A new judge took over the jury’s case Friday, after Judge Jeffrey Colbath excused himself from the case. Here’s what we know about the case so far:
What they say
Holmes — the founder of the blood-testing company Theranos, who has been charged with fraud and could face hundreds of millions of dollars in fines and prison time — is facing two counts of health care fraud in the Southern District of New York and two counts of securities fraud in the Northern District of California. Each count carries a maximum penalty of 20 years in prison and a $250,000 fine.
What they do
The prosecution says: The company and its executives lied about the accuracy of its blood-testing machines, its ability to test for life-threatening conditions and the cost of its tests. The defense says: The company misled its investors because it was in trouble and it was building a new blood-testing business that was still under development.
Why it matters
Patients rely on biotechnology and biomedical businesses to help their health. Because regulators were still trying to piece together the company’s health technology and its plans for growth, the company must balance its technology with its financial needs — and always a degree of deception.
What they say
Holmes — the founder of the blood-testing company Theranos, who has been charged with fraud and could face hundreds of millions of dollars in fines and prison time — is facing two counts of health care fraud in the Southern District of New York and two counts of securities fraud in the Northern District of California. Each count carries a maximum penalty of 20 years in prison and a $250,000 fine.
What they do
The prosecution says: The company and its executives lied about the accuracy of its blood-testing machines, its ability to test for life-threatening conditions and the cost of its tests. The defense says: The company misled its investors because it was in trouble and it was building a new blood-testing business that was still under development.
Why it matters
Patients rely on biotechnology and biomedical businesses to help their health. Because regulators were still trying to piece together the company’s health technology and its plans for growth, the company must balance its technology with its financial needs — and always a degree of deception.
People trust the people who work in these businesses, and are interested in knowing whether they are being honest, healthy and well-informed with their medical information.
What they say
Holmes — the founder of the blood-testing company Theranos, who has been charged with fraud and could face hundreds of millions of dollars in fines and prison time — is facing two counts of health care fraud in the Southern District of New York and two counts of securities fraud in the Northern District of California. Each count carries a maximum penalty of 20 years in prison and a $250,000 fine.
What they do
The prosecution says: The company and its executives lied about the accuracy of its blood-testing machines, its ability to test for life-threatening conditions and the cost of its tests. The defense says: The company misled its investors because it was in trouble and it was building a new blood-testing business that was still under development.
Why it matters
Patients rely on biotechnology and biomedical businesses to help their health. Because regulators were still trying to piece together the company’s health technology and its plans for growth, the company must balance its technology with its financial needs — and always a degree of deception.
People trust the people who work in these businesses, and are interested in knowing whether they are being honest, healthy and well-informed with their medical information.
Related: Theranos reportedly would have to pay $200 million to put regulators in charge
CNN’s Adam Goldman and Lili Santi contributed to this report.