Elizabeth Holmes’ criminal fraud trial set to begin Tuesday

 

 

Elizabeth Holmes is going to be on trial this coming Tuesday. The  trial could  last as long as four months, Holmes’ attorney, Lance Wade said. Her  defense team has not yet said  whether she will testify in her own defense.

CNBC reports that many of the employees that worked at Therons or Elizabeth Holmes are now speaking out. They are very scared that their careers will now be ruined due to the fraud allegations against Theronas, afraid of retribution from Holmes and former Theranos president, Sunny Balwani.

Theronas  funding had reached a  $9 billion valuation and “unicorn” status,  but later dissolved  under regulatory and legal pressures in 2018.

Their lawyers are concerned the jury will be tainted from all the media attention that has occurred , requesting to know which potential jurors had been aware of the  coverage of Holmes and Theranos’ fall from grace.

Balwani, Holmes business partner and husband is set to be tried  separately in January 2022. According to Kathrein, the split benefits both defendants.

As reported by CNBC,  “I wouldn’t be surprised if either one of them turned into ‘War of the Roses,’” Nies who was a former employee said referring to the 1989 movie where a married couple battles over a nasty divorce. “He’s got more desperation in the sense of money, and she’s got a life to look forward to now that she’s trying to recreate. The recipe is there for a blame game.”

The Wall Street Journal had published a report about theranosis blood testing technology not working as Elizabeth Holmes reported it to be. In 2015 she appeared on CNBC’s mad money defending the technology and her company.

If convicted, Holmes faces 20 years in prison. She has plead not guilty.

 


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