- Elizabeth Holmes is attempting to dam federal prosecutors from introducing proof of her wealth, spending and “luxurious” way of life to the jury.
- Prosecutors declare Holmes dispatched Theranos-paid assistants to “run private errands, carry out private duties and buy luxurious items.”
- Holmes’ trial will start on March 9, 2021 with jury choice.
She was a billionaire CEO whose luxurious way of life rivaled that of any film star.
Elizabeth Holmes employed private assistants to run her luxurious purchasing sprees, traveled by personal jet, stayed at unique lodges and drove an costly SUV.
Because the CEO of Theranos, she was always within the limelight. Now dealing with a slew of fraud expenses and jail, her protection attorneys don’t need her rich previous to be performed out within the courtroom – saying it’s going to prejudice a jury.
“The amount of cash Ms. Holmes earned in her place at Theranos, how she selected to spend that cash, and the identities of individuals with whom she related merely haven’t any relevance to Ms. Holmes’ guilt or innocence,” her attorneys wrote in a movement filed late Friday evening.
Previous to her downfall, Holmes was as soon as named the world’s youngest feminine self-made billionaire and Theranos was one in every of Silicon Valley’s unicorn startups — privately valued at $9 billion.
The federal government alleges that Holmes “had her Theranos-paid assistants run private errands, carry out private duties, and buy luxurious items,” in accordance with the submitting.
Within the movement, protection attorneys declare that the prosecutors’ motive argument is predicated on the idea that Holmes’ luxurious way of life could have motivated her to “commit fraud to amass or preserve that way of life.”
“Many CEOs reside in luxurious housing, purchase costly automobile and clothes, journey luxuriously and affiliate with well-known individuals – as the federal government claims Ms. Holmes did,” they wrote.
Throughout her jet-setting days Holmes wore her signature black turtle neck in quite a few media appearances and appeared to carry the important thing to revolutionizing the high-cost health-care system.
Holmes promised Theranos may diagnose something from diabetes to most cancers with only a drop or two of blood. The corporate shut down in 2018 after a Wall Road Journal investigation uncovered its unproven know-how and doubtful enterprise practices.
What adopted was a fall from grace for Holmes – who duped billionaire buyers, board members and Walgreens.
Holmes and her co-defendant Ramesh “Sunny” Balwani are charged with a dozen felony fraud expenses. Their trial is predicted to begin in U.S. District Court docket in San Jose, CA on March 9.
“The jury shouldn’t be subjected to arguments relating to Ms. Holmes’ alleged buy of luxurious journey, ‘effective wine,’ or ‘meals supply to her residence’,” attorneys for Holmes mentioned.
Holmes faces as much as 20 years in jail if convicted.