Elizabeth Holmes says she gave journalist incorrect information

Elizabeth Holmes (L) speaks onstage in 2015 alongside Alibaba's Jack Ma. The Theranos founder is expected to continue testifying Monday in her high-profile fraud trial. File Photo by John Angelillo/UPI

Dec. 8 (UPI) — Elizabeth Holmes testified she misled a reporter in 2014 about her company Theranos when she returned Tuesday to the witness stand during her trial on fraud charges in San Jose, Calif.

Federal prosecutor Robert Leach asked Holmes whether the statements she made touting her company’s breakthrough technology to Forbes Magazine journalist Roger Parloff were incorrect. She told the court “I believe that now.”

The Theranos CEO is accused of lying to investors about the capabilities of the company’s devices, all the while pocketing millions of dollars while running the private biotech company.

On the witness stand for the sixth day, Holmes was also shown and asked to read several emails she sent to shareholders, saying that looking back, she “could have handled those communications differently.”

At issue in the trial is the capability of Theranos’ proprietary blood-drawing technology, which prosecutors allege Holmes over-hyped, knowingly defrauding investors out of close to $1 billion, while also failing to disclose the use of third-party machines to complete some blood tests.

Holmes previously testified that she was sexually abused by former boyfriend Sunny Balwani, who was the company’s COO at the time.

She has testified Bulwani was in charge of the laboratory. He is set to go on trial next year.

Holmes’ defense team is expected to rest its case next week.


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