The jury will weigh 11 charges of fraud and conspiracy against former Theranos chief Elizabeth Holmes after a three-month trial that captivated Silicon Valley.
The jury that will weigh 11 charges of fraud and conspiracy against former Theranos Chief Executive Elizabeth Holmes finally got the case Friday afternoon after a three-month trial that captivated Silicon Valley.
In his final attempt to persuade the jury to acquit, Holmes lawyer Kevin Downey likened her final days running a then-reeling Theranos to a captain valiantly trying to save a sinking ship.Had Holmes committed any crimes, she would have been scurrying to jump overboard like a scared rat, her lawyer, Kevin Downey, told jurors as he wrapped up roughly five hours of closing arguments.
The concept was so compelling, Theranos and Holmes were able to raise more than $900 million from billionaire investors such as media magnate Rupert Murdoch and software titan Larry Ellison. The Palo Alto company also negotiated potentially lucrative deals with major retailers Walgreens and Safeway, and Holmes quickly began to grace the covers of national magazines as a wunderkind.
“People lost money,” Downey acknowledged Friday. “That is a bad event and a failure on part.” But, he added, none of it was criminal.
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