Jury has the chance to hear Elizabeth Holmes' bold claims

A jury was weighing the fate for Elizabeth Holmes, a fallen Silicon Valley star. Friday's hearing allowed them to hear recordings of Holmes boasting to investors about her purported breakthroughs in blood-testing technology.

Jury has the chance to hear Elizabeth Holmes' bold claims

A jury was weighing the fate for Elizabeth Holmes, a fallen Silicon Valley star. Friday's hearing allowed them to hear recordings of Holmes boasting to investors about her purported breakthroughs in blood-testing technology.

Mine Nur Deniz
Mine Nur Deniz
23 October 2021 Saturday 14:24
19 Reads
Jury has the chance to hear Elizabeth Holmes' bold claims

However, the technology that was heralded for its quantum leap in blood testing later became a scandal that threatens to put her in prison.

The drama unfolded at a San Jose courtroom. Federal prosecutors played recordings from Holmes' December 2013 conference call with investors in Theranos. Holmes started Theranos in 2003 after she dropped out of college at 19, in hopes of becoming an Apple co-founder.

The Holmes audio clips capped the sixth week in a high-profile trial that revolved around allegations Holmes deceived sophisticated investors and major retailers by promising bogus results about Edison, a Theranos device. With just a few drops from blood and a finger prick, the machine would be able scan for hundreds potential health issues.

Holmes, who spoke in a quiet voice some critics claimed she used to make herself more authoritative, boasted of partnerships with large pharmaceutical companies like Pfizer. However, evidence from the trial showed that this didn't happen. Theranos couldn’t get Edison to work properly, Holmes also spoke of contracts that didn’t materialize. The repeated failures of the device disillusioned James Mattis, a former U.S. Defense secretary and ally who testified earlier at trial.

Holmes said that she could create what had the potential to be the country's largest laboratory in one of the Friday clips. This ambition was just months after Theranos agreed to open "wellness" centers for blood-testing in Walgreens stores throughout the country.

Theranos was only found in 40 Walgreens shops. Walgreens invested $140 million in Theranos. This was after a series explosive articles in The Wall Street Journal, and regulatory audits revealed chronic flaws with the blood-testing technology.

Holmes raised hundreds of millions from investors before everything collapsed. This included billionaires like Rupert Murdoch (media mogul), the Walton family behind Walmart and Larry Ellison, Oracle co-founder. Bryan Tolbert recorded the clips Friday. He is an advisor to Carl Hall, a Dallas real estate developer who invested $7M in Theranos. The private Theranos was valued at $9 billion at one time, with Holmes owning a $4.5 million stake. If she is convicted, she could spend up to 20 years prison. This is in addition to a trial that will continue through the end of this year.

Holmes sat silently with her lawyers on Friday, as she did throughout the trial. Her voice filled the courtroom. Holmes has not had an opportunity to speak at the trial. However, her lawyers have indicated that she may eventually testify on her behalf as Theranos CEO.

Holmes, 37, denied any wrongdoing and blamed her misconduct on her ex-boyfriend, Ramesh Bulwani (who was Theranos chief operating officer). According to court documents, Holmes' lawyers claim that she was manipulated and manipulated by Bulwani. His lawyer strongly refutes this accusation. Bulwani will be facing a separate trial in the coming year.

Friday's U.S. District Judge Edward Davila fired one member of the jury who listened attentively to Holmes' recordings. The original jury was comprised 17 people, with five alternates. Now, it is composed of 10 men and 4 women.

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