Elizabeth Holmes had ‘nothing to cover’ as Theranos collapsed

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Elizabeth Holmes had “nothing to hide” following a damning investigation into her blood testing company Theranos, she wrote in personal notes regarding the investigation that ultimately sparked her disappearance and downfall.

Holmes’ sighting occurred two weeks after The Wall Street Journal published the first article in investigative footage that alleged Theranos had exaggerated his expertise and was in fact a fraud, according to CNBC, who got a wealth of diary-type notes that Holmes typed for herself in 2015.

The Journal’s article streak ultimately sparked prison and monetary investigations into Holmes – whose trial began earlier this month – his company and then-boyfriend and COO of Theranos Ramesh “Sunny” Balwani.

Holmes and Balwani pleaded not responsible to two counts of conspiracy to commit wire fraud and 10 counts of wire fraud. They will likely be tried individually, with Balwani’s trial set to begin next year.

Holmes could be sent to jail for 20 years if found responsible.

But in the weeks following the publication in October 2015 of the Journal’s preliminary investigation into Theranos, Holmes reportedly wrote to himself: “Point-by-point rebuttal statements.”

“Intrepid transparent nothing to hide”

The Wall Street Journal began its investigative streak on Theranos in 2015.
Alamy Stock Photo

Later that night, according to CNBC, Holmes celebrates: “Board statement – independent board review of charges – making statements – no independent opinion. Reckless advice – enter – without judgment – “

Another line learns: “Strategic error – WSJ – impression – fight – number accusations – made”

“Weak accusations – approve everything – have occurred – if – true – raise doubts – want – the council examines – finds nothing there – examined – did not examine it independently”, he- she added later in accordance with the report.

“I didn’t address – don’t shake my confidence – my business judgment – no reason – this announcement – know in a month – correct business judgment at the time. Never for sure, ”said the same observer.

Holmes leaves the Robert F. Peckham Federal Building and the US Courthouse in San Jose, Calif., Last week.
Jane Tyska / Digital First Media / The Mercury News via Getty Images

“State the declaration. Faith – Elizabeth, co.

Taken collectively, the notes provide some insight into Holmes’ state of mind as she digged in and defended herself and her business against growing fraud allegations.

In his trial so far, however, his lawyers have not set the same tone.

Rather than defending themselves against fraud at Theranos, Holmes’ attorneys have largely sought to paint a picture of Holmes as a CEO who had no idea of ​​the technological idiosyncrasies of his company and, therefore, not knowingly committing of fraud.

Instead, his lawyers pointed to Balwani, alleging that he was the mastermind behind the fraud and that Holmes herself is harmless.

Prosecutors in turn sought to show that Holmes and Balwani worked hand in hand, and that Holmes defrauded traders worth tens of millions of {dollars} as lies about the firm’s expertise capabilities. .

Elizabeth Holmes Sunny Balwani
Holmes’ lawyers attempt to portray Balwani as the mastermind of the disgraced company.
REUTERS / Stephen Lam

Other notes Holmes wrote to himself in 2015 feature some of Holmes’ thoughts before the Journal revealed their investigation.

In an observation, after a conversation Holmes had with Theranos’ licensed attorney, David Boies, Holmes simply wrote “Becoming Steve Jobs” in an obvious reference to the biography “Becoming Steve Jobs: The Evolution of an Upstart reckless into a visionary leader “. by Brent Schlender, who had revealed the previous month.

Holmes – a notable Jobs contender who routinely mimicked his iconic black turtleneck look – even recorded a framed photo of Jobs in his office, a former employee told CNBC.

Holmes has generally publicly described Jobs as his idol.


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