Theranos made remarkable claims they had developed a groundbreaking new blood test. AP
Theranos made remarkable claims they had developed a groundbreaking new blood test. AP

Theranos CEO Elizabeth Holmes to go on trial next July



Elizabeth Holmes will go on trial next summer to face criminal fraud charges for allegedly defrauding investors, doctors and the public as the head of the once-heralded blood-testing startup Theranos.

US District Court Judge Edward Davila ruled Friday that the trial against Ms Holmes and the company's former Chief Operating Officer Ramesh Balwani will start July 28, 2020.

Prosecutors allege that Ms Holmes and Mr Balwani deliberately misled investors, policymakers and the public about the accuracy of Theranos' blood-testing technologies.

The two pleaded not guilty to wire fraud and conspiracy to commit wire fraud. If convicted, they could each face maximum penalties of 20 years in prison and a $2.75 million fine, plus possible restitution, the Department of Justice said.

Holmes dropped out of Stanford University at 19 to found Theranos in 2003, pitching its technology as a cheaper way to run dozens of blood tests with just a prick of a finger and a few droplets of blood.

A notoriously secretive company, Theranos shared very little about its blood-testing machine with the public or medical community. Ms Holmes said she was inspired to start the company in response to her fear of needles.

She carefully crafted her image as well, wearing almost entirely black turtleneck sweaters that earned her the moniker in Silicon Valley as "the next Steve Jobs."

Investors bought what Ms Holmes was selling and invested hundreds of millions of dollars in the company. At one time, Theranos was worth more than $10 billion and Ms Holmes the nation's youngest self-made female billionaire.

But an investigation by The Wall Street Journal in 2015 found that Theranos' technology was inaccurate at best, and that the company was using routine blood-testing equipment for the vast majority of its tests. The story raised concerns about the accuracy of Theranos' blood testing technology, which put patients at risk of having conditions either misdiagnosed or ignored.

The WSJ's investigation marked the beginning of the end of Theranos. Walgreens ended its blood-testing partnership with the company, and the Department of Health and Human Services effectively banned Theranos in 2016 from doing any blood testing work at all.

Last year, Ms Holmes forfeited control of Theranos and agreed to pay a $500,000 fine to settle charges by the Securities and Exchange Commission that she had committed a "massive fraud" that saw investors pour $700 million into the firm.

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

'Dark Waters'

Directed by: Todd Haynes

Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper 

Rating: ****

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

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The Specs

Engine 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp (542bhp in GTS model)

Torque: 730Nm

Price: Dh649,000 (Dh549,000 for GTS) 

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Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

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Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
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APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

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