Instead, Theranos relied on commercially available machines to run the majority of its tests, diluting the drops of blood to increase volume for some tests and using much larger samples drawn from patients’ arms for others. But as a Wall Street Journal investigation revealed in 2015, in reality, the machine could run only a small number of the tests, and its results were rife with inaccuracies. The device was supposedly faster, cheaper, and more accurate than all other blood-testing lab equipment on the market and promised to bring critical diagnostics into drugstores, homes, and even battlefields. Once hailed as the next Steve Jobs, Holmes had sought to revolutionize medicine with Theranos’s proprietary machine, which she claimed could run hundreds of tests on just a few drops of blood.
BATTLEFIELD 5 TRIAL TRIAL
Balwani is facing the same charges as Holmes and is set to go on trial next month. Prosecutors have alleged that Holmes conspired with her ex-boyfriend Ramesh “Sunny” Balwani, who was Theranos’s president and chief operating officer, to defraud investors as well as patients and doctors who used the company’s laboratory services.
Closing arguments are expected to continue on Friday. Each count carries a sentence of up to 20 years in prison if she is convicted. She is charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud ( a 10th wire fraud count was dropped after the judge barred a patient’s testimony due to an error by prosecutors). Holmes, 37, is accused of intentionally defrauding investors and patients by making misleading and false statements about the capabilities of her blood-testing technology, the company’s work with the military and pharmaceutical giants, and the accuracy of its test results. That choice was not only callous, it was criminal.” “She chose to be dishonest with her investors and with patients. “She chose fraud over business failure,” Assistant US Attorney Jeffrey Schenk said during closing arguments. SAN JOSE, California - Prosecutors urged jurors on Thursday to be skeptical of claims Elizabeth Holmes made on the witness stand during her federal fraud trial, arguing that she could be misleading them just as she allegedly lied to keep the money flowing at her blood-testing company Theranos.
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