Business Holmes to take stand for third day in Theranos fraud trial

Holmes to take stand for third day in Theranos fraud trial

Holmes to take stand for third day in Theranos fraud trial



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World1 hour previously (Nov 23, 2021 08: 35AM ET)


© Reuters. Theranos founder Elizabeth Holmes leaves after attending her fraud trial at federal court docket in San Jose, California, U.S. November 22, 2021. REUTERS/Brittany Hosea-Minute

By Jody Godoy

SAN JOSE, Calif. (Reuters) – Theranos founder Elizabeth Holmes is expected to consume the stand for a third day on Tuesday in her trial on fraud costs tied to her startup that after promised to revolutionize blood making an are trying out.

The plump trial day is scheduled to be the longest stretch of testimony to this point for Holmes, 37, who has spent round two-and-a-half of hours on the stand discussing Theranos’ abilities and its certain performances in early study.

She stands accused of lying about Theranos, which had touted abilities that would perchance perchance well also jog diagnostic exams sooner and more accurately than frail lab making an are trying out with a drop of blood from a finger prick.

As soon as valued at $9 billion, Theranos collapsed after the Wall Avenue Journal revealed a series of articles starting in 2015 that urged its gadgets were incorrect and incorrect.

Holmes’ decision to testify is dangerous because it exposes her to a potentially tough corrupt-examination by prosecutors.

The trial has shone a spotlight on Silicon Valley originate-ups, which ceaselessly attract high valuations in accordance to guarantees of future success rather then loyal income and profit streams.

Holmes’ attorneys comprise tried to painting her as a younger entrepreneur who underestimated Theranos’ obstacles.

Over the two-month trial, jurors comprise heard testimony from greater than two dozen prosecution witnesses, including sufferers and merchants whom prosecutors train Holmes deceived.

Holmes has pleaded now not responsible to nine wire fraud counts and two conspiracy counts.

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