“People lost money," Downey acknowledged Friday. The Justice Department filed its criminal case in 2018. Unknown to most people outside Theranos, the company’s blood-testing technology was flawed, often producing inaccurate results that could have endangered the lives of patients who took the tests.Īfter the flaws were exposed in 20, Theranos eventually collapsed. Holmes soon began to grace national magazine covers as a wunderkind. The Palo Alto, California, company also negotiated potentially lucrative deals with major retailers Walgreens and Safeway.
#Elizabeth holmes today 2019 software
The concept was so compelling that Theranos and Holmes were able to raise more than $900 million, some of that from billionaire investors such as media magnate Rupert Murdoch and software titan Larry Ellison. She repeatedly claimed that the company's new testing device could scan for hundreds of diseases and other problems with a few drops of blood taken with a finger prick instead of a needle stuck in a vein.
#Elizabeth holmes today 2019 trial
The trial revolves around allegations that Holmes duped investors, business partners and patients about Theranos' technology. Those purported goals were achieved in 2014 when Holmes became a media sensation with an estimated fortune of $4.5 billion based on her 50% stake in Theranos. “At so many forks in the road, she chose the wrong path," Bostic said.īostic's rebuttal echoed many of the themes touched upon in Thursday's arguments, when fellow prosecutor Jeffrey Schenk cast Holmes as a charlatan who brazenly lied to become rich and famous. He cited evidence to argue that she consistently sought to deceive people whenever she thought she could get away with her alleged ruse. “She believed she was building a technology that would change the world," Downey proclaimed Friday.įederal prosecutor John Bostic offered a rebuttal, arguing that Holmes made her attempts to salvage Theranos under intense scrutiny that gave her few other options. Why? Because she believed in this technology."Īs he did Thursday, Downey again depicted Holmes as a well-meaning entrepreneur who never stopped trying to perfect Theranos’ blood-testing technology and use it to improve health care. Referring to a 2016 turning point that threatened to ruin Theranos, Downey asked the jury: “Did she leave? No she stayed. Federal prosecutors spent three hours Thursday explaining why the jury should convict her. Had Holmes committed any crimes, she would have been scurrying to jump overboard like a scared rat, Downey, told jurors as he wrapped up roughly five hours of closing arguments. Related video: 2019 Oscar-winning film 'The Inventor' goes inside Theranos fraud In his final attempt to persuade the jury to acquit, Holmes' lawyer Kevin Downey likened her final days running a then-reeling Theranos to a captain valiantly trying to save a sinking ship. If convicted on all counts, Holmes, 37, could face up to 20 years in prison. The eight men and four women on the jury began their deliberations late on Friday and took the weekend off before they are expected to resume Monday morning to decide whether Holmes turned her blood-testing startup into a massive scam. That included the testimony of 32 witnesses - including Holmes herself - and more than 900 exhibits. The hand-off came after lawyers for the opposing sides wrapped up a second day of painstaking final arguments to sum up their respective interpretations of the evidence submitted to the jury. The jury that will weigh 11 charges of fraud and conspiracy against former Theranos CEO Elizabeth Holmes finally got the case Friday afternoon after a three-month trial that captivated Silicon Valley.
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