Elizabeth Holmes, the founder, and chief executive of Theranos, the now-defunct health technology company, convinced investors to invest hundreds of millions into her start-up. She managed to attract top talents and negotiated retail partnerships on her own.
But jurors at the criminal trials were thrown off-track by a tearful Holmes as she delivered a different perspective of her time in the company.
Elizabeth Holmes said on her 4th day of testifying that Ramesh Sunny Balwani, her former partner and President and CCO of Theranos had berated and controlled her. She alleged physical and emotional abuse against her ex-lover. She was trying to refute charges that she misled and lied about the technology for blood-testing that was at the core of Theranos’ business.
Elizabeth Holmes Gave A Detailed Account Of Alleged Abuse By Former Lover And Partner
In the griping fraud case, Holmes recounted her first meeting with Balwani while at high school. Elizabeth Holmes claimed she finally came under his influence and left Stanford to form Theranos, where she was the CEO for 15 years.
The 37-year-old Holmes testified that she was raped at Stanford. It played a role she says in her subsequent subservience to the 56-year-old Balwani.
Ramesh became the COO of Theranos in 2009, a post he held till the end of 2016.
Holmes, in her testimony, alleged that Balwani berated and humiliated her for being inept. She alleged that Balwani controlled her life and forced her to lead her life under his total control. He controlled the time she could meet other people and forced Elizabeth Holmes to write down her daily goals each day.
Elizabeth Holmes alleged that Balwani likened her to a monkey trying to fly a spaceship and separate her from her family. Holmes alleged that Balwani even had control over her diet and forced himself on her after his bouts of criticism.
Elizabeth Holmes is testifying before the jury looking into charges that she swindled customers and investors by lying about the revolutionary method of blood testing.
Elizabeth Holmes will be back on the witness stand on Tuesday. It will be the first chance for prosecutors to grill her under oath. Balwani will face trial early next year. Homes allegations were vehemently refuted by Balwani’s attorney, Jeffrey Coppersmith.