Ex-Theranos CEO Elizabeth Holmes's Fraud Trial Is Postponed for Virus
A federal judge postponed the criminal trial of former Theranos Inc. CEO Elizabeth Holmes because of the coronavirus pandemic, even as Holmes urges the court to throw out government evidence and a witness list she says are too massive to defend against.
At an online hearing Monday, U.S. District Judge Edward Davila in San Jose, California, put off the trial, which was scheduled to start in October, and gave no new date.
Holmes and her former boyfriend, ex-Theranos president Ramesh “Sunny” Balwani, are accused of falsely claiming that the company’s devices could perform myriad tests with a single drop of blood and of duping investors and defrauding doctors and patients who trusted the results. Theranos, which attracted the backing of high-profile investors and leading venture capital firms, was valued at $9 billion before unraveling over the alleged fraud.
At the hearing, Davila began hashing out what jurors will see and hear from more than 20 million documents and 150 witnesses. Lawyers for Holmes say prosecutors are relying on “vague themes” that fail to back up their fraud charges and that the evidence they propose to marshal lacks the detail required to give the former chief executive officer a fair chance to defend herself.
Read more: https://www.bloomberg.com/news/articles/2020-07-20/elizabeth-holmes-criminal-fraud-trial-is-postponed
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