Theranos founder Elizabeth Holmes is not a villain but rather a hard-working businesswoman whose company failed, her lawyer told jurors on Wednesday at the former Silicon Valley star's trial on federal fraud charges arising from her actions at the now-defunct blood-testing startup once valued at $9 billion.
Lance Wade, a lawyer for Holmes, began the defense's opening statement in one of the most closely watched trials of a U.S. corporate executive in years. Wade spoke after the prosecution in its opening statement to the jury said Holmes had engaged in "lying and cheating" to attain wealth and fame.
"In the end, Theranos failed and Ms. Holmes walked away with nothing," Wade added. "But failure is not a crime. Trying your hardest and coming up short is not a crime. And by the time this trial is over, you will see that the villain the government just presented is actually a living, breathing human being who did her very best each and every day. And she is innocent.
The trial is being presided over by U.S. District Judge Edward Davila, with a 12-member jury along with five alternate jurors. In truth, Leach said, insiders knew the technology was "plagued by issues and repeatedly failing quality control."
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