Elizabeth Holmes trial draws to a close as pleadings wrap up

On Thursday, Jeff Schenk, a Deputy U.S. Attorney and one of the top prosecutors, summed up the government’s case simply: When Theranos was nearly strapped for cash, Ms. Holmes could have let it fail. But instead she chose to defraud investors, he said.

“This choice was not only insensitive, it was criminal,” said Mr. Schenk.

Ms Holmes’ attorneys responded with a series of responses: Her colleagues told her the technology worked, she withheld information to protect trade secrets, she took action to resolve issues once she got it. had knowledge, and the larger account of Theranos was more complicated than the prosecution had led it to believe.

“The government is showing an event that looks bad, but at the end of the day when all the evidence accumulates, it’s not that bad,” Mr. Downey said. He showed slides illustrating the government’s heavy burden to prove ‘beyond a reasonable doubt’ that Ms Holmes knowingly lied to get money.

Ms Holmes’ defense relied primarily on her own testimony, which lasted seven days and turned the narrative of the case upside down. This was the first time Ms Holmes had recounted her version of the events leading up to Theranos’ collapse, which has been widely documented in podcasts, books, documentaries and reports.

At the booth, Ms. Holmes introduced herself as a hardworking and ambitious entrepreneur who believed in the technology and the potential of her business. Any exaggerations or misleading statements were just her big plans for the future, she hinted.

She added that Ramesh Balwani, her former boyfriend and longtime business partner known as Sunny, had berated her and controlled every aspect of her life. She also accused him of sexual abuse, which he denied. Their relationship had been kept a secret at the time.

But in court, all aspects of the relationship – texts, emails, conversations, infidelities and the limited liability company through which they owned a home – were separated. Prosecutors have tried to show that the couple conspired to commit fraud. Ms Holmes’ attorneys have attempted to show she was a victim.

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