THE jury in the trial against former Theranos CEO Elizabeth Holmes has entered its second week of deliberations.
In March 2018, the US Securities and Exchange Commission charged Holmes and Theranos’s former president, Ramesh Balwani, with fraud by taking more than $700million from investors while advertising a false product.
Theranos, a Silicon Valley biotech company, was once valued at $10billion and claimed to have created groundbreaking medical testing equipment.
The diagnostics company promised faster and cheaper results than traditional labs, running an analytical gamut with a few drops of blood.
However, after years of hype and billions of dollars later, the miracle machines allegedly did not work.
Prosecutors alleged Holmes tricked investors into funding Theranos Inc.
It is alleged Holmes knew it yet continued to lie to investors, doctors and patients so she could raise more than $700million.
Holmes’ lawyer Kevin Downey told the judge his client always “acted in good faith and was propelled by ambition and optimism.”
Downey said Holmes “believed she was building a technology that would change the world.”
The jury deliberated for three days last week before being dismissed Thursday afternoon for the holiday weekend.
If convicted, Holmes could face up to 20 years in federal prison.
Read our Elizabeth Holmes live blog for the very latest news and updates…
Where is the trial taking place?
Elizabeth Holmes’ trial is happening in San Jose, California.
Jurors left the federal courthouse on Tuesday afternoon after the fifth day of deliberations.
Quiet deliberations
The jury was quiet during deliberations on Tuesday.
They made no requests to the judge as they reached 36 hours of deliberations.
Wednesday will mark day six in their work to reach a verdict.
Jurors dismissed for the day
The jury in the Elizabeth Holmes trial has been dismissed for the day.
Deliberations will continue at 8.30am PT on Wednesday.
Who is Erika Cheung, continued
The whistleblower reported her concerns to Ramesh “Sunny” Balwani, then-chief of Theranos, Inc and former boyfriend to Holmes.
She also alerted a member of Theranos’ board of directors, according to Forbes, but found them to be unreceptive to her concerns.
She resigned from her position and eventually shared information with a Wall Street Journal reporter and federal lab regulators, Forbes reported.
Who is Erika Cheung?
Erika Cheung is a whistleblower who worked as a lab associate at Theranos.
Her testimony at Elizabeth Holmes’ trial included allegations that Theranos’ blood-testing machines weren’t reliable for use on patients and could never handle close to the number of tests Theranos claimed they could.
She also testified that “the practice of scrapping so-called outlier data to overcome quality-control failures happened frequently during her time at the company,” Forbes reported.
What led to the charges against Holmes?
Theranos was valued at $9billion in mid-2014 while Holmes was the company’s controlling shareholder.
In 2015 and 2016, articles by The Wall Street Journal and regulatory audits revealed serious concerns with the Theranos technology, the AP reported.
Jurors asked to hear audio again
An initial request by jurors during deliberations included hearing a playback of audio recordings of Holmes.
The audio, which was recorded without Holmes’ knowledge, included her bragging about partnerships that never materialized, including with drug companies and the US military.
Holmes returned to the courtroom on Thursday and intently watched jurors’ reactions as they re-listened to the clip, The Associated Press reported.
Does Theranos still operate?
The company ceased operations in 2018, after its founder, Elizabeth Holmes, was indicted for wire fraud and conspiracy.
Theranos was founded in 2003, and its peak value was $10billion.
The company’s slogan was: “One tiny drop changes everything.”
Second week of deliberations
The jury began its second week of deliberations on Monday, December 27.
Before adjourning on December 22, the jurors deliberated for three days.
Jury selection for Holmes‘ trial — in San Jose, California — began on August 31.
Prosecutors previously had to delay the trial after her lawyers told the government she was pregnant on March 2 and requested that the judge postpone jury selection.
Why is Elizabeth Holmes on trial? continued
The case centers on diagnostics company Theranos, which promised results that were faster and cheaper than traditional labs, running an analytical gamut with a few drops of blood.
However, after years of hype, and billions of dollars later, the miracle machines allegedly did not work.
It is alleged Holmes knew it, yet continued to lie to investors, doctors and patients so she could raise more than $700 million.
Why is Elizabeth Holmes on trial?
Elizabeth Holmes has denied nine charges of wire fraud and two of conspiracy to commit wire fraud.
If she is found guilty, she could face up to 20 years behind bars.
Prosecutors have alleged she tricked investors into funding her company Theranos Inc.
Does Theranos still operate?
The company ceased operations in 2018, after its founder, Elizabeth Holmes, was indicted for wire fraud and conspiracy.
Theranos was founded in 2003, and its peak value was $10billion.
The company’s slogan was: “One tiny drop changes everything.”
Elizabeth Holmes’ fear of needles
The former Theranos founder claimed that her fear of needles inspired her to develop a system that would be able to test on just a drop or two of blood.
It has been reported that Holmes’ mother and grandmother also did not take well to needles, as they fainted at just the sight of them.
Once dubbed as the next Steve Jobs
The 37-year-old was once seen as a rising star in Silicon Valley, which led to comparisons to Apple’s Steve Jobs.
Holmes fueled that idea by dressing almost entirely in black turtleneck sweaters.
What did the defense say?
Elizabeth Holmes’ lawyer Kevin Downey told the judge his client always “acted in good faith and was propelled by ambition and optimism.”
Downey defended his client’s intentions, saying Holmes “believed she was building a technology that would change the world.”
Where did Holmes work during college?
During Holmes’ time in college, she also worked at a laboratory at the Genome Institute of Singapore.
Here she tested for severe acute respiratory syndrome coronavirus (SARS-CoV-1) through the collection of blood samples with syringes.
Holmes had founded the blood-testing company in 2003 at the age of just 19.
She pitched its technology as a cheaper way to run dozens of blood tests with just a prick of a finger and a few droplets of blood.
What is the jury makeup?
Eight men and four women make up the jury in Elizabeth Holmes’ trial.
Ramesh “Sunny” Balwani also going on trial
Balwani, 56, is set to go on trial for fraud next year and previously has claimed he’s innocent of any allegations of abuse.
Elizabeth Holmes’ attorney Lance Wade shifted the blame on her ex-boyfriend.
“You will learn that Mr. Balwani did not take well to people who disagreed with him,” Wade said and blamed Balwani’s erratic behavior as the reason so many Theranos employees headed for the exit.
It was Balwani, Wade claimed, who was directly responsible for overseeing the Theranos lab that federal prosecutors claim spun misleading results of blood tests that put people’s lives in harm’s way.
“If what the government is trying to show is that Theranos’ clinical lab was not well run from 2013 to 2016, we will likely agree with what they have to say,” Wade stated.
Elizabeth Holmes accuses ex of abuse
Elizabeth Holmes accused her ex-boyfriend of sexual and emotional abuse as she stands trial for defrauding patients and investors.
Holmes and former Theranos President Ramesh “Sunny” Balwani, 56, allegedly scammed $700million out of investors.
The magnate now faces up to 20 years in prison and a fine of up to $3million if convicted – but unsealed legal filings in her case reveal she planned to defend herself by arguing that her ex-boyfriend emotionally and sexually abused her, impairing her state of mind at the time of the alleged crimes, reported NPR.
The 37-year-old has pinned the blame on her former partner Balwani.
When did the trial begin?
The trial has so far taken four months, with 32 witnesses taking the stand.
Closing arguments wrapped up on December 17, and the jury has been deliberating for more than 24 hours.
The trial began in September.
How long could Elizabeth Holmes face behind bars?
If convicted, Elizabeth Holmes could face up to twenty years in federal prison.
Prosecutors alleged Holmes tricked investors into funding Theranos Inc.
It is alleged Holmes knew it yet continued to lie to investors, doctors and patients so she could raise more than $700million.
Elizabeth Holmes pictured entering courthouse
NBC reported Scott Budman tweeted a photo of the former Theranos chief entering the courthouse.
The jury in Holmes’ trial has entered its fifth day of deliberations.
Requests from the jury
So far, the jury sent two notes with questions for the judge, as they deliberate.
One member asked the judge if they could take the jury instructions home. The judge denied the request.
In the second note, the jury asked to listen to recorded phone calls between Holmes and investors in Theranos.
Does Elizabeth Holmes have any children?
Elizabeth Holmes and Billy Evans share a son, William Holmes Evans.
Their son was born on July 10 in Redwood City, California, according to birth records obtained by ABC News.
How long has Elizabeth Holmes been married?
Sources told Vanity Fair that Elizabeth Holmes and Billy Evans had a secret wedding in 2019.
News of the secret wedding came months after Bilton reported Holmes, 35, was engaged and living in San Francisco.
It was later revealed that Holmes’ fiancé was Evans. The couple met at a party in 2017, according to Elle, and were spotted attending Burning Man together in August 2018, days before Theranos shut down fully.
Holmes wears Evans’ signet ring from his alma mater MIT on a chain around her neck, according to the New York Post.