Lawyers give closing arguments in Elizabeth Holmes trial, say she chose 'fraud over business failure'

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Federal prosecutors went toe-to-toe with defense attorneys for Theranos founder Elizabeth Holmes as both sides delivered hours-long closing arguments in her criminal fraud trial.

Prosecutors concluded their roughly three-hour-long closing statements on Thursday, and defense attorneys were over two hours into their remarks when Judge Edward J. Davila adjourned court for the day.

​​Schenk then asked the jury to consider what an honest pitch to investors would have sounded like back in 2013. "The government would have you believe that entity that she presided over as CEO was built by lies, by swindling, by half-truths, by misrepresentations that were carried out over years and years and years," Downey said.

By dawn, over 60 members of the press and public were already lined up outside of the Robert F. Peckham Federal Courthouse, the crowd spilling out of the courtyard and onto South First Street. Hours later, at around 8 a.m., Holmes, her mother, her father and her partner, Billy Evans, arrived at the courthouse, all wearing blue and walking hand in hand as the rest of her entourage trailed behind.At 9:05 a.m., the judge and the jury took their seats in the fifth-floor courtroom.

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