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Theranos founder Elizabeth Holmes’ fraud trial has a new start date
COVID-19 pandemic delays Theranos founder Elizabeth Holmes’ fraud trial
The long-awaited criminal fraud trial of Theranos founder Elizabeth Holmes finally has a start date. The disgraced former Silicon Valley wunderkind will appear before a jury in March of next year, US District Judge Edward Davila announced on Tuesday, to face charges that she and ex-Theranos president Ramesh “Sunny” Balwani are accused of peddling bogus …
The long-awaited criminal fraud trial of Theranos founder Elizabeth Holmes finally has a start date.
The disgraced former Silicon Valley wunderkind will appear before a jury in March of next year, US District Judge Edward Davila announced on Tuesday, to face charges that she and ex-Theranos president Ramesh “Sunny” Balwani are accused of peddling bogus blood tests with devices that they promoted as revolutionary but knew were unreliable and inaccurate.
Davila agreed to delay the trial, which was initially scheduled for October, after Holmes’ lawyers argued that going to court during the pandemic would be dangerous.
“I wish you good health and I know we’ll be seeing each other again soon,” Davila said at the end of a 30-minute Zoom hearing, according to CNBC.
Prosecutors for the Justice Department had countered that time is of the essence, and that the government is “ready to go.”
“It’s important to this case that it goes expeditiously,” Assistant US Attorney Robert Leach said last month. “The fraud here is in the hundreds of millions of dollars.”
The trial has the potential to be a high-profile affair with plenty of star power on the witness stand, including former Secretary of State Henry Kissinger and former Defense Secretary James Mattis, both of whom were board members, according to court filings.
The duo each faces a maximum of 20 years in prison as well as a $250,000 fine on 12 counts of wire fraud and conspiracy.
