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Elizabeth Holmes: Theranos founder gets hearing on new trial

Published
1 day ago

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Theranos trial
Theranos founder Elizabeth Holmes.
IMAGE SOURCE,GETTY IMAGES
By Peter Hoskins
Business reporter
Sentencing of former Theranos boss Elizabeth Holmes has been delayed as a judge
considers whether the testimony of a key witness in her high-profile trial was
truthful.

Holmes requested a new trial after claiming that federal prosecutors presented
misleading evidence.

She was convicted in January on four of 11 counts of defrauding investors in the

blood-testing firm.

The decision marks the latest twist in a case that has gripped Silicon Valley.
Holmes entered the "motion for a new trial based on newly discovered evidence"
regarding former Theranos laboratory director Adam Rosendorff, court papers showed.

Theranos founder Elizabeth Holmes guilty of fraud

Theranos exec Sunny Balwani convicted of fraud
Holmes' lawyers said that Mr Rosendorff appeared at her home in August to express
regret over his testimony in the trial.

This latest development comes after her lawyers last month failed in an attempt to
get the conviction overturned.

Holmes, who is currently free on bail, had been due to be sentenced on 17 October.

In January, a jury found Holmes guilty of defrauding investors after a months-long

landmark trial in California.

Jurors found her guilty of conspiracy to commit fraud against investors and three
charges of wire fraud. She denied the charges.

Prosecutors said Holmes knowingly lied about technology that she said could detect
diseases such as cancer and diabetes with a few drops of blood. The firm promised
that it would revolutionise the healthcare industry with the test.

But these claims began to unravel in 2015 after a Wall Street Journal investigation
reported that its core blood-testing technology did not work.

Her ex-boyfriend and former Theranos President Ramesh "Sunny" Balwani was found
guilty in July on similar counts, as well as defrauding patients. He is scheduled
to be sentenced next month.

Theranos was once the darling of biotech and Silicon Valley, valued at $9bn
(£7.9bn) at its peak.

Holmes was able to raise more than $900m from billionaires, including media magnate
Rupert Murdoch and technology mogul Larry Ellison.

Media caption,
The rise and fall of Elizabeth Holmes

More on this story

Theranos founder Elizabeth Holmes guilty of fraud
4 January
Elizabeth Holmes, founder and former CEO of Theranos, arrives for motion hearing on
Monday, November 4, 2019, at the U.S. District Court House inside Robert F. Peckham
Federal Building in San Jose, California
Theranos exec Sunny Balwani convicted of fraud
7 July
Mr Balwani is photographed arriving at court
Elizabeth Holmes: From tech star to convicted fraudster
4 January
Elizabeth Holmes at court
Related Topics
Theranos trial
Silicon Valley
Fraud
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