The disgraced Founder of Theranos, Elizabeth Holmes, will go on trial in March 2021 for defrauding investors by falsely claiming that Theranos machines can perform a variety of tests with a drop of bachelor blood, ending years of controversy over one of Silicon Valley’s dramatic highs. Falls.
The trial originally scheduled to begin in October, but delayed due to coronavirus.
The jury variety will begin on March 9 and opening statements are scheduled for March 16.
Holmes, along with his former romantic spouse and President of Theranos, Sunny Balwani, faces charges for wire fraud claiming that Theranos machines can perform multiple tests with a drop of single blood when they knew the generation was unable to do so.
Both Holmes and Balwani have pleaded guilty and are lately fighting other election charges filed in recent months, extending the scope of existing charges.
If convicted, they face up to 20 years in prison.
The impressive fall of the once-hailed Theranos has become an encouraging tale of the ethics of falsting Silicon Valley. Holmes founded the biotechnology company Theranos as a Stanford defector at the age of 19, promising to revolutionize blood tests. But after achieving a price of $9 billion, winning board members like former Secretary of State Henry Kissinger and signing a lucrative deal to place Theranos devices in Walgreens stores, a series of Wall Street Journal research reports in 2015 revealed that Theranos’ device is Array and the company does not work as advertised even though it all closed in September 2018 , some time after Holmes and Balwani were indicted.
Jennifer Lawrence will play Holmes in an upcoming film about Theranos in Wall Street Journal journalist John Carreyrou’s eBook on Bad Blood.
I’m a San Francisco-based journalist, the latest news in Forbes. I have already reported on USA Today, Business Insider, The San Francisco Business Times and San
I’m a San Francisco reporter covering the latest news in Forbes. In the past, I worked for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was editor of the Daily Orange, the university’s independent student newspaper. Follow me on Twitter @rachsandl or email me [email protected].