Holmes to resume testifying in Theranos fraud trial -Breaking
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Jody Godoy
SAN JOSE CA (Reuters) – Theranos founder Elizabeth Holmes was expected to take the stand again Monday in support of investors and patients against allegations that she defrauded them about Theranos, a blood-testing company once valued at 9 billion.
On Monday, more than 50 spectators and journalists gathered outside San Jose’s courthouse, California where Holmes was being tried.
Holmes (37), once referred to as “Steve Jobs” of biotech technology, has been accused of falsely claiming that Theranos’ technology can run diagnostic tests faster and more accurately than traditional laboratory testing using a drop from a finger.
She has pleaded guilty to nine wire fraud charges and two conspiracy counts.
Theranos suffered after The Wall Street Journal published several articles in 2015 suggesting its devices had been flawed.
Over the course the two-month trial jurors heard evidence from more than twenty prosecution witnesses. This includes investors and patients whom Holmes allegedly conned.
Prosecutors must prove that Holmes intended to defraud in order to bring the most severe charges of wire fraud.
Holmes said Friday that she believed in Theranos’ technology because of her experience at Theranos.
Lance Wade, the defense attorney, stated to jurors that Holmes was an entrepreneur and young entrepreneur who underestimated all of Theranos’ obstacles during September opening statements.
While defendants are not allowed to testify during criminal trials, they may sometimes be asked to do so because it is possible to raise reasonable doubts about their guilt or to make the prosecution seem weaker.
There is a risk that they may be cross examined by prosecutors to find out if there are any inconsistencies in or lies about their testimony.
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