Elizabeth Holmes, the former CEO of Theranos, wants to block information on her previous income and “luxurious” spending from being revealed in court, CNBC has reported.
What Happened: Holmes’ defense attorneys filed a motion to exclude reports showing her earnings and spending, because they might turn the jury against the defendant.
“The jury should not be subjected to arguments regarding Ms. Holmes’ alleged purchase of luxury travel, ‘fine wine,’ or ‘food delivery to her home,’” CNBC quoted the defense team saying in their motion.
“Many CEOs live in luxurious housing, buy expensive (vehicles) and clothing, travel luxuriously and associate with famous people — as the government claims Ms. Holmes did."
Holmes had a private jet and several assistants for “running her errands,” according to CNBC.
Why It Matters: Holmes is facing dozens of felony fraud charges and up to 20 years in prison.
She and her partner Ramesh Balwan, a former president and chief operating officer at Theranos, told investors, board members and the general public that the company's products in development would be able to diagnose any disease, including cancer and diabetes, from just one drop of blood.
Privately valued at one point at $9 billion, the startup was exposed by a Wall Street Journal investigation and ensuing public scrutiny that revealed the technology was nonexistent.
The trial is scheduled to begin on March 9, 2021, in San Jose.
Image: Wikicommons
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