Theranos founder and well known con artist, Elizabeth Holmes, is being held on trial after years of avoiding face in public and judicial servings. The defunct blood testing firm she owned was worth over 9bn USD. She is currently facing around 12 fraud charges, including some that could put her in serious jail time.
The company that focused on health technologies was posed to bring blood testing innovations. Where you can take miniscule droplets of blood and get the best test results as possible. This didn’t work the way it was described by the company, including, and especially, it’s CEO. A good number of the test results came out inconclusive and had affected various patients, giving them wrongful diagnosis.
Accusations came out of fraudulence and so, after investigations and public humiliation, the company from 9bn to 0 worth in just a short span of time. The blame went to Elizabeth Holmes. Both Holmes and her then business partner, Ramesh Balwani were claimed to have lied about test results. Even claiming that they were vetted by big pharmas like Pfizers and that their tech were used by the U.S. Military.
The Health Fraudulence Of The Century
Many journalists came in and surrounded Holmes and her legal team out of court proceedings. The prosecution are going to be brutal against her, for both libel, conspiracy and fraudulence. She could be put in jail for 20 years, or over, should the prosecution win. Balwani will be tried on court at a much later date.
Holmes have stated that in her defense, she was naive about the circumstances around her business and that she underestimate the obstacles she had been facing during that time. She is willing to take the witness stand and testify about her mental state at the time and how she was emotionally abused by Balwani. About both their relationship and the business. Of which these accusations he has completely denied ever happening.