[Follow live news updates on the fraud trial of Elizabeth Holmes.]

In 2018, america charged Elizabeth Holmes and her enterprise companion, Ramesh “Sunny” Balwani, with 9 counts of wire fraud and two counts of conspiracy to commit wire fraud.

The indictment accuses the pair of partaking in a “scheme, plan and artifice to defraud buyers as to a fabric matter.”

In different phrases, they’re accused of mendacity about Theranos’s enterprise and expertise to get cash. The lies outlined within the indictment embrace claims Theranos made about its relationship with the army and the standing of its partnership with Walgreens. Prosecutors additionally say that Theranos faked demonstrations of its expertise and falsified validation stories from pharmaceutical corporations and the monetary well being of its enterprise.

Wire fraud is a felony that carries a most penalty of 20 years and potential fines. Theranos additionally paid a $500,000 fantastic to settle civil securities fraud expenses with the Securities and Trade Fee in 2018. It additionally settled a number of lawsuits with buyers and companions earlier than dissolving that 12 months.

For the reason that prison indictment, the circumstances of Ms. Holmes and Mr. Balwani have been separated. Mr. Balwani faces trial subsequent 12 months. Additional, a number of the expenses towards Ms. Holmes have been dropped and others added. As of as we speak, Ms. Holmes faces 11 counts of fraud and conspiracy to commit fraud.

She has pleaded not responsible.

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