Elizabeth Holmes (L) speaks onstage in 2015 alongside Alibaba’s Jack Ma. The Theranos founder is expected to continue testifying Monday in her high-profile fraud trial. File Photo by John Angelillo/UPI | License Photo
Nov. 22 (UPI) — Elizabeth Holmes is expected to resume testifying Monday in her high-profile fraud trial, where she is accused of bilking more than $700 million from investors in her Theranos venture.
Holmes, 37, was seen entering federal court in San Jose, Calif. just before 8 a.m. local time holding hands with her partner, Billy Evans, and her mother, Noel. Holmes briefly took the stand an hour before court recessed on Friday.
The Silicon Valley entrepreneur startled legal experts when she unexpectedly decided to take the stand — opening her up to cross-examination from prosecutors alleging she defrauded investors before the company was dissolved in September 2018.
Holmes founded the blood-testing startup Theranos in 2003. She has pleaded not guilty to 11 counts of fraud charges after she was indicted in 2018. For each count, she faces up to 20 years in prison and a fine of $250,000 plus restitution if convicted.
Opening arguments for the trial, now its 11th week, began on Sept. 8. Holmes had remained quiet about her case until first taking the stand last week before a jury of eight men and four women.
During her testimony last Friday, Holmes spoke at length about the company’s early days and confirmed when asked by her layer Kevin Downey that her company’s technology was “capable of running any blood tests.”
Holmes’ testimony last week did not mention former boyfriend and COO of Theranos, Ramesh “Sunny” Balwani, who is also facing charges in a separate trial scheduled for next year for the alleged fraud scheme.
Holmes’ trial is expected to run through Dec. 17.
Elizabeth Holmes (L) speaks onstage in 2015 alongside Alibaba’s Jack Ma. The Theranos founder is expected to continue testifying Monday in her high-profile fraud trial. File Photo by John Angelillo/UPI | License Photo Nov. 22 (UPI) — Elizabeth Holmes is expected to resume testifying Monday in her high-profile fraud trial, where she is accused of bilking more than $700 million from investors in her Theranos venture. Holmes, 37, was seen entering federal court in San Jose, Calif. just before 8 a.m. local time holding hands with her partner, Billy Evans, and her mother, Noel. Holmes briefly took the stand an hour before court recessed on Friday. The Silicon Valley entrepreneur startled legal experts when she unexpectedly decided to take the stand — opening her up to cross-examination from prosecutors alleging she defrauded investors before the company was dissolved in September 2018. Holmes founded the blood-testing startup Theranos in 2003. She has pleaded not guilty to 11 counts of fraud charges after she was indicted in 2018. For each count, she faces up to 20 years in prison and a fine of $250,000 plus restitution if convicted. Opening arguments for the trial, now its 11th week, began on Sept. 8. Holmes had remained quiet about her case until first taking the stand last week before a jury of eight men and four women. During her testimony last Friday, Holmes spoke at length about the company’s early days and confirmed when asked by her layer Kevin Downey that her company’s technology was “capable of running any blood tests.” Holmes’ testimony last week did not mention former boyfriend and COO of Theranos, Ramesh “Sunny” Balwani, who is also facing charges in a separate trial scheduled for next year for the alleged fraud scheme. Holmes’ trial is expected to run through Dec. 17.