Elizabeth Holmes says she gave the reporter incorrect information


Former Theranos CEO Elizabeth Holmes spoke for the sixth day on Tuesday as her fraud trial continues. Holmes continued to deny misleading investors, but admitted on Tuesday that the information she gave a reporter for a major story in 2014 was incorrect. John Angelillo / UPI file photo | License photo

December 7 (UPI) – Elizabeth Holmes said she misled a reporter in 2014 about her company Theranos when she returned to the witness stand on Tuesday in her fraud trial in San Jose, California.

Federal Attorney Robert Leach asked Holmes if the statements she made when touting her company’s breakthrough technology to Forbes magazine reporter Roger Parloff were incorrect. She told the court “I believe it now”.

The CEO of Theranos is accused of lying to investors about the capabilities of the company’s devices, while pocketing millions of dollars running the privately-held biotech firm.

On the witness stand for the sixth day, Holmes was also shown and asked to read several emails she sent to shareholders, saying that in hindsight she “could have handled these communications differently”.

The problem in the lawsuit is the ability of Theranos’ proprietary blood-taking technology, which prosecutors allege Holmes exaggerated, knowingly defrauding investors of nearly $ 1 billion, while failing to disclose the use of third-party machines to complete certain blood tests.

Holmes previously said she was sexually assaulted by ex-boyfriend Sunny Balwani, who was the company’s chief operating officer at the time.

She testified that Bulwani was in charge of the lab. He should be tried next year.

Holmes’ defense team are expected to conclude their case next week.


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