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Elizabeth Holmes resumes testimony as fraud trial nears end -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Elizabeth Holmes, the former chief executive officer of Theranos leaves after she was heard at San Jose federal court, California. July 17, 2019. REUTERS/Stephen Lam

Jody Godoy

SAN JOSE (California) – Elizabeth Holmes, founder of Theranos, was subject to further cross-examination Tuesday as she faced additional questions about her case on Tuesday for defrauding investors and patients in the startup’s blood-testing business.

Holmes became a Silicon Valley icon for her innovative play in reinventing diagnostic testing. However, Holmes has been accused of exaggerating Theranos’ technology for three months.

Theranos was once valued at $9Billion and then collapsed when the Wall Street Journal published several articles that started in 2015 that indicated its devices had been flawed.

Holmes stated that Theranos’ goal of producing a small device for blood testing that could be used in a more cost-effective way than currently available was achievable.

Holmes has stated that Holmes attempted to stop a Wall Street Journal article on Theranos. She claimed they were meant to safeguard the company’s trade secrets.

Robert Leach, the prosecutor has stated that he will question Holmes about this claim. Holmes also used it to justify withholding Theranos use of Walgreens third-party testing machines for blood tests.

Theranos and the pharmacy chain formed a partnership to provide blood testing in certain of their stores.

Holmes’ lawyer has stated that her defense case will be concluded this week.

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