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Theranos founder Elizabeth Holmes to face cross-examination at fraud trial -Breaking


© Reuters. FILE PHOTO: Elizabeth Holmes, founder of Theranos, leaves following her fraud trial in San Jose (California), U.S.A, November 22nd, 2021. REUTERS/Brittany Hosea-Small/File Photo

Jody Godoy

SAN JOSE CA (Reuters) – Elizabeth Holmes, Theranos founder, is likely to be cross-examined by a prosecutor Tuesday in an important moment in Theranos’ fraud trial.

Prosecutors claim that the ex-Star Silicon Valley Silicon Valley lied about how effective the startup’s technology was. They claimed it could perform diagnostic tests faster and more accurately than conventional lab testing.

Holmes, age 37, was charged with nine counts each of wire fraud, and two counts for conspiracy. Holmes pleaded not guilty.

She is unusually willing to testify in her defense. It exposes her and allows her to be questioned about the testimony she gave. Pfizer Inc. (NYSE:)

Holmes insisted that Holmes did not misrepresent Theranos’ involvement with the U.S. Military. This will be fair game as well as recordings of conversations with a journalist, who wrote an admiring profile about Holmes and Theranos.

Holmes was question by her own lawyer Monday. She stated that her ex-romantic partner, Ramesh Balwani, was abusive to her and that it had an enduring impact on her life at the time that she admitted to fraud.

Holmes last week testified that Balwani had prepared financial projections which were shared with investors.

On Monday, she said that she didn’t question him enough because he taught her everything she thought she knew about business.

Balwani “categorically” denied all allegations made in court documents, calling them “false” and “inflammatory”. Balwani was not able to respond on Monday to our request for comment.

Balwani is being tried separately on fraud charges. He has pleaded guilty.

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