Elizabeth Holmes, the founder of blood-testing startup Theranos who was convicted of defrauding investors, has asked for a new trial, saying a witness has had second thoughts about his testimony, Yahoo Finance reported Sept. 6.
According to a document filed by Ms. Holmes' defense team, former Theranos lab director Adam Rosendorff has expressed reservations about his statements on behalf of the government in her recent trial, saying prosecutors "made things sound worse than they were when he was up on the stand during his testimony," according to the story.
Theranos had raised nearly $1 billion from investors until a report revealed it was not conducting comprehensive blood tests using tiny amounts of blood as promised.
In January, Ms. Holmes was found guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud. She faces up to 20 years in prison and is scheduled to be sentenced Oct. 17.