Former Theranos CEO Elizabeth Holmes was seen in New York City this week as her high-profile fraud trial continues. The sighting comes after Holmes took the stand in her own defence on Friday, a pivotal moment in the case that has captivated the business world.
Prosecutors have spent 11 weeks presenting evidence of fraud against Holmes, who has pleaded not guilty to charges of defrauding investors and patients. Witnesses have painted a picture of a chaotic workplace where the founder tolerated little dissent despite rising questions about the company's blood-testing technology.
Former lab directors testified that they repeatedly raised concerns about Theranos's proprietary Edison machines, which the company claimed could perform hundreds of health tests with a single drop of blood. One director, Kingshuk Das, said the devices returned unusual results, such as detecting prostate-specific antigens in female patients, and were 'unsuitable for clinical use'.
High-profile investors, including former US defence secretary James Mattis, told the jury they initially believed in Theranos's mission but grew sceptical as red flags emerged. Mattis said he eventually 'didn't know what to believe' about the company. Daniel Mosley, an estate attorney who brought in an estimated $380m in investments, testified about his own $6m stake.
The trial continues, with Holmes facing cross-examination by prosecutors. Her appearance in New York has drawn attention, though it is unclear whether it is related to the legal proceedings.
