Theranos fraudster Elizabeth Holmes demands new trial after witness said he regrets testimony
Daily MailDec 24, 2022
The Facts
On Monday, US District Judge Edward Davila agreed to postpone former Theranos founder Elizabeth Holmes' sentencing and hold a "limited" evidentiary hearing on Oct. 17 to address the defense's concerns about testimony given by the blood testing startup's former lab director Adam Rosendorff during Holmes' fraud trial.
Holmes is accused of deceiving investors and was found guilty in January on three counts of wire fraud and one count of conspiracy to commit fraud. She faces 20 years in prison and a $250k fine if not granted a new trial.
The Spin
Narrative A
In light of Rosendorff's seemingly inconsistent position, Judge Davila has made the right decision. These accusations of prosecutorial misconduct are unprecedented, and the court must exercise due diligence by ensuring that Holmes received a fair trial.
Narrative B
Holmes' conviction was a significant victory by prosecutors to finally hold entrepreneurs who over-hype their products to soak up wealth and fame accountable. This move to try and discredit a witness is typical in white-collar cases, but they rarely work. This hearing will only postpone Holmes' inevitable lengthy prison sentence.
