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Prosecutors in Elizabeth Holmes' fraud trial say they'll likely rest their case next week. Here's why that's probably a good thing for the Theranos founder.

Nov 12, 2021, 04:23 IST
Business Insider
Jane Tyska/Digital First Media/The Mercury News via Getty Images
  • Prosecutors in the trial of Theranos founder Elizabeth Holmes will likely rest their case next week.
  • An expert says this helps Holmes, since it could limit prosecutors' "compelling" case against her.
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The federal fraud trial of Theranos founder Elizabeth Holmes is nearing a critical turning point.

Assistant US Attorney Jeffrey Schenk, a prosecutor in the trial, said Wednesday that the prosecution could rest its case next week. The surprise announcement came during the trial's 10th week. It was initially expected to last 13 weeks but will likely take longer.

Prosecutors have called 24 witnesses to testify thus far, but Schenk says they may not have enough additional witnesses to take up all five days of the trial that are slated for next week, according to The Wall Street Journal.

"The prosecution has laid out a very strong and compelling case against Holmes for multiple counts of conspiracy and wire fraud," said Michele Hagan, a legal analyst and former prosecutor, who maintains that a shorter-than-expected case by the prosecution could help diminish the damage to Holmes. "The timing is a good development for Holmes or for any defendant after listening to weeks of potentially damaging and incriminating evidence so far."

Moving on to the defense's witnesses means trial observers will finally get an answer to a much-pondered question: Will Holmes testify?

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"Based on the testimony so far, I think Elizabeth Holmes will feel compelled to take the stand and testify in her defense," Hagan said. "Most defendants are discouraged from testifying; however, Holmes is a skilled closer and a high-stakes risk taker. She has spent years convincing people to believe in her, her vision and her 'revolutionary' technology. Why would a jury be any different? All she needs is one juror to believe in her to avoid conviction. It may be the biggest gamble of her life."

The 24 witnesses who have taken the stand make up a small fraction of the more than 200 people identified in a previous court filing as potential witnesses who could be called to testify. These possible witnesses include names like media tycoon Rupert Murdoch, former US secretary of state Henry Kissinger, former US secretary of defense William Perry, and former CDC director William Foege.

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