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Thursday, December 2, 2021

Elizabeth Holmes trial: Holmes testifies to stolen logos: ‘I wish I had done it differently’

On the third day of her defense as a witness for criminal fraud, Theranos founder Elizabeth Holmes claimed that she was responsible for placing pharmaceutical company logos on Theranos reports without permission, telling the jury, “I wish I had done otherwise.”

The stolen logos of pharmaceutical giants Pfizer and Schering-Pllow, attached to reports by Theranos praising its own blood testing technology, are some of the most damaging evidence against Holmes ever seen by a jury. The jury heard Holmes circulated the reports to investors as well as Walgreens executives as Theranos develops a partnership with a chain of pharmacies.

Holmes told the jury that she put the logos on Theranos reports because “this work was done in partnership with these companies and I was trying to get it across.”

Representatives from both companies have previously testified that they disagreed with the brilliant findings of the Theranos reports, and found Holmes “evasive” when asked questions about her startup’s technology.

Holmes’ lawyer Kevin Downey noted that witnesses testified that they believed the Pfizer and Schering-Pllow logos signified that the companies had prepared reports. Holmes said she applied the logos just before submitting the reports to Walgreens executives, and said she was not intended to make the logos appear to be made by pharmaceutical companies.

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Holmes, who founded a Palo Alto blood testing startup at the age of 19 in 2003, is accused of allegedly extorting hundreds of millions of dollars from investors and defrauding patients into false claims that the company’s machines could perform a full range of tests using just a few drops of blood. She and her co-accused, the former president of Sunny Balwani, denied the charges. Balvani is to be tried next year.

World Nation News Deskhttps://www.worldnationnews.com
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