Attorneys for Elizabeth Holmes made their final stand on Friday as jurors ready to resolve whether or not the Theranos founder is responsible of conspiracy and fraud.
Federal prosecutors have portrayed Holmes as a crook and liar who defrauded traders out of almost $1 billion and put sufferers in danger by offering defective blood assessments.
Holmes’ attorneys responded that the founder genuinely believed that Theranos would revolutionize healthcare by creating a less expensive, simpler and faster strategy to check blood.
As proof, Holmes’ legal professional Kevin Downey pointed to the truth that Holmes stayed at Theranos till the bitter finish, lengthy after many traders and staff jumped ship within the wake of a damning 2015 Wall Avenue Journal exposé exhibiting that the corporate’s know-how was deeply flawed.
The corporate, which was as soon as valued at $9 billion, formally folded in 2018 with Holmes nonetheless on the helm.
“You recognize that on the first signal of bother, crooks money out,” Downey informed jurors in San Jose federal courtroom. “She went down with that ship when it went down.”
“She believed she was constructing a know-how that might change the world,” he added.
Downey’s dramatic remaining speech got here earlier than the jury — which is made up of 10 males and 4 ladies, together with two alternates — started the method of deciding Holmes’ destiny after three months of testimony.
Jurors should agree unanimously to convict or acquit Holmes on every of 9 counts of federal wire fraud and two counts of conspiracy to commit wire fraud that might lead to a 20-year jail sentence. They are going to be allowed to deliberate by the vacations if wanted.
One other key a part of Holmes’ protection has concerned portray Ramesh “Sonny” Balwani, her ex-boyfriend and the Theranos’ former chief operating officer, as the true fraudster.
Holmes, who took the unusual step of personally testifying in her trial, has accused Balwani of emotional and sexual abuse and blamed his allegedly controlling nature for Theranos’ errors.
Balwani — who is almost 20 years older than Holmes — informed the founder communicate, spend her time and even what to eat, Holmes testified earlier in December.
“He informed me that I didn’t know what I used to be doing in enterprise, that my convictions had been unsuitable, that he was astonished at my mediocrity and if I adopted my instincts, I used to be going to fail,” Holmes claimed, including that Balwani sometimes forced her into sex.
After one time that Balwani allegedly compelled Holmes to have intercourse, she wrote in an iPhone notice: “Don’t get pleasure from actually something about it or who I’m if I did it. Hurts a lot. So a lot. Can’t give attention to something besides why? Why hurting myself? Can’t even transfer not to mention do sit-ups or truly sit up. Mendacity swollen. Actually.”
Balwani, who has denied the accusations, is dealing with the identical costs as Holmes in a separate trial set to start in 2022.
Prosecutors have informed jurors that they will take Holmes’ phrase that she was a sufferer of abuse whereas convicting her of conspiracy and fraud.
With Submit wires
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