Elizabeth Holmes' Theranos Trial Set For March 2021

Photo credit: Stuart Isett/Fortune Global Forum, under Creative Commons license

The trial of Elizabeth Holmes, the woman famous for founding Theranos, a now defunct medical testing startup that's accused of defrauding investors, has been set on the 9th of March, 2021. Initially set at an earlier date, Holmes' trial was delayed due to the coronavirus pandemic. She's facing 12 fraud charges from federal prosecutors, accused of defrauding investors who poured hundreds of millions of dollars into Theranos. Also facing trial is co-defendant Ramesh "Sunny" Balwani, Theranos's former Chief Operating Officer and President.

Expected to be called as witnesses before the trial include prominent individuals such as former U.S. Secretary of Defense James Mattis, former U.S. Secretary of State Henry Kissinger and media mogul Rupert Murdoch, who is known to have lost $125 million from investing in Theranos.

Holmes and Balwani each face up to 20 years in prison if convicted of their charges.