Theranos founder's fraud trial to begin in US

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SAN FRANCISCO: A female entrepreneur whose multi-billion dollar start-up looked set to revolutionise medical testing, before it crashed and burned in a blaze of fraud claims, goes on tr

When she launched the diagnostics company Theranos in 2003, at the age of just 19, the charismatic Elizabeth Holmes promised results that were faster and cheaper than traditional laboratories, running an analytical gamut on just a few drops of blood.

At her long delayed trial, which begins in September in San Jose, California, Holmes faces nine charges of wire fraud and two of conspiracy to commit wire fraud that could see her jailed for up to 20 years. But they may also hear from patients who were victims of the faulty tests, and received misdiagnoses of cancer, HIV or pregnancy.

"For many jurors, the patient testimonial likely will be the most compelling and the most moving testimony." According to John Carreyrou, the Wall Street Journal reporter who first broke the story and has since written a book about the scandal, Holmes was a true believer in her vision of cheap blood tests - even if she knew the facts didn't really fit.

"Nine out of 10 or even 99 out of 100 people in her shoes would have copped a plea several years ago, but she is willing to roll the dice and take it all the way to court."

 

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