In 2017, federal prosecutors indicted Holmes and Ramesh "Sunny" Balwani, the No. In 2014, the company was estimated to be worth $9 billion, more than the value of Uber and Spotify at the time.īut not long after, regulators and the media began asking probing questions about the efficacy of the technology, setting the company's demise in motion. "I wish I'd done it differently," said Holmes, speaking behind a plexiglass-enclosed witness box in a calm and confident tone.įor years, Holmes claimed Theranos had developed breakthrough blood-testing technology that would empower people to have more control over their health by allowing them to test for hundreds of conditions with a tiny finger prick of blood. Holmes said she hadn't intended to deceive anyone but was merely attempting to acknowledge other work Theranos had done with the pharma companies. Prosecutors have said Holmes forged multiple reports to give the impression that the pharmaceutical companies were endorsing Theranos devices, when in reality they had distanced themselves from the startup. The former CEO of the blood-testing company Theranos is attempting to persuade the jury that she is innocent of 11 counts of fraud and conspiracy to commit fraud. It was the most damning admission Holmes has made under oath in three days of testifying in her own defense.
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#Elizabeth holmes today show trial#
Holmes is accused of duping elite financial backers, customers and patients into believing that her startup was about to revolutionize medicine.Įlizabeth Holmes told the jury in her criminal fraud trial on Tuesday that she personally put the letterhead of pharma giants Pfizer and Schering-Plough on documents sent to potential business partners and investors without the companies' consent. Elizabeth Holmes walks into federal court in San Jose, Calif., on Monday.