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Trial of Theranos Founder Elizabeth Holmes Set to Begin After Multiple Delays

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Prosecutors and defense lawyers are scheduled to deliver their opening statements on Sept. 8 in the trial of Elizabeth Holmes, the founder of medical sciences company, Theranos Inc. Holmes, who founded Theranos in 2003 at the age of 19, is facing counts of wire fraud and conspiracy to commit wire fraud relating to her blood-testing startup that was once valued at $9 billion. Holmes, 37, and her co-defendant, former romantic partner Ramesh Balwani, are accused of perpetrating a scheme that defrauded investors of millions of dollars as they claimed Theranos’s blood-testing laboratory services were revolutionary and readily available, which would effectively eliminate the way we currently administer blood tests now. The revolutionary services attracted multiple investors including media entrepreneur Rupert Murdoch, the family of former U.S. Education Secretary Betsy Devos, and the Walton family behind Walmart, despite Holmes and Balwani knowing that Theranos could not consistently produce accurate and reliable results for some blood tests. A 12-member …

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