Elizabeth Holmes, founder and former CEO of blood testing and life sciences firm Theranos, arrives on the primary day of her fraud trial outdoors Federal Court docket in San Jose, California. September 8, 2021.

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SAN JOSE, Calif. — A smiling Elizabeth Holmes took the stand Friday to testify at her legal trial, a sudden and stunning transfer by the protection crew, which started its case earlier within the day.

Holmes, 37, faces 11 counts of wire fraud and conspiracy to commit wire fraud for her actions as founder and CEO of Theranos, which she led from 2003 till the corporate’s closure in 2018. He pleaded not responsible.

Within the 11 weeks since her trial started, prosecutors referred to as 29 witnesses, together with former laboratory administrators, sufferers, medical doctors, enterprise companions and traders. Following testimony on Thursday from Roger Parloff, a journalist who wrote 2014 Fortune journal, the federal government put its case to relaxation on Friday morning. Cowl story, “This CEO Is Out for Blood,” outlining Holmes.

Protection attorneys didn’t point out whether or not Holmes would take the stand. However she was referred to as shortly after 3 p.m. California time and confidently went upstairs.

Certainly one of his protection attorneys, Kevin Downey, started the inquiry. In considered one of his first statements, Holmes mentioned that between 2009 and 2010, his crew made a technical breakthrough.

“We labored for years with groups of scientists and engineers to miniaturize all of the strategies within the lab,” Holmes mentioned.

Downey requested Holmes about her public bulletins about what number of exams Theranos may run and whether or not she was limiting her feedback to sure varieties of exams. Holmes mentioned, “No.”

A number of firm insiders, together with whistleblower and former lab assistant Erica Cheung, testified that Theranos’ tools couldn’t run greater than 12 completely different exams, contradicting the corporate’s bulletins. Holmes instructed potential traders and others that Theranos’ proprietary know-how may run 1,000 blood exams.

Holmes discovered of his background at Stanford and his resolution to drop out and pursue his start-up. She mentioned she initially referred to as the corporate Actual-Time Cures and altered the identify to Theranos in 2005. He instructed jurors that he tried to lift some cash, get a lab, and rent scientists.

“We had been prototyping,” Holmes mentioned, with the preliminary crew making an attempt to construct the elements of the know-how. “I had the chance to rent some individuals at Stanford and with whom I used to be working.”

That is breaking information. Please test again for updates.


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