- December 17, 2021
- Posted by: Stratford Team
- Category: Business
SAN JOSE, Calif. — Was Elizabeth Holmes a liar or just naive? That’s the ultimate question posed to jurors as prosecution and defense delivered their closing arguments Thursday after 15 weeks of the closely watched trial of Holmes, the founder and former CEO of Theranos.
Prosecutors have argued that Holmes, “out of time and out of money,” decided to lie to investors in her blood-testing startup to keep the cash flowing and to keep pushing the development of her unrealized technology.
If Holmes had told investors, patients and business partners the truth about her company, she never would have attracted any revenue, Assistant U.S. Attorney Jeff Schenk told the jurors.
“She chose fraud over business failure. She chose to be dishonest,” Schenk said. “That choice was not only callous, it was criminal.”
“She chose fraud over business failure. She chose to be dishonest,” the prosecution said.
Holmes, 37, watched attentively from the courtroom benches…
