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Over the same period of days, the two discuss who they think spoke to The Wall Street Journal, which hadn't yet published its first story on Theranos, and how they could retaliate. Do you think thats fair? The prosecution sought to emphasize in Holmes' fifth day of testimony that her attempts since the start of the trial to shift blame on Balwani and other Theranos employees is not a sufficient defense, since she was the company's chief executive. "Ultimately, all roads lead to the CEO?" We all are familiar with the work of Bryan Stevenson. Down to 5 people. Holmes and Balwani have both pleaded not guilty. CNBC has obtained nearly 600 pages of private text and Skype messages between former Theranos CEO Elizabeth Holmes and her then-boyfriend Sunny Balwani. I don't remember this process.". "We totally messed it up.". We dig into her story with one of the reporters who knows it best. They also reveal that Holmes told Balwani about courting high-profile investors who ended up giving Theranos hundreds of millions of dollars. Theyre great, theyre brilliant. I got to comb through and pick only a few messages that I thought would help communicate that I am someone who sends somewhat embarrassing texts but am not TOO weird. She had this message. @kron4news pic.twitter.com/cA0OLv8smz. Some of the messages talked about problems with the blood testing technology, which might help prosecutors show that Holmes knew that they didnt work as advertised. She had the power to fire Balwani whenever she wanted, Leach noted on several occasions. You are breeze in desert for me, read one message to her then-boyfriend and Theranos COO Ramesh Sunny Balwani back in May 2015. CNBC has obtained nearly 600 pages of private text and Skype messages between former Theranos CEO Elizabeth Holmes and her then-boyfriend Sunny Balwani. Alex Gallardo/AP Her company struck a deal with Walgreens to put Theranos blood testing centers in thousands of drugstores. "You are the breeze in the desert for me," Holmes once texted Balwani, according to a tweet from NBC Bay Areaa journalist Scott Budman. How do we keep that going? U.S. District Judge for the Northern District of California Edward Davila sentenced former Theranos CEO Elizabeth Holmes to 11 years in prison last week following a four-month trial in which a. Two individuals put their minds together and they created something, they developed some industry and put their hard work to task and created innovation, and that changed this valley forever. @kron4news pic.twitter.com/aYrmEcwqdX. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. . Ex-Theranos employee Tyler Shultz was a whistleblower. Balwani wrote to Holmes, I am narrowing this down in CLIA. We're grateful for that technology that comes forward, and the world relies on it. "And so, that was it.". Sunny was her (much older) boyfriend and co-conspirator. The exchanges happened just as Holmes was facing questions from the Wall Street Journal, which was preparing an explosive story alleging that Theranos was overstating the capabilities of its technology. In that case, you would anticipate you would see some kind of control issues at work. So I was weeded out of many students. Spivey was Theranos financial manager. Even in the Sesi depositions, she only admits to mistakes and not knowing things. Holmes is currently on trial and accused of defrauding Theranos Inc investors of hundreds of millions of dollars. Balwani's attorney, Jeffrey Coopersmith, declined to comment. She said the abuse occurred during the time in which prosecutors allege she and Balwani lied to investors and duped patients and doctors about Theranos, which Holmes, now 37, founded as a 19 year old. But what the government has to prove now in the criminal case is that Holmes wasnt just a true believer with bad luck, but someone who intended to deceive investors and patients. The text messages obtained by CNBC show discussions about Carreyrou between Balwani and Holmes. And the world now looks to this area not so much for the agricultural gifts from the rich earth below us, but from the technology, the ideas that spring forth from the many bright minds that come here, and we welcome them. This area no longer produced the strawberries, the apricots, the cherries, the artichokes, and the tomatoes that it once did in that great abundance, but rather the technology changed, didn't it? They could be very useful because youd love to see if millions of tests were inaccurate, if a huge percentage of the tests based on these results were inaccurate. "My whole foundation, life, what I believed in, devotion to the company, was based on believing he was this person," Holmes said of Balwani, her ex-boyfriend and business partner of the now-collapsed blood-testing startup Theranos. The text messages paint a picture of life for the former couple. Terrible negative review from someone from Newark lab, Balwani wrote. our Subscriber Agreement and by copyright law. Text Messages Offer Close-Up View of Holmes-Balwani Relationship - WSJ Maya Angelou," Holmes said in an April 2016 text. Elizabeth Holmes Transcript. (Stephen Lam/Reuters). Distribution and use of this material are governed by Balwani responded, "Awesome. Balwani: I know what you are thinking and going thru. Whether its a short vacation or theyre jetting off to begin their career, show the future traveler you care with a meaningful graduation gift. I read an article just the other day, and Ive heard this from a handful of female founders who say they have struggled in the wake of Elizabeth Holmes to raise money from the venture community, because there are people in that community who look at Elizabeth Holmes and say, well, are you the next Elizabeth Holmes? I was I was pretty captivated by it. S5: People dont like big needles being stuck into their arm, you know. The richness of the earth that is below us here in this valley at one time was agriculture. Legal experts say Spivey is establishing a motive. S2: Ive thought a lot about that, too, and I agree with that. elizabeth-holmes-transcript-2017.pdf (88.43 MB) STAY CONNECTED 1 Twitter 2 Facebook 3 RSS 4 YouTube 6 LinkedIn 8 Email Updates. S1: When we come back, the Elizabeth Holmes of 2021 isnt the same person she was just three years ago. And I want to recommend you take a moment and go back and listen to Tuesdays episode of What Next. She is a big thinker. And on a little side street in Palo Alto in a little wooden garage, a single car garage, we know the history. In a 2014 text message, Holmes wrote to Balwani: "total confidence in myself best business person of the year. This idea of her lifestyle, which, again, is something her attorneys fought very hard to keep out of the courtroom. SEC.gov | elizabeth-holmes-transcript-2017 Some of the Theranos investors are expected to testify in the trial. S1: this week on the show? Leach then displayed an email from September 2016 in which Holmes wrote to Rupert Murdoch, who owns the Journal and who invested more than $100 million into Theranos, hoping he would intervene to shut down Carreyrou's reporting. Fraud is genderless. Holmes and Balwani each face 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. Justin Sullivan/Getty Images (Balwani). For 11 weeks, the only words from Elizabeth Holmes in her criminal trial came from old TV interviews, an audio recording of an investor call and text messages presented to the jury. Holmes responded: "I thought so.". She had creative ideas. In one exchange, he even suggests Holmes meet one-on-one with self-help author and motivational speaker Tony Robbins: He doesnt do this but we can ask.. Trying your hardest and coming up short is not a crime, defense attorney Lance Wade told the jury. Hang myself I assume, she responded, in another dubious (and to be clear, exaggerated) entry into both of our iMessage histories. Ahead of Ms. Holmess trial on fraud and conspiracy charges, federal prosecutors on Tuesday filed six pages of text messages that the two executives, who are no longer a couple, exchanged in 2015. "Infinite love for you in every breath," Balwani told Holmes later that month. Like when Balwani texted her in April 2015: The Vegas trip is such a distraction. The messages also provided a unique insight into the romantic life between the pair. Theranos Inc.founder Elizabeth Holmess sometimes banal, sometimes cringeworthy text messages with former president Ramesh Sunny Balwani have been released as an exhibit in her criminal fraud trial. "One of the defenses possibly could be that she didn't have the intent to defraud because she was being controlled and abused by Balwani. What role you think gender plays in all of this and how that might play out in the courtroom? "-Likely refering to Journal reporter @JohnCarreyrou. Fawning text messages between Elizabeth Holmes, the disgraced founder of blood-testing startup Theranos, and her ex-boyfriend and former business partner have been revealed after the alleged fraudster accused him of psychological abuse. Elizabeth Holmes private text messages leak during Theranos - CNBC Here is Elizabeth Holmes holding her husbands hand as she left the courthouse in San Jose moments ago. The private messages, nearly 600 pages' worth, span from June 2011 to July 2016. She left her boyfriend and business partner, Sunny Bellone behind, started a new relationship and just recently gave birth. S1: Back in 2013, ABC News correspondent Rebecca Jarvis was working on a story about high medical costs. We dont know a lot about this approach yet, but court documents hint at it. Holmes just had everything dumped on the internet for anyone to see. Another thing Id rather not have entered into the public record are the times Ive sent a risky text and not gotten a response. Yichuan Cao/NurPhoto via Getty Images (Holmes). They spoke to a different individual perhaps that the jury heard. Spivey testified that Theranos was hemorrhaging money at a time when Holmes was portraying herself as a successful CEO to investors. S2: I would describe her as somebody who is incredibly ambitious. So many people, including George Schultz and Jim Mattis, who are on her board, seem to maybe look the other way past some of these red flags, in part because they wanted a young woman to succeed. Meeker is a well-known venture capitalist who is a partner at Bond Capital. The company was secretly running patient tests on standard commercial machines, even as they told doctors, patients and the media. What did Elizabeth Holmes and Ramesh "Sunny" Balwani say to each other when they thought no one else was listening? S2: The defense has filed a number of of documents to this effect that there could be a conversation around a mental disease or defect. Elizabeth Holmes' private text messages made public by - YouTube S2: and we featured a woman who was spending a lot of money on blood tests. They talked about how Ms. Holmes would visit when they were ill, when they had a problem, she was so giving, she was always there. S1: Rebecca Jarvis spent years covering homes and made an investigative podcast about her called The Dropout. And this is something that for women, its almost unheard of. The industry that we know of here regrettably finds vectors with the financial and personal gain that clouds sometimes the good judgment of individuals, and we see that. Updated Fawning text messages between Elizabeth Holmes, the disgraced founder of blood-testing startup Theranos, and her ex-boyfriend and former business partner have been revealed after. Data is a real-time snapshot *Data is delayed at least 15 minutes. Revealing these text messages was part of the prosecution's efforts to show that Holmes knew what was going on at Theranos even as things were falling apart. hide caption. She dropped out of Stanford at 19 and started Theranos with a promise that her machines could shake up an industry that hadnt changed in decades. The texts also show specifics about the high-flying lifestyle Holmes and Balwani led while Theranos was bleeding hundreds of millions of dollars, according to financial reports. Do you think that the Silicon Valley has learned anything about kind of what role investors and sort of professional board member class plays in in things like this? Carreyrou had sought to interview both Holmes and Balwani but neither agreed. Now, at 31, shes what lots of teenagers with that background likely strive to become the youngest billionaire in the world. 'We'll get them': Elizabeth Holmes' private text messages released ", In a series of text messages also from April 2015, Balwani seems to acknowledge the poorly timed trip. Plan, focus, stay organized and stay in control. Youve got 11 people who say that they got bad results, but like thats 11 people. Prosecutors likely made the text messages public mid-trial in an attempt to prove that Holmes and Balwani conspired together, said former San Francisco deputy district attorney Michele Hagan. The text could also be used as evidence in front of the jury. Greg's identity is not clear. S2: I was afraid of needles. The jury must find beyond a reasonable doubt that Holmes intentionally bamboozled investors and misled patients in order to convict her. And they were moving. And that these were early stage investments and they should have had a better sense of things. I can confidently say that Ive never told someone that theyre the breeze in the desert, but my text history is still embarrassing as hell. "Can't wait to learn more about conversation with Rupert," Balwani texted in response. There's no question that Ms. Holmes is bright. I sought to change the world. "Private security?" S2: Sherry had breast cancer. This material may not be published, broadcast, rewritten, or redistributed. The court imposes this sentence after consulting the United States sentencing guidelines and in light of the statutory concerns expressed in 18 United States code section 3553(a). A criminal fraud trial for Silicon Valleys former golden girl is underway. Accessibility & Disability; And those two individuals in that small wooden garage in Palo Alto, they created the technology that changed the agricultural economy for this area. My water. Transcript Enlarge this image Former Theranos founder and CEO Elizabeth Holmes leaves the Robert F. Peckham Federal Building with her partner Billy Evans. Text messages between Elizabeth Holmes and Sunny Balwani released U.S. District Judge Edward J. Davila, left, sits with U.S. Supreme Court Associate Justice Anthony M. Kennedy at a panel discussion in 2018. So what was it that caused was it intoxication, as I said, with the fame? Stay up to date with what you want to know. In one text exchange, Theranos CEO and COO were trying to figure out which oftheiremployees was leaking information to theWall Street Journal. Poor operations in the lab was one of Theranos biggest failures, but it wasnt fraud., In the filings that were unsealed over the weekend, Holmes attorneys hammeredBalwani, as they likely will throughout the trial, saying that hecontrolled what [Holmes] ate, how she dressed, and how much money she could spend, who she could interact with essentially dominating her and erasing her capacity to make decisions., Holmes attorneys said in filings that Balwani controlled what [Holmes] ate, how she dressed, and how much money she could spend, who she could interact with essentially dominating her and erasing her capacity to make decisions., The attorneys added that he also restricted Holmes sleep, monitored her movements and insisted that any success she achieved was because of him., The relationship amounted to intimate partner abuse, the attorneys wrote, adding that Holmes is likely to testify herself to the reasons why she believed, relied on and deferred to Mr. Balwani.. The scheme brought her fame, it brought her honor, and it brought her adoration, Leach told the jury. Balwani was both COO of Theranos and Holmes boyfriend. Sign up for notifications from Insider! #Update: General James Mattis says he joined the Board, and invested $85,000 into #Theranos, calling it a significant amount of money for "someone who has been in the government for 40 years.". Thousands were released by the prosecution and more were obtained by CNBC. What was it that caused Ms. Holmes, regrettably, to make those decisions that she did? S2: OK, so theres this database that includes results of Theranos tests, millions of them over the course of a handful of years. I've read her background. S1: said, no, I dont know. These letters speak to a recognition that companies fail, they falter. S2: Yeah, I think its incredibly complicated. NBC Bay Areas Raj Mathai speaks with Business and Tech Reporter Scott Budman and Criminal Defense Attorney Paula Canny about the latest in the Theranos trial -- text message revelations. I mean, I wonder. We know that this valley at one time from the rich earth here supported the world. 2023 NYP Holdings, Inc. All Rights Reserved, Elizabeth Holmes avoids reporting to prison after last-minute appeal of judge ruling, Elizabeth Holmes asks judge to reduce 11-year sentence before heading to prison, Elizabeth Holmes must start 11-year prison term two months after giving birth despite appeal, Forbes mocked as another 30 Under 30 honoree joins the ranks of Elizabeth Holmes, SBF as fraudsters. If you want a pest-free patio this spring, the most important thing you can do is take away those elements that bugs find desirable. The test validation report originally said it was prepared for a doctor, but that was deleted before it was shared with Walgreens. S2: part of it. And one question I had for Rebecca is exactly which Elizabeth Holmes the jury will see, because when Theranos started to unravel, Holmes was argumentative and denied that anything was wrong. This was not a pursuit of it's not like other wire fraud cases where an individual sought riches to buy yachts, cars,and all of those things, and to live a lavish lifestyle. Was it removed by Holmes, Leach asked? I got an inaccurate test versus having a database to back up and say statistically, heres a large percentage of people who got inaccurate tests. AMY OSBORNE/AFP via Getty Images. I was born up the street, and I remember this valley, and the innovation of this valley. delivered emotional testimony to the court, Elizabeth Holmes testifies about alleged sexual and emotional abuse at fraud trial. The letters referenced by venture capitalists and others who mentioned innovation and they talk about the VC world and those types of things.