Elizabeth Holmes Theranos trial: What to expect from closing arguments

Yahoo Finance's Alexis Keenan reports on what to expect as Elizabeth Holmes' defense team delivers their closing arguments. Closing arguments began today in the trial of Elizabeth Holmes, who could go to prison for as long as 20 years if she's convicted of defrauding patients and investors in her blood-testing startup. Prosecutors will get the first opportunity to make their final arguments. Then, the defense team will make their case for their client, who claims she never intentionally deceived anybody by suggesting her startup, Theranos, could perform hundreds of diagnostic tests with just a few drops of blood. After the defense rests, prosecutors will have a final opportunity to address the jury. Cardozo Law School professor Jessica Roth says she expects the government during closing to reinforce that Holmes, as CEO, many times proclaimed herself responsible for everything that happened at the company and as someone who was aware of its shortcomings. The evidence produced at trial — both the documents and the testimony of witnesses — supported the claim that Holmes was aware of problems with the technology, and with the financial health of the company,” Roth tells Yahoo Finance. “That evidence will be used by the government to argue that Holmes had criminal intent when she made statements to investors and to paying patients.” Holmes is defending 11 counts of fraud and conspiracy for allegedly misrepresenting the viability of Theranos’ blood-testing technology to investors and paying customers. She was indicted back in 2018 after Theranos imploded under regulatory scrutiny, along with Theranos COO and her onetime boyfriend, Sunny Balwani. He faces the same charges and is scheduled to stand trial next year. Holmes knew Theranos’ technology was faulty but promoted it anyway: prosecutors One example the government can revisit to show Holmes’ level of awareness is testimony from former Theranos lab director, Kingshuk Das. According to CNBC, Das testified that in 2015 he informed Holmes of a prostate-specific antigen test that was showing inaccuracies. Holmes, he said, chalked up the inaccuracies to quality control and assurance rather than its analyzer’s instrument failure. Holmes, who testified in her own defense, stopped short of admitting she understood the extent of the technology’s pitfalls. While she conceded her ultimate responsibility for Theranos as CEO, Holmes said she believed the technology worked based on representations from company experts and that she mistakenly delegated key decisions to Balwani. For more on this article please visit: https://finance.yahoo.com/news/elizabeth-holmes-closing-arguments-prosecutors-123011195.html Don't Miss: Valley of Hype: The Culture That Built Elizabeth Holmes WATCH HERE: https://youtu.be/Sb179GLPNYE

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