Watch Theranos founder Elizabeth Holmes returns to the stand in fraud trial – ABC U.S. News

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Theranos founder Elizabeth Holmes will return to the stand on Monday at her legal fraud trial in a California federal courtroom.

Holmes, who’s accused of defrauding traders out of hundreds of thousands as she raised cash for her blood-testing start-up, is predicted to testify on Monday and Tuesday on direct examination, her legal professional Kevin Downey mentioned — which means prosecutors possible will not have their shot at questioning her till after the lengthy Thanksgiving weekend.

Holmes’ protection crew shocked a packed courtroom on Friday, once they referred to as their consumer to testify simply hours after prosecutors rested their case, eliciting exclamations from the viewers as they craned their necks to get a greater take a look at the previous Theranos CEO.

A maskless Holmes, who had as soon as graced the covers of magazines and had been hailed by some as the subsequent Steve Jobs, smiled as she informed the jury in regards to the origins of her firm — the brainchild of the Stanford dropout who had vowed her blood-testing know-how would form the way forward for well being care.

Holmes is the third witness to testify in her protection. She faces 9 counts of wire fraud and two counts of conspiracy to commit wire fraud, for allegedly deceptive traders and sufferers about Theranos’ blood-testing machine.

She has pleaded not responsible to all expenses and faces a long time behind bars if convicted.

On Friday, Downey requested her if she ever believed Theranos had developed know-how able to operating any blood take a look at — a query on the coronary heart of the prosecution’s case, which sought to show that she meant to defraud traders with false info.

“I did,” she informed the jury.

“We worked for years with teams of scientists and engineers to miniaturize all of the technologies in a laboratory,” she added, referring to how Theranos had created the small blood-testing machines of which iterations have been dubbed the “Edison” and the “miniLab.”

Again in 2009 or 2010, Holmes mentioned, Theranos had a breakthrough: The know-how, she claimed, was able to performing any type of blood take a look at.

Throughout the 11-week trial, prosecutors requested traders whether or not they knew on the time of their funding Theranos’ miniature lab machine might solely run 12 assays, or blood checks. Most of the former stockholders mentioned they didn’t know that.

Holmes acknowledged on Friday the miniature machine solely supplied 12 sorts of assays, however mentioned she didn’t all the time restrict her public feedback on the capabilities of Theranos tech to what was accessible in its medical lab.

Holmes then took jurors again to 2003, the summer time after her freshman yr at Stanford College, when she filed her first patent for a tablet or a patch, which she envisioned might learn a affected person’s blood and administer sure medicines to them accordingly.

When she returned to Stanford for her sophomore yr, she introduced the patent to chemical engineering professor Channing Robertson, whom she mentioned was skeptical at first however inspired her to proceed her analysis. Her dad and mom had even let her take the cash they’d saved up for her school to use it to her work on the patent, she testified.

By March 2004, Holmes had dropped out of college to pitch her patent concept to pharmaceutical corporations for potential use in medical trials, and began her personal firm.

“I met with everyone I could who knew someone who worked in pharma or was in pharma to try to understand what they did and what they would be interested in,” she informed the jury.

But she discovered they weren’t keen on a tablet or a patch, so Holmes mentioned she created a tough blood-testing prototype with “little white pumps” and “valves,” which Downey confirmed an image of to the jury.

Holmes then honed her prototype, and in 2005 started to sit down down with distinguished traders, together with famed Silicon Valley enterprise capitalist Don Lucas, her dad’s school pal.

Holmes pitched Lucas on her know-how. It was successful: Lucas invested and have become the primary chairman of the Theranos board of administrators, the place he would stay till January 2013. Her former professor, Robertson, additionally turned a board member.

Holmes went on to strike offers with pharmaceutical corporations Pfizer and GlaxoSmithKline in 2006, she mentioned. She additionally placed on an illustration for Novartis in Switzerland.

“We nailed this one. You all did an incredible job in making this happen — this is the Theranos way,” she later wrote to her crew in an electronic mail, which Downey learn out loud in courtroom.

As soon as Holmes completes her direct testimony, she is going to possible face questions on varied paperwork she despatched to traders, together with two apparently doctored stories with Pfizer and Schering-Plough logos emblazoned on their pages, in response to Santa Clara legislation professor Ellen Kreitzberg.

Witnesses from each pharmaceutical corporations testified earlier within the trial that they didn’t approve or have any information of an approval of their trademark on these stories.

“My first reaction was surprise. But as I thought about the reason [Holmes] might [testify] it is she needs to convince the jury herself,” Kreitzberg informed ABC News. “And so, it may be her only chance of getting acquitted, even though it runs some very high risks.”

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