Elizabeth Holmes details abusive relationship with Sunny Balwani
SAN JOSE, CALIF. — In emotional and at times tearful testimony on Monday, Theranos founder Elizabeth Holmes accused ex-boyfriend Ramesh “Sunny” Balwani, who was also the company’s president, of a pattern of physical and psychological abuse, including forced sex.
Holmes, 37, appeared on the witness stand to answer the defense’s fourth and last day of questions. Next up is the prosecution in what will likely be an intense cross-examination. Holmes, 37, is charged with 11 counts of wire fraud as well as conspiracy to commit fraud in connection to her work at the blood-testing firm. This company was only a few years old and had been valued at $9 billion.
Holmes had mentioned Balwani numerous times during her three-day testimony. However, abuse was not brought up until Monday afternoon when the defense focused on the issue. central claimJust before the trial, it was done. Balwani accused Holmes of a “decade-long campaign psychological abuse,” according to her attorneys.
Holmes said Monday to jurors that Balwani had repeatedly criticized Holmes’ work ethic and “mediocrity” as an entrepreneur for their decade together. Holmes also stated that Balwani “came across like a little girl.” According to her, physical abuse was inevitable.
Holmes was occasionally overcome by tears. Holmes said, “He used to get really mad at me and would force me to have sexual relations with him whenever I did not want.”
Holmes was asked about the impact Balwani’s behaviour had on her relationships with her family and Holmes responded that it was especially damaging.
She said that she saw and spoke less to the employees than any other person, as well as less about them than ever before. It was because I tried to put all of my focus on the company. Sunny would be very angry if Sunny was not with his family. He claimed it was a distraction for the company.”
Jeffrey Coopersmith is Balwani’s attorney. He declined to comment.
Sunny Balwani was the former chief operating officer and president of Theranos Inc.
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Trials are free of charge first 11 weeksProsecutors called in former lab directors and doctors as well business partners, investors, and journalist Roger Parloff who wrote Fortune magazine 2014. cover storyThe CEO of this company is looking for blood.
On Nov. 19, the prosecution was done. Later that day, the defense shocked the courtroom. calling Holmes as a witness. She could serve up to twenty-five years imprisonment for the Stanford University dropout, and former Silicon Valley wonderwoman. She has pleaded not guilty.
Balwani is 20 years younger than Holmes and faces the same charges. He will face trial at a later time. He also pleaded no guilty.
Theranos was founded by Holmes in 2003. Six years later, Balwani was appointed second-in command by Holmes. Holmes claimed that Balwani had been responsible for operating company labs as well as handling financial projections.
Holmes revealed to jurors Monday that she had met Balwani while in China. At the time she was just 18 years old, while he was 38.
He was an extremely successful businessman and I knew that. Bill GatesThe early days Microsoft,” Holmes said. Holmes said, “I spoke to him about my desire to start a business. This was a company I had tried building in high school. I sought his guidance.”
Holmes received an email from Balwani while she was at Stanford in the school year that followed. Holmes left Stanford in her second year to start work at Theranos.
Kevin Downey (Hams’ attorney) asked Holmes if Holmes had any other reasons.
Holmes cried, “I was raped.” CNBC reported that police had not received any report from Holmes under their name.
Then, she was asked what impact that event had on her personal life.
“I was pondering about what and how I would be able process this experience, as well as what my future plans were,” she explained. “And then I realized that I wanted to make a living by starting this company.”
Downey wanted to know if Holmes had talked with Balwani over the incident. Holmes replied that she had and said, “He told me that I was safer now that I’d met him.”
Holmes, who was the undisputed leader of Theranos and single-handedly responsible for its most important decisions, was the subject of a number of witnesses in the prosecution case. Holmes arranged meetings for potential partners, met investors, and selected board members.
In her defense responses, she admitted that her behaviour was not perfect. adding drugmaker logosHolmes maintained that her intention was not to mislead investors and patients according to Theranos Lab reports.
Holmes now asks jurors to believe she was in Balwani’s influence for at most ten years.
Holmes said that Holmes had told Holmes, “He told me that I wasn’t sure what I was doing in my business. That my convictions were incorrect, that he was shocked by my mediocrity. And that if my instincts led to failure, I would fail. Holmes also stated that Holmes must kill who I am to be what he described as a new Elizabeth.
Balwani demanded that she worked seven days per week to make her business a success. She also insisted that she spend as much time as possible with those who are able to help the company.
She stated that her husband would not tell her to get too much sleep and she would only recommend foods that are pure, healthy, and will give you the best energy.
Downey read from Balwani To Holmes, Nov. 30, 2013. It stated that “when my family is here I feel very isolated.”
Holmes gave the background for the text to the jury.
She said, “He is angry at me because he feels neglected when my family comes for Thanksgiving.” “This was the night he, crying came upstairs to do things to me and hurt me.
Downey inquired Holmes about taking notes after Sunny made intercourse with her.
Holmes stated that she did, citing a note from February 2015. Holmes stated that she had and referenced a note from February 2015.
Her response was, “He had taught my everything about business. I thought that he was one of the greatest business people I ever knew.” He was a great mentor and I don’t think I would have questioned him otherwise.
Holmes explained that Holmes’ view began to change after 2016. Holmes said her view began to change in 2016. inspectionTheranos was exposed by a number of Wall Street Journal stories, which revealed its false claims and technological shortcomings.
Holmes stated that Holmes believed that the lab was one of the top in the world. However, the inspection revealed that Holmes had been wrong.
Balwani left soon after Balwani’s dismay at her hiring of two laboratory directors following the failure to pass an inspection.
Holmes explained that Holmes wasn’t the man he claimed to be. And I realized I could fix the problems without him and make the company realize its true potential.
Holmes stated, however, that her lawyer did not force her to answer any questions about Theranos to journalists, investors or business partners.
Downey asked: “What effect, if any? Did your relationship with Mr. Balwani on your work at Theranos?”
She replied, “I don’t understand.” She said, “He affected everything I know about myself and I don’t completely understand why.”
Holmes was asked the question about the company’s value at the end of Downey’s questions. Holmes said that it was worth $9 billion. Holmes held 50% of the company, which gave her an estimated net worth around $4.5 billion. This is equal to the amount she was given by Forbes Magazine2015 In 2015, these shares had lost their value a year later.
Holmes stated to Downey she was able to sell the stock to potential investors connected to different board members. She said that she has never sold when she was asked.
She stated, “I wasn’t willing to.” She said, “I believed in this company and wanted to give everything I had into it.”
“Do these shares hold any value now?” Downey inquired.
“No,” Holmes said.
Just before 4:00 p.m. California Time, the court was called into recess. Cross-examination by the government will start Tuesday morning.
Holmes tried to establish eye contact with all jurors when they left the courtroom. Many did not even look at Holmes.