Elizabeth Holmes’ trial begins with opening statements

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In opening arguments Wednesday, the government sought to convince jurors that the Stanford University dropout intended to mislead investors, patients, and doctors about the capabilities of her company and its proprietary blood testing technology in order to take their money as she found herself running out of time and resources to make the technology work.

“This is a case about fraud, about lying and cheating to get money,” Robert Leach, the lead prosecutor, said in an opening statement. “Out of time and out of money, the defendant decided to mislead,” Leach added.

Holmes, who founded Theranos in 2003 at age 19 with the lofty mission of revolutionizing blood testing, has pleaded not guilty. Holmes faces up to 20 years in prison.

“Elizabeth Holmes did not go to work every day intending to lie, cheat and steal. The government would have you believe her company, her entire life, is a fraud. That is wrong. That is not true,” Lance Wade, an attorney for Holmes, said in opening remarks.

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