Elizabeth Holmes Jury Verdict Insider

This week I had the pleasure of interviewing my Crime and Justice colleague David Adam about the Elizabeth Holmes trial in California.

The verdict was announced on Friday. You can read the full story here.

— David Adam was involved in the prosecution of Elizabeth Holmes.

I was brought on by Elizabeth Holmes. I told her that I knew some of the people involved in the trial; they needed me to be in the courtroom. I don’t believe you can prep a jury that well. Everybody you talk to is biased. I was there for the 9th through 18th days of the trial. As an experienced prosecutor it was a foreign world. It’s a lot of trial preparation. I was trying to draw them in and to let them see the person who was on trial. That’s what I was trying to do.

Within two hours the prosecutor was done. They did not want me to leave. I did not leave. The defense was not necessarily for the least guilty. It was pretty clear when I left. They were doing all they could to save her. She appeared prepared to take the defense best shot but was not taking the case seriously.

We had everyone expecting we were going to get life but everybody has said it’s still a big surprise that she is not getting life. The result is where we expected.

Elizabeth Holmes is not convicted of anything. There was only one charge of securities fraud. When I looked at the emails I thought it was going to be big, huge. It isn’t. By the time she gets to the end people are like “hallelujah” because it was not serious. I don’t like to blame the prosecutors. I have to take accountability for doing my job and doing it poorly. The prosecution did a really good job. The fact that the sentencing is on Monday was important because at this point it’s almost impossible for an “almost impossible” to take place. Elizabeth Holmes will face a stiffer sentence than any other Silicon Valley entrepreneur I’ve seen charged with a securities fraud. No CEO I’ve seen go to prison for insider trading.

— Elizabeth Holmes is not convicted of anything. There was only one charge of securities fraud.

What you may not know about Holmes is she was one of the 20 richest people in America at one point but the market crashed and she lost $10 billion. You are the biggest threat to the markets, not bitcoin. A lot of people think if only this would have happened to her they would have learned a lot. They have not. Nobody knows about bitcoin. It’s a house of cards.

— Elizabeth Holmes is not convicted of anything. There was only one charge of securities fraud.

— is not convicted of anything. There was only one charge of securities fraud.

— what people don’t know about Holmes is the market crashed and she lost $10 billion. No CEOs I’ve seen go to prison for insider trading. It’s a house of cards.

— What happened with the SEC?

I don’t know the story of what they really thought that week in October. That week went by that was kind of strange. Nobody does what they say. Nobody in that room had full information. There is no proof to suggest or implicate the company. They were operating on bad information.

She started Theranos and it was riding high and on October 7 they got this phone call. The SEC called the company and said the Justice Department wants to question Elizabeth. They are listening to a recording that they have on where she is giving a speech and she says she cannot tell the truth but we are just trying to follow the law.

She goes “I can’t, I can’t tell the truth” then she sits there looking confused. The state attorney gets on the phone and she said “the SEC is here with a subpoena.” So you have people talking back and forth like this and trying to figure out what happened and what the SEC wants.

I told her “We’re not going to help you. We cannot answer this question because we don’t have the information.” She didn’t want to hear it. They don’t want to tell the story. But people paid a lot of money to hear her version of events.

— Elizabeth Holmes is not convicted of anything. There was only one charge of securities fraud.

— is not convicted of anything. There was only one charge of securities fraud.

— what people don’t know about Holmes is the market crashed and she lost $10 billion. No CEOs I’ve seen go to prison for insider trading. It’s a house of cards.

— what happened with the SEC?

I don’t know the story of what they really thought that week in October. That week went by that was kind of strange. Nobody does what they say. Nobody

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