Once a star of Silicon Valley, biotech company founder Elizabeth Holmes is facing several counts of fraud. Prosecutors have accused her of "lying and cheating" in opening arguments.
Theranos founder Elizabeth Holmes is accused of making false claims about her company's diagnostic abilities. The former CEO's start-up was valued at $9 billion (€7.6 billion) Holmes accused of committing fraud by deceiving her investors and those who would use the device.
Holmes accused of 'lying and cheating' in opening arguments, federal prosecutor Robert Leach told the court. "The defendant's fraudulent scheme made her a billionaire," Leach said. "This is a case about lying and cheating to get money," he told the jury.
Defense said she made a'mistake' Holmes' legal team argued that she was not the "villain" She was being made out to be and had given her all to Theranos, her lawyer said. Holmes did not go to work every day intending to lie, cheat and steal, her attorney said.
Holmes, 37, has pleaded not guilty to 10 counts of wire fraud and two counts of conspiracy. If convicted, she faces up to 20 years of imprisonment. Former Theranos executive Ramesh "Sunny" Balwani is scheduled to be tried separately, and has also plead not guilty.
US District Judge Edward Davila is presiding over the case, with a 12-member jury and five alternate jurors. The jury is 12 members, with five alternate jury members and 12 members of the jury. The trial is expected to take place in New York City, New York, on November 14.