and acquitting her on four counts of patient fraud and conspiracy earlier this year. She could be sentenced to up to 20 years in prison by Davila in a hearing scheduled for late September. The jury in Balwani’s trial is aware of Holmes’ conviction but has been ordered not to consider that in their deliberations.
But the blood tests never consistently worked as Holmes and Balwani had promised, even as prominent investors such as Silicon Valley billionaire Larry Ellison and media mogul Rupert Murdoch poured nearly $1 billion into Theranos. Meanwhile, Theranos was running tests of its technology as part of a partnership with Walgreens that were delivering inaccurate results to patients that threatened to jeopardize their health.
All that wealth evaporated once it became known Theranos’ technology wasn’t living up to Holmes’ brash promises. The downfall transformed Theranos -- and the couple that once ran it -- from a Silicon Valley sensation into “The plan here was not to get caught,” federal prosecutor John Bostic told the jury Friday. “The plan was not for the company to fail. The plan was to get away with it.”to highlight a July 2015 text that he sent to Holmes. “I am responsible for everything at Theranos,” Balwani reminded Holmes. “All have been my decisions too.”
Source: Tech Daily Report (techdailyreport.net)
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