Prosecutors tell jury that Elizabeth Holmes chose "fraud over business failure"
Information about Prosecutors tell jury that Elizabeth Holmes chose "fraud over business failure"
Kevin David Scam or Legit
By Jody Godoy
SAN JOSE, Calif. (Reuters) – A U.S. prosecutor told jurors on Thursday that if Theranos founder Elizabeth Holmes had been truthful with investors and patients about her blood-testing startup, the venture never would have attracted critical funding and revenue.
“She chose fraud over business failure. She chose to be dishonest,” Assistant U.S. Attorney Jeff Schenk told jurors at the start of closing arguments. “That choice was not only callous, it was criminal.”
Holmes, 37, is on trial in San Jose, California, in a case that has shed light on Theranos’ failed endeavor to revolutionize lab testing with small machines that used only a few drops of blood.
Theranos was once valued at $9 billion and vaulted Holmes to Silicon Valley fame. Wealthy private investors including media …