/topics/trial/\\\">trial</a> for criminal fraud.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The surprise decision to have <a href=\\\"https://opoyi.com/health/why-theranos-founder-elizabeth-holmes-is-facing-trial-497747/\\\">Holmes testify</a> so early came as a bombshell and carries considerable risk. Federal prosecutors, who rested their months-long case earlier on Friday, have made it clear that they're eager to grill Holmes under oath.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Prosecutors won't get that chance until Monday at the earliest, when the trial resumes. Prosecutors called 29 witnesses to support their contention that Holmes endangered patients' lives while also duping investors and customers about Theranos’ technology. Among them was Gen. James Mattis, a former <a href=\\\"https://opoyi.com/topics/unitedstates/\\\">U.S.</a> defense secretary and former Theranos board member.&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"They also presented internal documents and sometimes salacious texts between Holmes and her former lover, Sunny Bulwani, who also served as Theranos’ chief operating officer. Through the prosecution's case, Holmes sat bolt upright in her chair, impassive even when one-time supporters testified to their misgivings about Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">The rise and fall of Theranos founder Elizabeth Holmes</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"That combination of compelling testimony and documentary evidence apparently proved effective at convincing Holmes to tell her side of the story in court. Listening Friday were 10 men and four women on the jury that will ultimately decide her fate. If convicted, Holmes -- now 37 and mother to a recently born son -- could be sentenced to up to 20 years in prison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Shortly after 3 p.m., Holmes walked slowly to the stand before a rapt courtroom filled with spectators and jurors, all wearing masks. She began her nearly hour-long testimony by recounting her early years as a student at Stanford University and her interest in disease detection, culminating in her decision to drop out of school at 19 and found the startup later known as Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"As the company took shape, so did its vision. Ultimately Theranos developed a device it called the Edison that could allegedly scan for hundreds of health problems with a few drops of blood. Existing tests generally each require a vial of blood, making it both slow and impractical to run more than a handful of patient tests at a time.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Had it worked as promised, the Edison could have revolutionized health care by making it easier and cheaper to scan for early signs of disease and other health issues. Instead, jurors heard&nbsp;recordings of Holmes boasting to investors&nbsp;about purported breakthroughs that later proved to be untrue.&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Witness testimony and other evidence presented in the trial strongly suggests that Holmes misrepresented purported deals with major pharmaceutical firms such as Pfizer and the U.S. military while also concealing recurring problems with the Edison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But the Edison problems didn't become public knowledge until The Wall Street Journal published the first in a&nbsp;series of explosive articles&nbsp;in October 2015. An audit by the Centers for Medicare and Medicaid Services confirmed those problems the following year.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"By then, Holmes and Balwani had raised hundreds of millions of dollars from billionaire investors such as media mogul Rupert Murdoch and the Walton family of Walmart and struck deals with Walgreens and Safeway to conduct blood tests in their pharmacies. Those investments at one point valued Theranos at $9 billion, giving Holmes a $4.5 billion fortune — on paper — in 2014.&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/usa/jury-system-works-have-to-abide-by-it-joe-biden-reacts-to-kyle-rittenhouse-verdict-575089/\\\">Jury system works, have to abide by it: Joe Biden reacts to Kyle Rittenhouse verdict</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Evidence presented at the trial also revealed that Holmes had distributed financial projections calling for privately held Theranos to generate $140 million in revenue in 2014 and $990 million in revenue in 2015 while also turning a profit. A copy of Theranos' 2015 tax return presented as part of the trial evidence showed the company had revenues of less than $500,000 that year while reporting accumulated losses of $585 million.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Ellen Kreitzberg, a Santa Clara University law professor who has been attending the trial, said she thought the government had made a strong case.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“There’s nothing sort of fancy or sexy about this testimony,\\\" she said. “The witnesses were very careful in their testimony. None of the witnesses seemed to harbor anger or a grudge against her. And so because of that, they were very powerful witnesses.”&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Other witnesses called by the government included former two Theranos lab directors who repeatedly warned Holmes that the blood-testing technology was wildly unreliable. Prosecutors also questioned two part-time lab directors, including Balwani's dermatologist, who spent only a few hours scrutinizing Theranos' blood-testing technology during late 2014 and most of 2015. As Holmes' lawyers noted, the part-time lab directors were allowed under government regulations.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Other key witnesses included former employees of <a href=\\\"https://opoyi.com/topics/Pfizer/\\\">Pfizer</a>, former Safeway CEO Steve Burd and a litany of Theranos investors, including a representative for the family investment firm of Betsy DeVos, the former education secretary under President <a href=\\\"https://opoyi.com/topics/donaldtrump/\\\">Donald Trump</a>. The DeVos family wound up investing $100 million.\"}}]}

<ul>
 <li>Holmes took the witness stand Friday in her trial for criminal fraud</li>
 <li>Prosecutors called 29 witnesses to support their contention that Holmes endangered patients' lives</li>
 <li>Among them was Gen James Mattis, a former US defense secretary and former Theranos board member</li>
</ul>

Elizabeth Holmes takes the stand in her criminal fraud trial

A jury weighing the fate of fallen Silicon Valley star Elizabeth Holmes got its first chance Friday to listen to recordings of her boasting to investors about purported breakthroughs in a blood-testing technology. The technology heralded as a quantum leap in blood testing, however, later dissolved into a scandal that now threatens to send her to prison. The drama unfolded in a San Jose, California, courtroom with federal prosecutors playing a series of recordings from a December 2013 conference call that Holmes held with investors in Theranos, the company she started in 2003 after dropping out of college at 19 in hopes of becoming a revered visionary in the mold of Apple co-founder Steve Jobs. The audio clips of Holmes capped the sixth week of a high-profile trial revolving around allegations that Holmes duped sophisticated investors and major retailers with bogus promises about a Theranos device dubbed Edison. The company's machine was supposed to be able to quickly scan for hundreds of potential health problems with a few drops of blood taken with a finger prick. In the recordings, Holmes — speaking in a husky voice that some critics said she adopted to sound more authoritative — boasted about partnerships with big pharmaceutical companies such as Pfizer that evidence in the trial has revealed didn't pan out. She also mentioned contracts that never materialized because Theranos couldn't get the Edison to work properly. The device's repeated failures disillusioned former U.S. Defense Secretary James Mattis, a former Theranos board member ally who testified earlier in the trial. “We could establish what has the opportunity to be the largest lab in the country,” Holmes told investors in one of the clips played Friday. She laid out that ambition just a few months after Theranos had struck a deal to set up blood-testing “wellness centers in Walgreens stores across the country. But Theranos wound up in only 40 Walgreens stores. After investing $140 million in Theranos, Walgreens wound up ending the Theranos alliance in 2016, not long after a series of explosive articles in The Wall Street Journal and regulatory audits exposed chronic flaws in the blood-testing technology. Before everything blew up, Holmes raised hundreds of millions of dollars from a list of investors that included billionaires such as media mogul Rupert Murdoch, the Walton family behind Walmart, and Oracle co-founder Larry Ellison. The clips played Friday were recorded by Bryan Tolbert, an adviser to Dallas real estate developer Carl Hall, who invested $7 million in Theranos. The flurry of investments at one point valued privately held Theranos at $9 billion, including a $4.5 billion stake owned by Holmes. Now she is facing up to 20 years in prison if she is convicted in a trial that is scheduled to continue until late this year. As she has done throughout the trial, Holmes on Friday sat stoically alongside her lawyers while her voice filled the courtroom. She has yet to have a reason to speak during the trial, though her attorneys have signaled she make eventually take the witness stand to defend her actions as Theranos' CEO. Holmes, 37, has denied any wrongdoing, and blamed any misconduct on her former boyfriend, Ramesh “Sunny Bulwani, who was Theranos' chief operating officer. In court documents, Holmes' lawyers have asserted she was manipulated by Bulwani, a charge his lawyer has vehemently denied. Bulwani faces a separate trial next year. The jury that listened raptly to the recordings of Holmes was whittled down Friday when U.S. District Judge Edward Davila dismissed one member for an undisclosed reason. Originally composed of 17 people, including five alternates, the jury is now down to 10 men and four women.

{\"time\":1634960407702,\"strCount\":4360,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"A jury weighing the fate of fallen Silicon Valley star <a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Elizabeth Holmes</a> got its first chance Friday to listen to recordings of her boasting to investors about purported breakthroughs in a blood-testing technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The technology heralded as a quantum leap in <a href=\\\"https://opoyi.com/health/why-theranos-founder-elizabeth-holmes-is-facing-trial-497747/\\\">blood testing</a>, however, later dissolved into a scandal that now threatens to send her to prison.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The drama unfolded in a San Jose, <a href=\\\"https://opoyi.com/topics/California/\\\">California</a>, courtroom with federal prosecutors playing a series of recordings from a December 2013 conference call that Holmes held with investors in Theranos, the company she started in 2003 after dropping out of college at 19 in hopes of becoming a revered visionary in the mold of <a href=\\\"https://opoyi.com/topics/Apple/\\\">Apple co-founder Steve Jobs</a>.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The audio clips of Holmes capped the sixth week of a&nbsp;high-profile trial&nbsp;revolving around allegations that Holmes duped sophisticated investors and major retailers with bogus promises about a <a href=\\\"https://opoyi.com/usa/the-rise-and-fall-of-theranos-founder-elizabeth-holmes-579434/\\\">Theranos device dubbed Edison</a>. The company's machine was supposed to be able to quickly scan for hundreds of potential health problems with a few drops of blood taken with a finger prick.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In the recordings, Holmes — speaking in a husky voice that some critics said she adopted to sound more authoritative — boasted about partnerships with big pharmaceutical companies such as <a href=\\\"https://opoyi.com/topics/Pfizer/\\\">Pfizer</a> that evidence in the trial has revealed didn't pan out. She also mentioned contracts that never materialized because Theranos couldn't get the Edison to work properly. The device's repeated failures disillusioned former <a href=\\\"https://opoyi.com/topics/UnitedStates/\\\">U.S. Defense Secretary</a> James Mattis, a former Theranos board member ally&nbsp;who testified&nbsp;earlier in the trial.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"“We could establish what has the opportunity to be the largest lab in the country,” Holmes told investors in one of the clips played Friday. She laid out that ambition just a few months after Theranos had struck a deal to set up blood-testing “wellness centers\\\" in Walgreens stores across the country.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"But Theranos wound up in only 40 Walgreens stores. After <a href=\\\"https://opoyi.com/usa/theranos-founder-elizabeth-holmes-pregnancy-likely-to-delay-her-federal-trial-488061/\\\">investing $140 million in Theranos</a>, Walgreens wound up ending the Theranos alliance in 2016, not long after&nbsp;a series of explosive articles in The Wall Street Journal&nbsp;and regulatory audits exposed chronic flaws in the blood-testing technology.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Before everything blew up, Holmes raised hundreds of millions of dollars from a list of investors that included billionaires such as media mogul Rupert Murdoch, the Walton family behind Walmart, and Oracle co-founder Larry Ellison. The clips played Friday were recorded by Bryan Tolbert, an adviser to Dallas real estate developer Carl Hall, who invested $7 million in Theranos.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The flurry of investments at one point valued privately held Theranos at $9 billion, including a $4.5 billion stake owned by Holmes. Now she is facing up to 20 years in prison if she is convicted in a trial that is scheduled to continue until late this year.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"As she has done throughout the trial, Holmes on Friday sat stoically alongside her lawyers while her voice filled the courtroom. She has yet to have a reason to speak during the trial, though her attorneys have signaled she make eventually take the witness stand to defend her actions as <a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Theranos' CEO</a>.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes, 37, has denied any wrongdoing, and blamed any misconduct on her former boyfriend, Ramesh “Sunny\\\" Bulwani, who was Theranos' chief operating officer. In court documents, Holmes' lawyers have asserted she was manipulated by Bulwani, a charge his lawyer has vehemently denied. Bulwani faces a separate trial next year.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The jury that listened raptly to the recordings of Holmes was whittled down Friday when U.S. District Judge Edward Davila dismissed one member for an undisclosed reason. Originally composed of 17 people, including five alternates, the jury is now down to 10 men and four women.\"}}]}

Joy Tirkey

<ul>
 <li>Elizabeth Holmes' Theranos started in 2003</li>
 <li>Holmes raised hundreds of millions of dollars from a list of investors</li>
 <li>Originally composed of 17 people, the jury is now down to 10 men and four women</li>
</ul>

Jury gets chance to hear Theranos founder Elizabeth Holmes' bold promises

Elizabeth Holmes was on top of the world as a 30-year-old in 2014 as her biotech startup Theranos claimed to have developed technology touted to revolutionise healthcare. The company, with a peak valuation of $9 billion, claimed its Edison machine could diagnose conditions such as cancer and diabetes in quick time with just a drop of blood – eliminating the need for needles and tedious lab testing procedures. ,She soon became “the world’s youngest self-made billionaire” as she was hailed by Forbes magazine, while another business magazine Inc called her the “next Steve Jobs”. ,Then why is she on trial?,Holmes, a dropout form Stanford University, claimed the machine could perform life-saving tests cheaply and practically anywhere, saving time and money for both patients and doctors as it needed just a drop of blood from a finger prick and could function in locations such as the next-door grocery store. It claimed Edison could diagnose over 200 conditions. ,She was known for her fascination of Apple’s iconic founder Steve Jobs, styling her look after him as she was known for wearing the signature turtleneck and referring to Edison as the “iPod of healthcare”. ,She even used a marketing strategy similar to Apple’s. ,Her story drew investors to the project, including Oracle co-founder Ellison, Walmart founders the Walton family, media tycoon Rupert Murdoch and former US Secretary of Education Betsy DeVos. ,Also Read | Michigan couple ordered to pay $45,000 for throwing son's porn collection,However, by 2015, the company was exposed as a Wall Street Journal story – based on whistle blowers and data – showed that technology worked inconsistently, if at all, and that the reports it produced were secretly based on lab-based procedures, according to Al Jazeera. ,By 2018, the company had collapsed with Holmes, now 37, facing up to 20 years in prison and a nearly $3 million fine. Also facing the same fraud charges are former Theranos president and CEO Ramesh ‘Sunny’ Balwani, who was once in a relationship with Holmes. Also Read | GOP launch ballot drive to bypass governor on Michigan election laws,Both face two counts of conspiracy to commit wire fraud, nine counts of wire fraud for allegedly engaging “in a multi-million-dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients”. ,They are also accused of using a “a combination of direct communications, marketing materials, statements to the media, financial statements, models, and other information to defraud potential investors,” according to the indictment. ,They are being tried separately, with Balwani’s trial scheduled for January next year, while the jury selection in Holmes’ trial is set to begin on Tuesday.

{\"time\":1630409663815,\"strCount\":3649,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"<a href=\\\"https://opoyi.com/topics/elizabethholmes/\\\">Elizabeth\\nHolmes</a> was on top of the world as a 30-year-old in 2014 as her biotech startup\\n<a href=\\\"https://opoyi.com/topics/theranos/\\\">Theranos</a> claimed to have developed technology touted to revolutionise <a href=\\\"https://opoyi.com/topics/healthcare/\\\">healthcare</a>.\\nThe company, with a peak valuation of $9 billion, claimed its Edison machine\\ncould diagnose conditions such as <a href=\\\"https://opoyi.com/topics/cancer/\\\">cancer</a> and <a href=\\\"https://opoyi.com/topics/diabetes/\\\">diabetes</a> in quick time with just a\\ndrop of blood – eliminating the need for needles and tedious lab testing\\nprocedures. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"She soon\\nbecame “the world’s youngest self-made billionaire” as she was hailed by Forbes\\nmagazine, while another business magazine Inc called her the “next <a href=\\\"https://opoyi.com/topics/stevejobs/\\\">Steve Jobs</a>”.\\n\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Then why is she on trial?\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes, a dropout\\nform Stanford University, claimed the machine could perform life-saving tests\\ncheaply and practically anywhere, saving time and money for both patients and\\ndoctors as it needed just a drop of blood from a finger prick and could function\\nin locations such as the next-door grocery store. It claimed Edison could\\ndiagnose over 200 conditions. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"She was\\nknown for her fascination of <a href=\\\"https://opoyi.com/topics/apple/\\\">Apple</a>’s iconic founder Steve Jobs, styling her\\nlook after him as she was known for wearing the signature turtleneck and\\nreferring to Edison as the “iPod of healthcare”. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"She even used\\na marketing strategy similar to Apple’s. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Her story drew\\ninvestors to the project, including Oracle co-founder Ellison, Walmart founders\\nthe Walton family, media tycoon Rupert Murdoch and former US Secretary of\\nEducation Betsy DeVos. &nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/michigan-couple-ordered-to-pay-45000-for-throwing-sons-porn-collection?utm_source=copy-share&amp;utm_medium=web&amp;utm_campaign=none\\\">Michigan couple ordered to pay $45,000 for throwing son's porn collection</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"However, by\\n2015, the company was exposed as a Wall Street Journal story – based on whistle\\nblowers and data – showed that technology worked inconsistently, if at all, and\\nthat the reports it produced were secretly based on lab-based procedures,\\naccording to Al Jazeera. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"By 2018,\\nthe company had collapsed with Holmes, now 37, facing up to 20 years in prison\\nand a nearly $3 million fine. Also facing the same <a href=\\\"https://opoyi.com/search/all/Fraud\\\">fraud</a> charges are former\\nTheranos president and CEO Ramesh ‘Sunny’ Balwani, who was once in a relationship\\nwith Holmes.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/gop-launch-ballot-drive-to-bypass-governor-on-michigan-election-laws?utm_source=copy-share&amp;utm_medium=web&amp;utm_campaign=none\\\">GOP launch ballot drive to bypass governor on Michigan election laws</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Both face two\\ncounts of conspiracy to commit wire fraud, nine counts of wire fraud for allegedly\\nengaging “in a multi-million-dollar scheme to defraud investors, and a separate\\nscheme to defraud doctors and patients”. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"They are\\nalso accused of using a “a combination of direct communications, marketing\\nmaterials, statements to the media, financial statements, models, and other\\ninformation to defraud potential investors,” according to the indictment. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"They are\\nbeing tried separately, with Balwani’s trial scheduled for January next year,\\nwhile the jury selection in Holmes’ <a href=\\\"https://opoyi.com/theranos-founder-elizabeth-holmes-trial-to-begin-with-jury-selection?utm_source=copy-share&amp;utm_medium=web&amp;utm_campaign=none\\\">trial is set to begin on Tuesday</a>. \"}}]}

<ul>
 <li>Elizabeth Holmes' company Theranos claimed to have revolutionised healthcare</li>
 <li>It claimed its machine Edison could diagnose up to 200 conditions with just a drop of blood</li>
 <li>By 2018, the company had collapsed with Holmes facing up to 20 years in prison and a nearly $3 million fine</li>
</ul>

Why Theranos founder Elizabeth Holmes is facing trial

Ayushi Goswami

Elizabeth Holmes, the founder of the biotech company Theranos that purported to have revolutionised blood testing in 2014, is pregnant. This can once again delay her highly-anticipated criminal fraud trial, reported CNN.,Holmes was charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud in June 2018. The indictment alleged she engaged in a multi-million dollar scheme to cheat investors, and another scheme to deceive doctors and patients.&nbsp;Theranos' former COO and president Ramesh "Sunny" Balwani is also accused of the same frauds. The duo could be sentenced to up to 20 years in jail.&nbsp;,Also read:&nbsp;<a href="https://opoyi.com/george-floyds-family-settles-for-27-million-with-city-of-minneapolis">George Floyd's family settles for $27 million with city of Minneapolis</a>,According to a filing made on Friday with the US District Court for the Northern District of California, Holmes' counsel informed that she is pregnant with a due date of July 2021.,The filing suggested August 31, 2021, as the date to begin Holmes' trial. Her&nbsp;trial was initially scheduled to begin on&nbsp;July 28 last year. It was then delayed due to the coronavirus pandemic and postponed to October 27, 2020.&nbsp;,Also read:&nbsp;<a href="https://opoyi.com/one-thing-to-pass-american-rescue-plan-another-thing-to-implement-says-joe-biden">'One thing to pass American Rescue Plan, another thing to implement,' says Joe Biden</a>,Holmes became the world's&nbsp;youngest female self-made billionaire in 2014 after her company was valued at $9 billion.&nbsp;That ended journalist John Carreyrou's work at The Wall Street Journal led to an investigation by the US Securities and Exchange Commission (SEC).,Balwani's trial will begin in January next year.

{\"time\":1615615916904,\"strCount\":1794,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Elizabeth Holmes, the founder of the biotech company Theranos that purported to have revolutionised blood testing in 2014, is pregnant. This can once again delay her highly-anticipated criminal fraud trial, reported CNN.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes was charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud in June 2018. The indictment alleged she engaged in a multi-million dollar scheme to cheat investors, and another scheme to deceive doctors and patients.&nbsp;Theranos' former COO and president Ramesh \\\"Sunny\\\" Balwani is also accused of the same frauds. The duo could be sentenced to up to 20 years in jail.&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/george-floyds-family-settles-for-27-million-with-city-of-minneapolis-378672/\\\">George Floyd's family settles for $27 million with city of Minneapolis</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"According to a filing made on Friday with the US District Court for the Northern District of California, Holmes' counsel informed that she is pregnant with a due date of July 2021.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The filing suggested August 31, 2021, as the date to begin Holmes' trial. Her&nbsp;trial was initially scheduled to begin on&nbsp;July 28 last year. It was then delayed due to the coronavirus pandemic and postponed to October 27, 2020.&nbsp;\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/usa/one-thing-to-pass-american-rescue-plan-another-thing-to-implement-says-joe-biden-661228/\\\">'One thing to pass American Rescue Plan, another thing to implement,' says Joe Biden</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Holmes became the world's&nbsp;youngest female self-made billionaire in 2014 after her company was valued at $9 billion.&nbsp;That ended journalist John Carreyrou's work at The Wall Street Journal led to an investigation by the US Securities and Exchange Commission (SEC).\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Balwani's trial will begin in January next year.\"}}]}

<ul>
 <li>Elizabeth Holmes, founder of the biotech company Theranos, is pregnant</li>
 <li>Her company purported to have revolutionised blood testing in 2014</li>
 <li>Her federal trial was initially scheduled to begin on&nbsp;July 28 last year</li>
</ul>

#ElizabethHolmes