The alleged abuse created a "a mental health condition bearing on guilt," her lawyers have written.Ĭourt filings also disclosed that Holmes plans on accusing Balwani of domestic abuse, including throwing "hard, sharp objects" at her. Holmes' defense strategy came into view in the documents the court released on Saturday: that Holmes intends to say Balwani controlled what Holmes' ate, when she slept, how she dressed and with whom she spoke. Now the two are blaming each other for the company's downfall. Holmes and Balwani had a secret romance when she was Theranos' CEO and he was its president and chief operating officer. "If she's convicted, I expect it to be a wake-up call in Silicon Valley to how much you can exaggerate, how much you can lie, how much you can experiment with your products before you cross that bright red line before you have to go to prison." Holmes expected to claim ex-boyfriend manipulated her "If she's acquitted, the lesson that a lot of entrepreneurs and VCs in Silicon Valley are going to retain is that Holmes got away with it," Carreyrou said.
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First, they think you're crazy, then they fight you, then all of a sudden you change the world," Holmes told CNBC in 2018.įederal prosecutors allege that she was not a scientific genius but rather a huckster who knowingly shilled technology that gave flawed or downright incorrect results to patients and left investors holding the bag.Ĭarreyrou, who has left The Journal and will be chronicling the trial in a podcast called Bad Blood: The Final Chapter, said the case could have far-reaching implications for tech startup culture. "This is what happens when you work to change things. Plans to expand testing to the rest of the nation were scrapped.Īs Theranos became embattled, Holmes was defiant. Walgreens stores in Arizona and California stopped allowing patients to get Theranos tests. President Bill Clinton listens during the closing session of the Clinton Global Initiative in 2015 in New York City. And Carreyrou's reporting revealed a pattern of flaws and inaccuracies in patient results. Journalist John Carreyrou revealed that, instead, the company relied mostly on traditional blood-processing machines.
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That's when a series of stories in The Wall Street Journal showed that Theranos was not using some new breakthrough equipment, as Holmes had claimed. Holmes cultivated a mystique that included a signature black turtleneck like Apple co-founder Steve Jobs, whom she greatly admired.īig names from former President Bill Clinton to former Secretary of State Henry Kissinger to Mexican billionaire Carlos Slim believed in the company, helping it attract global investment and a valuation of more than $9 billion before its fall from grace in 2015. She promised its technology could screen patients for hundreds of diseases with just a finger prick of blood. ''Fake it until you make it'' approach led to criminal chargesĪ Stanford University dropout, Holmes dazzled Silicon Valley by founding Theranos at age 19. The judge has said there will be arrangements allowing her to care for her baby boy in the courthouse. Holmes, who is reportedly married to the heir of a California hotel chain, Billy Evans, recently gave birth.
If convicted, each faces a prison sentence of up to 20 years. Technology Elizabeth Holmes Plans To Accuse Ex-Boyfriend Of Abuse At Theranos Fraud Trialīoth she and Balwani, who will be tried separately next year, have pleaded not guilty. In court documents unsealed Saturday, and first reported by NPR, Holmes' legal team said she is highly likely to take the witness stand and accuse Balwani of manipulating and abusing her to such a degree that it affected her state of mind during the time of the alleged fraud. The trial in San Jose, Calif., is expected to stretch on for four months. Another, who was pregnant at the time, was incorrectly told she had miscarried her baby.Īfter the jury is chosen, opening arguments are slated to start on Sept. Some had been told they were HIV-positive. Patients who were wrongly diagnosed by Theranos tests are set to testify against Holmes. Jury selection in the criminal fraud trial of Elizabeth Holmes starts on Tuesday, the beginning of a highly anticipated legal showdown over one of the most spectacular Silicon Valley scandals in recent history.įederal prosecutors have charged Holmes and her former business partner and ex-boyfriend, Ramesh "Sunny" Balwani, with defrauding investors and patients of their blood-testing company Theranos, which Holmes and Balwani claimed would revolutionize laboratory medicine. Elizabeth Holmes walks into the United States Federal Courthouse in San Jose, Calif., Tuesday, Aug.