Elizabeth Holmes’ Defense Rests In Theranos Criminal Fraud Trial

The new date is Dec 8, 2021.

The founder and former CEO of Theranos testified for seven days, blaming her ex-lover and business partner for her downfall, but her lawyers rested their case on Wednesday.

The founder and former CEO of Theranos is in San Jose, California. The photo was taken by Justin Sullivan.

The images are from the same company.

In one of their final questions, a defense lawyer asked if her successful recruitment of investors was a result of her attempts to deceive them, to which she replied "Of course not", repeating her argument that she never deceived anyone.

Each of the 11 charges of wire fraud and conspiracy to commit wire fraud carries a maximum sentence of 20 years in prison.

She testified last week that she applied the logos of Pfizer and Schering-Plough to reports Theranos sent investors, saying she wished she had done it differently.

The founder of the blood-testing startup blamed her employees, who she said told her the startup's technology was moving in the right direction, though the prosecution tried to puncture her claim by highlighting a presentation she received that stated the capabilities of its blood testing device.

She said Balwani had affected her judgement as CEO after she accused him of physically and emotionally abusing her. He is set to appear in court for a fraud trial next year.

She hid the firm's use of third-party blood-testing devices because it was tied to its "trade secrets," the Guardian reported, and she said she didn't remember.

The government portrayed the CEO of the startup as a liar who deceived investors, doctors and patients, building the startup on technology that did not exist from the start. The defense tried to portray an image of a successful businesswoman. She became a media sensation because of her claims that Theranos technology could perform 200 diagnostic tests with a few drops of blood, and she lied about her device being used on military helicopters. The startup raised nearly $1 billion and was backed by prominent investors. The company went downhill after Wall Street Journal reporter John Carreyou published a series of articles based on employees revelations that the device at times returned incorrect results and could only run a few diagnostic tests the company had claimed.

What to watch for.

Next week is when closing arguments are expected to take place.

The defense rests its case.

After spending days trying to convince the jury that she acted in good faith, Elizabeth Holmes finished testifying.

The trial of Theranos will begin with the testimony of Elizabeth Holmes.

The prosecution is going to grill ElizabethHolmes again.

The Wall Street Journal has a story on Elizabeth Holmes's testimony.