Theranos founder Elizabeth Holmes was called to the stand in her criminal trial on Friday
SAN JOSE, CALIF — A smiling Elizabeth Holmes took the stand on Friday to testify in her criminal trial, a sudden and surprising move by the defense team, which began its case earlier in the day. Holmes,37, faces 11 counts of wire fraud and conspiracy to commit wire fraud for her actions as founder and CEO of Theranos, which she led from 2003 until the company shut down in 2018. She pleaded not guilty. In the first 11 weeks of the trial, the prosecution called 29 witnesses, including former lab directors, patients, doctors, business partners and investors. The government rested its case on Friday morning, following the testimony on Thursday of journalist Roger Parloff, who wrote the 2014 Fortune magazine cover story, “This CEO Is Out For Blood.” Holmes could spend up to two decades in prison if she’s convicted. She’s denied any wrongdoing. Defense lawyers hadn’t indicated whether Holmes would take the stand. But she was called and confidently walked up shortly after 3 p.m. California time. Kevin Downey, one of Holmes’ defense attorneys, began the questioning. In one of her first statements, Holmes said that between 2009 and 2010, her team made a technological breakthrough. “We worked for years with teams of scientists and engineers to miniaturize all of the technologies in the laboratory,” Holmes said.
