We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: Elizabeth Holmes Trial: Jurors Deliberate for a Third Day
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Tech / Science > Elizabeth Holmes Trial: Jurors Deliberate for a Third Day
Tech / Science

Elizabeth Holmes Trial: Jurors Deliberate for a Third Day

By Editorial Board Published December 23, 2021 3 Min Read
Share
Elizabeth Holmes Trial: Jurors Deliberate for a Third Day
23economy briefing holmes trial facebookJumbo

Jurors ended a third day of deliberations on Thursday without a verdict in the fraud trial of Elizabeth Holmes, the founder of the failed blood testing start-up Theranos.

Ms. Holmes, 37, faces two counts of conspiracy to commit wire fraud and nine counts of wire fraud for allegedly lying about Theranos’s technology to land money and fame. If convicted, she could serve up to 20 years in prison.

A jury of eight men and four women began deliberations on Monday and continued their discussions on Tuesday. On Tuesday afternoon, they asked whether they could take jury instructions home. (The response was no.) They had Wednesday off.

On Thursday, they deliberated for a full day. At one point, they asked to listen to audio recordings of a call Ms. Holmes had had with investors. In that call, Ms. Holmes said that she had built Theranos’s business on “partnerships with the pharmaceutical companies and our contracts with the military.” Yet pharmaceutical companies recommended against using Theranos’s technology and the military never used its devices on the battlefield.

Deliberations will resume on Monday morning.

In Silicon Valley, start-up founders are rarely prosecuted for their truth-stretching claims. Ms. Holmes, who stood out as a female founder in the male-dominated industry, intentionally molded herself after Apple’s Steve Jobs. She started Theranos in 2003, dropped out of Stanford University to in 2004 and spent the next decade raising nearly $1 billion from venture capitalists and wealthy family offices.

In 2015, a Wall Street Journal investigation revealed that Ms. Holmes had overstated the capabilities of Theranos’s blood testing technology, as well as its relationships with pharmaceutical companies and the military. The company shut down in 2018.

The case boils down to whether Ms. Holmes meant to deceive investors, patients and others, or whether she acted in good faith.

Prosecutors called 29 witnesses, seeking to prove that Ms. Holmes “chose fraud over business failure” through misleading validation reports, faked demonstrations, inaccurate marketing materials and other false claims.

Ms. Holmes took the stand for seven days, anchoring her defense. She recast herself as a naïve entrepreneur led astray by those around her. In emotional testimony, she accused Ramesh Balwani, Theranos’s former chief operating officer, of emotionally and physically abusing her during their secret, decade-long relationship. Mr. Balwani, who is known as Sunny, has denied her allegations.

TAGGED:EntrepreneurshipFrauds and SwindlingHolmes, Elizabeth (1984- )Shutdowns (Institutional)Start-upsTests (Medical)The Washington MailTheranos IncVenture Capital
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

Michael Frison: Mom of British man lacking in Sardinia describes ‘unending nightmare’

Michael Frison: Mom of British man lacking in Sardinia describes ‘unending nightmare’

World
July 12, 2025
Donald Trump proclaims 30% tariff on imports from EU

Donald Trump proclaims 30% tariff on imports from EU

Donald Trump has introduced he'll impose a 30% tariff on imports from the European Union…

July 12, 2025
Dodgers coach Dino Ebel’s eldest son discovered classes from the professionals

Dodgers coach Dino Ebel’s eldest son discovered classes from the professionals

MILWAUKEE — As a tour group gathered within the press field at American Household Area on Monday,…

July 12, 2025
20 Sides That Make the Meal—These Are Summer season’s Undisputed Finest

20 Sides That Make the Meal—These Are Summer season’s Undisputed Finest

There’s by no means a greater time of 12 months than *proper now* to simplify…

July 12, 2025
Letters to Sports activities: Of us are singing the Dodger blues

Letters to Sports activities: Of us are singing the Dodger blues

These days, whereas watching the Dodgers play, shedding streak and all, I'm reminded of one…

July 12, 2025

YOU MAY ALSO LIKE

Thriller discovery in area is probably the ‘oldest comet ever seen’, say researchers

A thriller interstellar object found by British astronomers is probably the oldest comet ever seen.The "water ice-rich" customer, which has…

Tech / Science
July 11, 2025

TV physician and IVF pioneer quits British Medical Affiliation over ‘damaging’ deliberate strikes

One of many UK's best-known medical doctors says he has resigned from the British Medical Affiliation (BMA) as a result…

Tech / Science
July 11, 2025

Warmth deaths in England and Wales might surge 50-fold by 2070s, research warns

Warmth-related deaths in England and Wales might rise 50-fold by the 2070s as local weather change collides with an ageing…

Tech / Science
July 10, 2025

South West Water agrees to pay £24m for wastewater failures

South West Water has agreed to pay a £24m penalty for wastewater spillages, the water regulator mentioned. The corporate, serving…

Tech / Science
July 10, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?