Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Presidium: We have a very urgent resolution, and if general principles and details approved, it will be discussed in public session.
Spokesperson of Presidium: Guardian Council members will attend Parliament tomorrow during discussions for resolution on NPT withdrawal.
Iran's parliamentary presidium: We will look today into parliamentary National Security Committee's recommendations on withdrawal from NPT.
Ukrainian media: Fire in Ukrainian government building in Kiev.
Trump signs executive order on changing name of Department of Defense to Department of War
Syrian media: A car bomb detonated in Al Mashhad Street in Aleppo, potential casualties reported
Lebanese government: The army will act within the framework of the relevant decision during the August 5 session, but it has the right to exercise operational discretion
Lebanese government: The Army Commander outlined the restrictions related to the implementation of the plan, the first of which is Israeli attacks
Lebanese government: The Lebanese Army will begin implementing the plan under the available capabilities
Lebanese government: Any progress in implementing the US envoy's paper is contingent on the Israeli side's commitment

Theranos founder takes witness stand in fraud trial

  • By Al Mayadeen Net
  • Source: Agencies
  • 18 Dec 2021 12:34
3 Min Read

Deliberations are ongoing to decide the fate of Elizabeth Holmes, who is accused of fraud as a result of lying about her blood-testing start-up Theranos to patients and investors.

  • x
  • Elizabeth Holmes heads to court with her parents and partner (Getty Images)
    Elizabeth Holmes heads to court with her parents and partner (Getty Images)

A jury has begun deliberations in the trial of Elizabeth Holmes, who is accused of lying about her blood-testing start-up Theranos to patients and investors. 

Theranos falsely said it could detect diseases with a few drops of blood knowingly misleading investors, doctors, and patients about her startup's blood testing capabilities in order to take their money.

The prosecution argued that Ms. Holmes lied when her "house of cards" faced financial failure.

Elizabeth Holmes had confessed to the jury in her criminal fraud trial on Tuesday that she personally used the letterhead of Pfizer and Schering-Plough on documents sent to potential business partners and investors without the two companies' knowledge or consent.

Her step came to give the impression that the pharmaceutical companies were endorsing Theranos devices, when in fact they had distanced themselves from the startup.

By doing so, "she chose fraud over business failure. She chose to be dishonest with investors and with patients," prosecutor Jeffrey Schenk said in his closing remarks at the San Jose federal court where the trial has been underway for more than three months. "That choice was not only callous, it was criminal," he added.

Holmes said she had to intention to deceive anyone but was merely attempting to acknowledge other work Theranos had done with the relevant pharma companies.

Related News

Elizabeth Holmes’ 11-year prison sentence shortened by two years

Theranos' Elizabeth Holmes tried to escape to Mexico before conviction

Still, it was a mistake, she admitted.

"I wish I'd done it differently," said Holmes, speaking behind a plexiglass-enclosed witness box.

Ms. Holmes, 37, is facing nine counts of wire fraud and two counts of conspiracy, with each carrying a maximum sentence of 20 years in prison.

The jury comprising eight men and four women at the court in San Jose, California, will resume deliberations on Monday after being handed the case on Friday afternoon.

For years, Holmes claimed that with a tiny finger prick of blood, people would have more control over their health by allowing them to test for hundreds of conditions; an option made possible by Thoranos. 

Ms. Holmes was able to raise more than $900m from billionaires such as media magnate Rupert Murdoch and tech mogul Larry Ellison.

In 2014, the company was estimated to be worth $9 billion, more than the value of Uber and Spotify at the time.

But not long after, regulators and the media began asking probing questions about the efficacy of the technology, setting the company's downfall.

  • Theranos
  • Pfizer
  • Elizabeth Holmes

Most Read

Al Mayadeen English

Hezbollah’s weapons and the lessons of Syria, PLO, and Algeria

  • Politics
  • 2 Sep 2025
This Jan. 31, 2019 file photo, shows an oil platform in the Leviathan natural gas field, in the Mediterranean Sea off the Palestinian coast. (AP)

Netanyahu freezes $35 bln gas deal with Egypt over troops in Sinai

  • Politics
  • 2 Sep 2025
The Coming War On Iran Will Be Regional, Perhaps International

The coming war on Iran will be regional, perhaps international

  • Opinion
  • 2 Sep 2025
ap

Germany blocks EU push to sanction 'Israel' over war on Gaza

  • Politics
  • 31 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People hold Palestinian flags as they bid farewell to activists setting sail on their boats to join a civilian flotilla bound for Gaza to break the Israeli blockade and deliver humanitarian aid, in Barcelona, Spain, on Sunday, August 31, 2025 (AP)
Politics

Maghreb Sumud Flotilla delays Tunisia-Gaza departure to September 10

x
Arts and Culture

‘The Voice of Hind Rajab’ wins Silver Lion at Venice Film Festival

Displaced Palestinians fleeing northern Gaza carry their belongings along the coastal road toward southern Gaza, Saturday, September 6, 2025 (AP)
Politics

62 Palestinians killed in Israeli strikes on Gaza since dawn

A relative carries the body of Palestinian infant Jabr Al-Ashhab, who was killed in an Israeli military strike, during his funeral outside Shifa Hospital in Gaza City, Thursday, Sept. 4, 2025. (AP)
Politics

Over 20,000 children killed by 'Israel' in Gaza: Save the Children

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS