The government rested its case against fallen Silicon Valley star Elizabeth Holmes, after spending more than two months trying to prove she bamboozled patients and business partners into believing that her startup Theranos was about to reshape health care.
government’s allegations that to she bamboozled investors and patients into believing that her startup, Theranos, would reshape health care.
“He encouraged me to continue my research,” Holmes recalled. She spoke in a husky voice that became one of her trademarks as she raised hundreds of millions of dollars and touted the revolutionary potential of Theranos’ technology. That combination of compelling testimony and documentary evidence may apparently proved effective at convincing Holmes to tell her side of the story in court. Listening will be 10 men and four women on the jury that will ultimately decide her fate in the criminal trial. If convicted, Holmes -- now 37 and now a mother to a recently born son -- could be sentenced to up to 20 years in prison.SAN JOSE, Calif.
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. 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 stores. Those investments at one point valued Theranos at $9 billion, giving Holmes a $4.5 billion fortune — on paper — in 2014.
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