Her trial revealed the blurred lines between criminal deception and industry hustle.
Robert Leach, the US Attorney, told jurors in San Jose federal court that Palwani, 57, was the firm’s leader alongside Holmes. He also said that the pair were “accomplices” in every crime.
Holmes and Balwani both denied the accusation in court.
Balwani is almost two decades older than Holmes and was hired to lead the company she started in 2003, when she was just 19 years old.
Prosecutors said that Holmes and Palwani knew technology wasn’t working properly, but they continued to promote it as revolutionary for patients and investors who contributed money to the company.
Theranos’ popularity soared and attracted notables such as Rupert Murdoch or Henry Kissinger. However, a series of reports questioned Murdoch’s Wall Street Journal claims that Theranos was a successful company, which led to its collapse.
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