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Prosecutors asked Elizabeth Holmes about her response to an investigation into her company in 2015 when founder Theranos stood up on Friday to testify in her fraud case.
Holmes reiterated Tuesday that he will not recall much of the tactics used by prosecutors in the case that the introduction of blood tests was used to stop whistleblowers. He denied that Theranos had tried to intimidate The Wall Street Journal correspondent John Carreyrou, a frequent resident of the federal court in San Jose, where his trial had taken place.
Responding to questions from U.S. Attorney General Robert Leach, Holmes said he did not recall the meaning of the text messages indicating he wanted to “go further” in the matter, which he said the company’s equipment did not work as he had announced.
Holmes said he wanted to prevent the disclosure of the company’s “trade secrets” while admitting he had distorted the response to the case.
“I think I did not manage the whole process of the Wall Street Journal reports,” Holmes said.
Holmes face 11 fraud cases on the wire and a wire fraud scam, in which everyone is sentenced to 20 years in prison. He did not plead guilty. Advertisers saw Theranos for $ 9bn at its peak before the company’s decline and finally closed in 2018.
Tuesday’s trial gave prosecutors their first opportunity to cross-examine Holmes. He questioned Holmes ‘reaction to Theranos’ trial, playing a video on CNBC’s commercial radio program in which he said that all corporate tests could be run on existing devices.
Holmes’ lawyers have it he wanted to draw her as a determined entrepreneur who failed to achieve his grand vision. On Tuesday, he admitted that he had the power to direct elections in Theranos when asked if “the money will be left” with him. “I felt that way,” she replied.
Holmes appeared uncomfortable answering questions about Theranos’ submissions to investors and businesses that included Pfizer logos and other major medical companies.
In the old evidence, Holmes agreed he added the Pfizer and Schering-Plow logos to the posters to show their work together. On Tuesday, he testified that he thought the reports were independent before agreeing to be prepared by Theranos.
Critics have leaked a number of emails between Holmes’ staff and Pfizer, stressing that they do not have the official technical approval of Theranos.
Questions from prosecutors followed the testimony on Monday, when Holmes defendant her ex-boyfriend and business partner Sunny Balwani of abusive behavior, including repeated forced sex.
“He was very angry with me and would sometimes come up to us and force us to have sex when I didn’t want to,” says Holmes. Balwani’s lawyers have already denied the allegations of violence.
Holmes also said that Balwani could be ridiculed for his work as an elder and had a strong influence on his leadership. They remained together from 2005 until Balwani left Theranos in 2016.
Judge Edward Davila has ordered that another case be brought to Balwani, who was tried at the same time by Holmes.
Prosecutors said Tuesday concluded a cross-examination earlier in the week, and Holmes’ attorney said their case could end on Friday.
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