Elizabeth Holmes, the founder and CEO of the disgraced blood testing company Theranos, is on trial on 12 charges of wire fraud and conspiracy to commit wire fraud. The process is expected to take until December.
Theranos was valued at up to $ 9 billion, and Holmes was a Silicon Valley darling, wearing black turtlenecks that led to comparisons to Steve Jobs. That is, until John Carreyrou’s exposé was published in the Wall Street Journal. In that article, Carreyrou wrote that Theranos only used his own device for a handful of tests and that other staff were concerned that the device was not accurate.
Then it turned out that Theranos labs were out of date and its partnerships with Safeway and Walgreens broke up. In addition, Theranos has discarded the test results from two years. Eventually, Holmes was banned from running laboratories and Theranos disbanded in 2018. The question now arises whether Holmes deliberately misled patients and investors.