Elizabeth Holmes' Fraud Trial Resumes

THE BALLOT MACHINE AND THE BALLOT IS MANUALLY REVIEWED. >>> A COUPLE OF BIG TWISTS OF THE TRIAL OF ELIZABETH HOLMES TODAY AND FORCED AN APPEARANCE OF ONE OF THE YOUNG WHISTLE BLOWER. SCOTT BUDMAN WHO WAS IN COURT THIS MORNING. WE ARE TALKING ABOUT A LOT OF MONEY HERE. >> YES, WHEN THERANOS DID WITH THAT MONEY TOOK MOST OF THE DAY TODAY. HOLMES ARRIVED HOLDING HER MOTHER'S HAND. >> Reporter: THERANOS LOST TENS OF MILLIONS OF DOLLARS DURING THE YEAR THEY WERE BRINGING IN HUNDREDS OF MILLIONS IN INVESTMENT DOLLARS. HOLMES PULLED IN A SALARY OF UP TO $400,000 A YEAR WHILE EVENTUALLY FLYING AROUND IN THE CORPORATE JET. TOWARDS THE END OF THE DAY, THE FIRST APPEARANCE OF ERICA CHUNG, SHE'S THE FORMER THERANOS' EMPLOYEE TESTIFIED TODAY WHICH THERANOS TOLD INVESTORS WE ARE GOING TO CHANGE THE WAY WE TEST FOR BLOOD DIDN'T WORK. >> IF ELIZABETH HOLMES AND SUNNY WERE BUILDING A MACHINE THAT WAS YET TO BE FUNCTIONING AS WHAT THEY ARE SUPPOSED TO BE BUT BELIEVE THEY ARE GOING TO GET THERE, THAT'S NOT GOING TO RISE TO THE LEVEL OF CRIME. IF CONVERSELY, THEY KNEW THAT EDISON WAS AN EMPTY BOX AND THEY WERE HOLDING OUT TO THE WORLD TO INVESTORS THAT IT DID, THAT MAY RISE TO THE LEVEL OF CRIME. >> SCOTT, HOW FAR DID TODAY'S TESTIMONY PROVING HOLMES IS THE FRAUD OF THE INVESTOR? >> PLENTY OF COMPANIES HAVE BROUGHT IN HUNDREDS OF MILLIONS OR BILLIONS OF DOLLARS OF INVESTMENT AND ULTIMATELY WERE UNABLE TO PAY OUT SOMETIMES BECAUSE SOMETHING DID NOT WORK. INTENT IS THE KEY HERE. WE DON'T KNOW IF HOLMES KNEW IN ADVANCE THAT THOSE MACHINES DIDN'T WORK AND STILL TOLD INVESTORS AND PATIENTS THEY DID. THAT WOULD BE CRIMINAL TODAY. WE JUST STARTED DOWN THAT PATH. >> WHAT DO WE SEE COMING NEXT? >> I THINK WE'LL SEE TOMORROW ERICA CHUNG IS GOING TO TAKE CENTER STAGE. SHE'S ONE OF TWO WHISTLE BLOWERS THAT WE KNOW ARE GOING TO TESTIFY. I THINK AS SHE GETS INTO TESTIMONY, THEY STARTED TO GRILL HER TODAY ON WHAT SHE KNEW AND WHAT SHE TRIED TO COMMUNICATE TO OTHER EXECUTIVES INCLUDING ELIZABETH HOLMES AT THE COMPANY, WE SHOULD

Channel: NBC Bay Area

Views: 762

Rating: 5 out of 5

Keywords: Elizabeth Holmes, Theranos, Elizabeth Holmes trial, finances, Theranos trial, Scott Budman, San Jose

Id: 3fA8cbGWFsM

Length: 2min 29sec (149 seconds)

Published: Tue Sep 14 2021