Once hailed as a billionaire on paper, the Theranos founder now faces up to 20 years if convicted of the felony charges.
as her trial got underway Wednesday, alternatively describing her as a greedy villain who faked her way to the top and as a passionate underdog whose spent years trying to shake up the health care industry.
After the jury was seated and U.S. District Judge Edward Davila gave his preliminary instructions, federal prosecutor Robert Leach wasted little time vilifying Holmes. Some of the most damning evidence may be presented by a former top finance officer at Theranos who will testify that the company only had $650,000 in revenue from 2011 through 2014, according to Leach. Yet Holmes was telling investors and other people that Theranos would generate $140 million in revenue in 2014, Leach said.
Holmes’ defense team countered with a more heroic narrative describing her as a tireless worker who poured more than 15 years of her life in pursuit of a faster, cheaper and less invasive way to test blood samples and screen for disease.
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Elizabeth Holmes drawn as villain, underdog as trial beginsSAN JOSE, Calif. (AP) — Prosecutors and defense attorneys sketched dueling portaits of fallen Silicon Valley star Elizabeth Holmes as her trial got underway Wednesday, alternatively portraying her as a greedy villain who faked her way to the top and a passionate underdog whose spent years trying to shake up the health care industry.
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Fraud trial of Theranos founder Elizabeth Holmes set to beginTheranos founder Elizabeth Holmes goes on trial on Wednesday in federal court, with prosecutors poised to lay out fraud charges against the former Silicon Valley star accused of lying about her now-defunct blood-testing startup once valued at $9 billion.
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Defense tells jurors Theranos founder Elizabeth Holmes is no 'villain'Theranos founder Elizabeth Holmes is not a villain but rather a hard-working businesswoman whose company failed, her lawyer told jurors on Wednesday at the former Silicon Valley star's trial on federal fraud charges arising from her actions at the now-defunct blood-testing startup once valued at $9 billion.
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Defense tells jurors Theranos founder Elizabeth Holmes is no 'villain'SAN JOSE, Calif. (Reuters) -Theranos founder Elizabeth Holmes is not a villain but rather a hard-working businesswoman whose company failed, her lawyer told jurors on Wednesday at the former Silicon Valley star's trial on federal fraud charges arising from her actions at the now-defunct blood-testing startup once valued at $9 billion. Lance Wade, a lawyer for Holmes, began the defense's opening statement in one of the most closely watched trials of a U.S. corporate executive in years. Wade spoke after the prosecution in its opening statement to the jury said Holmes had engaged in 'lying and cheating' to attain wealth and fame.
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Elizabeth Holmes’s Last PitchAs her federal criminal trial begins in earnest this week, Elizabeth Holmes faces her greatest challenge: convincing a jury that she is not to blame for a massive fraud
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