Holmes’ rise and fall from charismatic young female startup founder to convicted felon spawned a best-selling book, Hollywood movie and a now a TV series starring Amanda Seyfried. Although Ba…
Although Elizabeth Holmes was absent from the San Jose courtroom where her ex-boyfriend and Theranos’ former chief operating officer Ramesh “Sunny” Balwani’s felony-fraud trial started Tuesday — and where she spent many months on her way to her January fraud conviction — the founder of the failed blood-testing startup played a central role in the prosecution’s opening argument.
Balwani, 56, wearing a charcoal suit in U.S. District Court, is charged with a dozen counts related to the downfall of Palo Alto-based Theranos, founded by Holmes in 2003 when she was a 19-year-old Stanford University dropout. When Balwani’s lawyer, Steve Cazares, took his turn for an opening statement, he addressed the fact that jurors said during jury selection that they had heard of the case, and of Holmes. “The headlines and the sensational stories about Theranos and Elizabeth Holmes have no place in this trial,” Cazares warned.
Holmes four-count conviction included one count for conspiring with Balwani to defraud investors. He and Holmes were indicted together in 2018, but at Balwani’s request, Judge Edward Davila separated their trials in March 2020.
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