Prosecutors allege Elizabeth Holmes misled investors and others by claiming that her startup, Theranos, was on the verge of a blood-testing breakthrough. Testifying at her trial, ex-Secretary of Defense James Mattis says he was among those who were duped.
in San Jose, California. The U.S. government alleges that Holmes duped sophisticated investors, patients and customers into believing that her startup, Theranos, had developed a technology that could scan for an array of potential health problems with just a few drops of blood. Existing tests generally each require a vial of blood.
Holmes assured him that the Edison would be able to scan for health problems with just a finger prick — a concept that Mattis testified he found “pretty breathtaking’” for its potential applications in the field of battle. In another email presented by government prosecutors during Mattis’ testimony, Holmes encouraged his belief in what Theranos could do for the military. “This initiative is a small way of being able to serve and we will do whatever it takes to make it successful,” Holmes assured him in her email.
By the time he left Theranos in late 2016, Mattis testified he had lost faith in Holmes. His disillusionment began a year earlier after a series ofexposed troubling flaws and inaccuracies in Theranos’ blood-testing technology. Those revelations triggered Theranos’ downfall and culminated in the criminal case against Holmes, which could send her to prison for up to 20 years if she is convicted.
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