Theranos founder Elizabeth Holmes goes on trial on Wednesday in federal court, with prosecutors poised to lay out fraud charges against the former Silicon Valley star accused of lying about her now-defunct blood-testing startup once valued at $9 billion.
In one of the most closely watched trials of a U.S. corporate executive in years, Holmes, 37, is accused of making false claims about the company, including that its devices designed to draw a drop of blood from a finger prick could run a range of tests more quickly and accurately than conventional laboratory means.
Holmes, who may take the witness stand during the trial, has pleaded not guilty to 10 counts of wire fraud and two counts of conspiracy. Former Theranos executive Ramesh "Sunny" Balwani, scheduled to be tried separately, has also pleaded not guilty. Holmes' attorneys have said in court papers she is "highly likely" to take the witness stand and testify about how the relationship affected her mental state. Defendants rarely testify at their own trials because it opens them up to potentially risky cross examination by prosecutors.
A Stanford University dropout who started Theranos in 2003 at age 19, Holmes once grabbed headlines with her vision of a small machine that could run blood tests in stores and homes.
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