The upcoming trial of Elizabeth Holmes on fraud charges has turned into one of the most closely watched and hotly anticipated white collar crime cases of our time, a year before arguments are set to begin. The founder of science startup Theranos Inc., Holmes and former Theranos president Ramesh Balwani are accused of defrauding investors, falsifying test results and more.
Not long ago, Holmes was widely celebrated as a visionary young entrepreneur whose new blood-testing equipment was set to revolutionize medical technology. Investors flocked to her company, and in summer 2015, Theranos was valued at $10 billion. That all came crashing down after investigative journalists found former employees who said the company's much celebrated new technology didn't work, and that Holmes and Balwani lied to investors about it.
Soon, Theranos was the subject of government investigations and investor lawsuits. In 2018, Holmes and Balwani were indicted on nine counts of wire fraud and other charges. Their trial is set to begin next year.
The Theranos scandal has been the subject of much discussion in the news media and at least two widely-discussed documentary films.
Meanwhile, Holmes and Balwani continue to work on their defense. A federal judge recently agreed with their request to speed up the release of government documents the defendants say they need to build their defense.
In high-profile criminal cases, members of the public often make up their minds about questions of guilt or innocence long before the trial begins, but the criminal justice system is not supposed to work that way. All people who are accused of a crime have rights, and they deserve a defense. A good criminal defense attorney can help people defend their rights and protect their futures.