A date has been set for the trial of Theranos' founder, Elizabeth Holmes, 35, who can receive up to 20 years in prison and millions of dollars in fines for fraud.
The American court Edward Davila has Friday the criminal proceedings for Holmes and her former deputy and ex-boyfriend Ramesh & # 39; Sunny & # 39; Balwani, 54, scheduled for August 4 of next year, with a selection from the jury that started the week before.
The two will be tried in the federal court on charges of lying to doctors and patients about test results and misleading investors about the finances of the now defunct start of the Silicon Valley blood test.
The test is expected to last three months.
Theranos founder Elizabeth Holmes, 35, will stand trial on charges of fraud next summer. She is depicted at Robert F. Peckham's US Federal Court on June 28 in San Jose, California
Holmes & former delegate and former friend, Ramesh & # 39; Sunny & # 39; Balwani, 54, left the federal court on June 28 after a judge ordered their trial date
Holmes faces decades in prison for cheating investors and cheating doctors and patients. She was pictured at the court on the day her trial was planned (left) and in 2015 (right), when she was the CEO of one of the most buzz-like companies in Silicon Valley
Holmes and Balwani were sued by a grand jury last June for 11 points of wire fraud and conspiracy to commit wire fraud.
Theranos, founded in 2003 by then 19-year-old Stanford retired Holmes, raised more than $ 700 million from private investors in the market referred to by the Securities and Exchange Commission as a & # 39; extensive, long-term fraud involving made exaggerated or false statements about the technology, company and financial performance of the company & # 39 ;.
Prosecutors say that Holmes and Balwani, who had once had a relationship despite an age difference of 19, claimed that their revolutionary & # 39; Edison & # 39; machine could offer patients a comprehensive, accurate and inexpensive blood test by just one drop to analyze blood.
In reality, technology was years away from that – the machines, on the other hand, had accuracy and reliability problems and carried out limited tests.
The FBI has claimed that Holmes and Balwani have threatened health and life.
The indictment also shows the couple's schedule to keep investors from hundreds of millions of dollars.
Theranos, once one of the most buzz-like companies in Silicon Valley and valued at $ 9 billion, went bankrupt after being claimed to be false.
It was closed by the SEC at the end of 2018.
Theranos & # 39; pioneering invention, a machine that Holmes claimed to be able to perform hundreds of tests on a drop of blood from a pin-pin finger, was exposed as a humiliating sham
Holmes is apparently married to William & # 39; Billy & # 39; Evans, the heir of a hotel fortune who worked for the car without driver Luminar Technologies (Holmes and Evans with Balto the husky)
Prosecutors said they have already provided more than two million pages of evidence to the defense teams and that more will follow, the Wall Street Journal reported.
Despite abundant evidence, Holmes, who was named by Forbes in 2014 as the youngest self-made female billionaire, maintained her innocence and made a plea for all counts.
Her legal team plans to claim that Wall Street Journal's John Carreyrou, whose reporting led to the collapse of the company, & # 39; had an inappropriate impact on federal regulators & # 39; and & # 39; went beyond reporting the story of Theranos & # 39 ;. Bloomberg reported.
The 2015 scoop and subsequent stories from the reporter showed that Theranos was a threat to public health and won several journalistic prizes.
& # 39; The jury should be aware that an external actor, who would like to break a story and display the story as a work of investigative journalism, has influenced the regulatory process in a way that the agencies focus on it. company seems to have skewed. and possibly influenced by the agency's findings, & # 39; wrote Holmes' lawyer, per Bloomberg.
Her defense team has also continued to discuss what information should be made available because they say they don't have fair access to documents.
The story of Holmes' rapid rise and fall was the subject of a bestseller from Carreyrou, & # 39; Bad Blood & # 39 ;, and an HBO documentary entitled & # 39; The Inventor: Out for Blood in Silicon Valley & # 39 ;
It demonstrated her disturbing ability to coolly cheat some of America's richest and most intelligent people and revealed a personality cult around Holmes.
She cultivated herself as the charismatic leader with her preference for Steve Jobs-style black turtle necks and a creepy baritone voice.
A Hollywood production with Jennifer Lawrence as Elizabeth Holmes is reportedly in the making.
Despite the fact that he was imprisoned for up to 20 years, Holmes is said to marry in secret.
The 35-year-old alleged scammer recently got linked to her hotel heir fiance William & # 39; Billy & # 39; Evans, 27, according to a friend of his.
His image-conscious parents were stunned by their son's engagement with Holmes at the start of the year, according to The New York Post.
& # 39; His family is like, "What are you doing?" It's like he's brainwashed. & # 39; a colleague told the paper.
A relationship with Holmes & # 39; will destroy your social value, & # 39; the colleague added. & # 39; But you get something else in return & # 39; – namely fame.
Evans, for his part, reportedly told his friends: & # 39; The media is completely wrong with her. & # 39;
It is unclear what will happen to the love birds when Holmes is sent to prison.
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