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Holmes Trial Wraps Up

The trial of Elizabeth Holmes, the founder and former CEO of Theranos, is to come to a close today, the Washington Post reports.

Holmes was indicted on charges of wire fraud and conspiracy to commit wire fraud stemming from allegations she defrauded the company's financial investors. Theranos claimed to be able to run a range of tests using only a small amount of blood, but a series of articles appearing in the Wall Street Journal questioned the company's ability to do so and federal regulators further uncovered problems at a Theranos lab. Theranos eventually shuttered in 2018.

Holmes's trial began in September. As the Associated Press reports, prosecutors portrayed her as "con artist" who lied to make money, while the defense described her as a "well-meaning entrepreneur." Holmes took the stand in November, testifying that she believed that Theranos could run its blood tests and that she was abused by Ramesh 'Sunny' Balwani, her business and romantic partner, which his lawyer has denied.

In closing arguments, assistant US Attorney Jeffrey Schenk said, according to BuzzFeed News, that Holmes "chose fraud over business failure." He added that "[s]he chose to be dishonest with her investors and with patients. That choice was not only callous, it was criminal."

The defense, however, argued that the downfall of Theranos was more complicated than that, the Post says. "Elizabeth Holmes was building a business and not a criminal enterprise," Kevin Downey, Holmes's attorney, said, according to the Post.

It adds that closing arguments are expected to end Friday, with jury deliberations to begin in the afternoon or on Monday.