Robert Holmes, founder and former CEO of Theranos, Elizabeth Holmes on Monday, November 4, 2019, in San Jose, California. Pekham arrived at the US District Court House inside the Federal Building for a motion hearing.
Yachuan cao | Nurphoto | Getty Images
She was a billionaire CEO whose luxurious lifestyle surpassed that of any film star.
Elizabeth Holmes hired a personal assistant to travel on her private shopping jet, travel on a private jet, stay in special hotels and drive out an expensive SUV.
As CEO of Theranos, she consistently made headlines. Now facing charges of fraud and jailed, his defense lawyers do not want his rich past to stand in the dock – saying it would be a jury’s favor.
Ms. Attorney wrote, “How much money did Ms. Holmes make in her position at Theranos, how she chose to spend that money, and the people she is associated with, have no relevance to Ms. Holmes’s guilt or innocence.” No, ”his lawyers wrote. A motion was filed late Friday.
Prior to her downfall, Holmes was once named the world’s youngest female self-made billionaire and Theranos was one of Silicon Valley’s unicorn startups – valued at $ 9 billion.
The government alleged that Holmes had “hired Theronos-paid assistants to conduct personal work, to do personal work, and to buy luxury goods,” according to the filing.
In the motion, defense attorneys claim that the motive of prosecutors is based on the belief that Holmes’s luxurious lifestyle may have “motivated him to commit fraud in order to achieve or maintain that lifestyle”.
“Many CEOs live in luxurious housing, buy expensive vehicles and clothes, travel brilliantly and connect with famous people – as the government claims Ms. Holmes did,” he wrote.
During his jet-setting days, Holmes wore his signature black turtle neck in numerous media appearances and was instrumental in revolutionizing the high-cost health care system.
Holmes promised that Theranos could diagnose anything from diabetes to cancer. The company discontinued its unproven technology and questionable business practices in 2018 following a Wall Street Journal investigation.
What was the reason for Holmes’s fall from grace – which betrayed billionaire investors, board members and Valgres.
Holmes and his co-defendant Ramesh “Sunny” Balwani face more than a dozen felony charges. His trial is expected to begin on March 9 in US District Court in San Jose, CA.
Holmes’ lawyer said, “The jury should not plead about the alleged visit to Holi, the purchase for ‘fine wine,’ or ‘deliver food to your home.'”
Holmes faces up to 20 years in prison if found guilty.