The months-long trial of Elizabeth Holmes, the disgraced founder of blood-testing company Theranos, is finally in its wrapping up stages, with closing arguments from the defense continuing on Friday.
Holmes is facing 11 fraud charges and is facing up to 20 years in prison.
Holmes' defense attorney Kevin Downey has so far been reviewing communications between Holmes and Theranos investors, using emails to argue that Holmes wasn’t deliberately trying to commit fraud.
Holmes allegedly raised some $945 million from investors when her company seemed at its height of success, despite the fact that the devices the company touted didn’t actually work. The company itself was at one point valued at $9 billion.
The defense has argued so far that Holmes legitimately believed her company’s blood testing devices worked.
Downey has especially focused on how enthusiastic investors were to get on board once it was publicly announced that the company had brokered a deal with Walgreens, with the drug store chain planning to carry Theranos blood-testing devices in stores.
Federal prosecutors then will have an opportunity to deliver their rebuttal following the defense.
After that, the judge will issue instructions for the jury, and the jury will begin deliberations
Related
