The Elizabeth Holmes trial: She may well walk
After 15 long weeks, 32 witnesses, uncountable delays, and two full days of closing arguments, the criminal-fraud trial of Elizabeth Holmes is finally over, and the jury of eight men and four women has begun its deliberations. And based on the summations by both sides on Thursday and Friday, I'm feeling exactly the way the defense wants the jurors to feel: confused.
Schenk reviewed by name each of the government's witnesses in the case, reviewing their testimony to remind jurors of Holmes's multiple and flagrant misdeeds. He quoted a letter she wrote to the Defense Department that claimed"each Theranos device can run every test currently available in a traditional lab." This, Schenk pointed out, was the same thing Holmes told investors. And she knew it wasn't true.
Downey was surprisingly effective in knocking down three of the government's primary arguments. First, he tackled the evidence that Holmes had knowingly distributed faulty financial projections that wildly overestimated the company's making-money potential. To hear Downey tell it, the faulty numbers were all just a big mix-up between projected revenues and deferred revenues. His argument was almost impossible to follow, which seemed to be the point.
Over and over, Downey cited instances when Theranos employees told Holmes that things were going well, enabling him to make the case she that everything was hunky-dory. She didn't really know the details about the company's finances and partnerships and the like — she was focused on the tech, and the tech seemed promising."Ms.
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