{"id":731164,"date":"2021-09-08T16:51:06","date_gmt":"2021-09-08T20:51:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=731164"},"modified":"2021-09-08T16:51:09","modified_gmt":"2021-09-08T20:51:09","slug":"trial-begins-for-theranos-founder-elizabeth-holmes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trial-begins-for-theranos-founder-elizabeth-holmes\/","title":{"rendered":"Trial begins for Theranos founder Elizabeth Holmes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrial-begins-for-theranos-founder-elizabeth-holmes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=731164&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2513670\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2513670\" class=\"wp-caption-text\">Elizabeth Holmes, the founder and former CEO of blood testing and life sciences company Theranos, arrives for the first day of her fraud trial, outside Federal Court in San Jose, California. September 8, 2021. (NICK OTTO\/AFP via Getty Images)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 1:48 PM PT \u2013 Wednesday, September 8, 2021<\/h5>\n<p>Opening arguments are set to begin on Wednesday in the case against Theranos founder Elizabeth Holmes. Holmes was credited as being a game changer in the medical industry, but is now facing federal charges of defrauding patients and investors over her now-defunct company.<\/p>\n<p>Holmes claimed Theranos could detect more than 200 medical conditions from anemia to cancer, through only a simple prick of the finger.<\/p>\n<p>\u201cWe\u2019ve made it possible to eliminate the tubes and tubes of blood that traditionally have to be drawn from an arm and replaced it with the nanotainer,\u201d she claimed.<\/p>\n<p>With a test purportedly costing less than $3, the technology quickly garnered attention from medical professionals and investors. In 2013, Walgreens agreed to a partnership with Theranos and opened around 40 blood drawing centers in Arizona. However, the deal went wrong after the <a href=\"https:\/\/www.wsj.com\/video\/series\/in-depth-features\/theranos-founder-elizabeth-holmes-on-trial-what-to-expect\/ADBC7111-A763-49DF-96FE-C9F091F7F045?mod=e2tw\">Wall Street Journal<\/a> detailed employees\u2019 accounts of how the device, dubbed Edison, only tested for 15 conditions.<\/p>\n<p>The investigative report also unveiled an additional employee filed a complaint to regulators, stating Theranos failed to report test results and were not accurate. Breast cancer survivor Sheri Ackert explained how a Theranos blood test showed her estrogen levels higher than the normal amount for a post-menopausal woman, which could cause cancer to recur and lead to new worries.<\/p>\n<p>\u201cEither they made a mistake, they tested someone else\u2019s blood or their controls don\u2019t work, or I have a tumor somewhere, great,\u201d recalled Ackert.<\/p>\n<p>However, her doctor reordered another blood test from a different lab, showing her blood contained almost no estrogen. Many people began questioning the technology\u2019s validity upon officials investigating the matter.<\/p>\n<div id=\"attachment_2513711\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-2513711\" loading=\"lazy\" class=\"wp-image-2513711 size-full\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/holmes2.jpg\" alt=\"SAN JOSE, CA - AUGUST 31: Theranos founder Elizabeth Holmes arrives at the Robert F. Peckham Federal Building with her defense team on August 31, 2021 in San Jose, California. Holmes is on trial after being indicted on multiple counts of fraud for misrepresenting her company&#039;s blood-testing technology. (Photo by Ethan Swope\/Getty Images)\" width=\"1024\" height=\"691\" \/><\/p>\n<p id=\"caption-attachment-2513711\" class=\"wp-caption-text\">SAN JOSE, CA \u2013 AUGUST 31: Theranos founder Elizabeth Holmes arrives at the Robert F. Peckham Federal Building with her defense team on August 31, 2021 in San Jose, California. (Photo by Ethan Swope\/Getty Images)<\/p>\n<\/div>\n<p>The once successful company, which was valued at $9 billion, has since made a rapid decline in value. Since then, Theranos settled numerous lawsuits with investors, Arizona residents and with the Securities and Exchange Commission.<\/p>\n<p>Holmes, along with the former president of Theranos Ramesh Balwani, are facing 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. Although, both have pleaded not guilty.<\/p>\n<p>The Wall Street Journal detailed how government lawyers must convince the jury that Holmes intended to commit fraud, rather than the company couldn\u2019t live up to its promises. However, her lawyers have indicated she will testify that some of her statements and actions while running Theranos were the result of \u201cintimate partner abuse\u201d by Balwani.<\/p>\n<p>If convicted, Holmes faces 20 years in jail. In the meantime, Balwani\u2019s trial is set to begin next year.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/robert-e-lee-statue-torn-down-in-richmond-va\/\">Robert E. Lee Statue Torn Down In Richmond, Va.<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Elizabeth Holmes, the founder and former CEO of blood testing and life sciences company Theranos, arrives for the first day of her fraud trial, outside Federal Court in San Jose, &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-731164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/731164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=731164"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/731164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=731164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=731164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=731164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}