Fallen Silicon Valley star Elizabeth Holmes convinced media mogul Rupert Murdoch and other billionaires to invest in her biotechnology startup, despite warnings its unconventional blood tests were dangerously unreliable, presented Tuesday during her criminal trial. According to the evidence.
The revelations came during the eighth day of a high-profile trial that revolved around allegations that Holmes defrauded investors, customers and unintentional patients as CEO of Theranos, a company he founded after leaving college in 2003. was given when she was 19 years old.
Holmes briefly became a Silicon Valley sensation while he invented a breakthrough technology scanning for a range of health problems using a few drops of blood taken from the prick of a finger.
But Adam Rosendorff, the medical doctor who oversaw Theranos’ clinical laboratory from September 2013 to November 2014, drew a darker picture Tuesday as federal government prosecutors tried to persuade a jury to indict Holmes on 12 counts of fraud. Were were
Holmes, 37, has spent nearly 15 years of his life chasing a great idea, pleading for acquittal, which just didn’t happen. If found guilty, he could face 20 years in prison.
Rosendorff insisted that he tried repeatedly to warn Holmes and Theranos’ chief operating officer and Holmes’ ex-boyfriend, Ramesh “Sunny” Balwani, that the tests were so grossly inaccurate that he was surrounded by complaints from doctors. was taken.
But according to Rosendorf, Holmes and Balvani were more interested in developing Theranos’ image as a potentially game-changing company than in protecting people’s health.
“The number and severity of the problems had reached a climax,” Rosendorf testified in a San Jose California, courtroom, explaining that he instead risked breaking his oath to do “no harm” as a doctor. Why did Theranos decide to leave? He said he was so frightened that he refused to move Balvani’s outstretched hand when he left Theranos.
Prosecutors also displayed a series of text messages exchanged between Holmes and Balwani, attempting to prove that they were more interested in pursuing fame and fortune than in protecting people’s health. .
At the same time that Rosendorf was raising objections about Theranos’ blood-testing technology, Holmes texted Balvani to tell him that he had completed deals to receive about $150 million from Murdoch and the Walton family behind Walmart. .
“They are not investing in our company,” Balwani texted back. “They are investing in our fortune.”
Those investments valued the privately held Theranos at $9 billion, with Holmes holding a $4.5 billion stake.
Just weeks after leaving Theranos in protest against Rosendorf, Holmes texted Balvani in December 2014 to share his optimism about the upcoming new year.
Holmes wrote to Balwani, “This year is our year. We can never forget that tiger.”
Holmes, who is now married to a different man, has accused Balvani of “intimate partner abuse” that influenced some of her actions and statements while running Theranos. Balwani’s lawyer has vehemently denied those allegations. Balwani is also facing charges of fraud in a separate trial starting next year.
However, the year 2015 proved to be the beginning of the end for Theranos.
In October of the same year, The Wall Street Journal published a series of explosive articles exposing the flaws in Theranos’ technology and launching a government investigation that led to the company’s collapse and the current trial. Rosendorff testified that he was among the sources that provided information for those articles.
The Wall Street Journal is owned by Murdoch, who is on the government’s list of witnesses to testify during a trial scheduled to continue through mid-December.
One of Holmes’ attorneys, Lance Wade, attempted to pierce Rosendorff’s testimony by pointing to several meetings he had with federal prosecutors and other government officials before taking the stand. Wade noted some discrepancies between Rosendorff’s statements during the trial and other sworn testimony given in other civil lawsuits brought against Theranos.
“I made a sincere effort to meet my obligations as a laboratory director,” Rosendorff said, while Wade questioned his motives.
Rosendorff is due to return as a witness on Wednesday when the trial resumes.
Credit: www.independent.co.uk / Elizabeth Holmes