Elizabeth Holmes trial: case now in the hands of the jury
SAN JOSE - Closing arguments wrapped up Friday in the federal fraud trial against Theranos founder Elizabeth Holmes.
The defense continued its closing before the prosecution had one last chance at rebuttal. Judge Edward Davila then gave jury instructions before the panel was set to begin its deliberations.
Holmes faces nine counts of wire fraud and two counts of conspiracy for allegedly deceiving patients and investors in her failed blood testing company.
Follow below for live updates about the trial of Holmes from KTVU's Evan Sernoffsky who is reporting from federal court in San Jose. (Mobile users click here to follow the blog if it does not display below.)
On Thursday, prosecutor Jeff Schenk summed up the government’s case showing evidence like documents, PowerPoint presentations Holmes gave to investors and recording of the defendant speaking with investors and journalist Roger Parloff.
"Ms. Holmes made the decision to defraud investors and then patients," Schenk said. "She chose fraud over business failure. She chose to be dishonest. That choice was not only callous, it was criminal."
Defense attorney Kevin Downey then began his closing argument, saying Holmes never intended to defraud anyone and acted in good faith when raising money for her company.
"Elizabeth Holmes was building a business and not a criminal enterprise," Downey said.
Evan Sernoffsky is an investigative reporter for KTVU. Email Evan at evan.sernoffsky@foxtv.com and follow him on Twitter @EvanSernoffsky