Elizabeth Holmes: Theranos founder gets hearing on new trial

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Elizabeth Holmes, former boss of Theranos, has had her sentencing delayed while a judge examines whether the testimony of a key witness at her high-profile trial was true.

Holmes sought a new trial, claiming that the federal prosecutors had presented misleading evidence.

In January, she was convicted of four out of eleven counts of defrauding investors at the blood-testing company.

This is the latest twist in an ongoing case that has gripped Silicon Valley.

Court papers show that Holmes filed the “motion to a new trial” on behalf of Adam Rosendorff (ex-director at Theranos Laboratory), court papers indicate.

Holmes’ lawyers claimed that Rosendorff visited her house in August to express his regret about his testimony.

After her lawyers failed last month in their attempt to overturn the conviction, this latest development is a result.

Holmes is currently on bail and was due to be sentenced at 17 October.

After a long and difficult trial in California, Holmes was found guilty by a jury on January 1st of this year.

She was found guilty of conspiracy against investors fraud and wire fraud. She denied all charges.

Prosecutors claimed Holmes knew she lied about technology she claimed could detect cancer and diabetes using just a few drops blood. With the test, the company promised to revolutionize the healthcare industry.

These claims were exposed by the Wall Street Journal in 2015. They claimed that their core blood-testing technology was not working.

In July, her ex-boyfriend and former Theranos President Ramesh Balwani was found guilty of similar charges as well as defrauding patients. He will be sentenced next month.

Theranos, once valued at $9bn (PS7.9bn at its peak), was the darling of Silicon Valley biotech.

Holmes raised more than $900m in funding from billionaires including Rupert Murdoch, a media mogul, and Larry Ellison, a technology mogul.

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