Elizabeth Holmes will soon have her day in court.
On Friday, a judge in the US District Court told the Northern District of California that the attempt by the founder of the blood testing company Theranos and Sunny Balwani, his former president, to begin next summer. Jury elections will start the week of July 28, 2020, and opening statements will start August 4, 2020, a spokesman for the US law firm said.
Holmes and her lawyers had pressured for a delay in setting the court date, and the charges were imposed on millions of documents.
In June 2018, the Ministry of Justice charged Holmes and Balwani with nine counts of fraud and two conspiracy conflicts to commit fraud arising from allegations that the two were involved in a scheme to defraud investors and a separate scam to deceive doctors and patients while in the blood test company. Both Balwani and Holmes have not complained of the costs.
DOJ said when Holmes and Balwani could face up to 20 years in prison each, as well as a $ 250,000 fine plus refund for each of them they are sentenced to.
Theranos officially closed in 201
The blood test started racking up a $ 9 billion worth of its big vision to test for a variety of conditions using just a small blood sample. Holmes was featured on covers of business magazines and included on top executive lists. She had a net worth of around $ 5 billion.
So in October 2015, questions were raised about how the company's technology worked, caused by investigative stories from the Wall Street Journal reporter John Carreyrou.
Read more: Stanford professor who rejected one of Elizabeth Holm's early ideas explains how it was to see Therano's rise and fall
In March 2018, the Securities and Exchange Commission took Holmes and Theranos with "massive fraud". Holmes and Theranos settled with the SEC, and as part of the settlement, Holmes paid a fine and was barred from being a director or officer in a listed company for 10 years. Balwani, who employees as an "enforcer", left the company in May 2016 after working there for seven years. He has also been charged with "massive fraud" by the SEC.
Due to setbacks in the Zika test development in spring 2018, Theranos of most of its remaining employees and appealed to investors for more funding.
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Holmes resigned as CEO of Theranos in June 2018, the same day, DOJ Holmes took fraud. The company officially closed in the fall of 2018. Vanity Fair's Nick Bilton reported that in the last few days of the company, Holmes got a Siberian whale puppy named Balto, who followed her to work but was not potato trained, which made a mess of the company's offices and laboratories.