Holmes’s lawyers argued that prosecutors want to use her wealth and spending to “inflame” the jury and the subject should be off-limits. Her lifestyle was commensurate with many other CEOs, and doesn’t speak to whether she committed fraud to obtain or maintain it, they’ve argued in court filings.
“The real value of the evidence to the government is to paint a misleading picture of Ms. Holmes as a woman who prioritized fashion, a luxurious lifestyle, and fame, and to invite a referendum on start-up and corporate culture,” they said in the filing.
The government disagreed.
“Theranos’s stock—both literal and figurative—soared as a result of” Holmes’s fraud, prosecutors said in a court filing. “The evidence at trial will show that these benefits were meaningful to the defendant, who closely monitored daily news to cultivate her image.”
Holmes’s lawyers, Kevin Downey and Lance Wade, didn’t immediately respond to emails seeking comment on the ruling.
The case is U.S. v. Holmes, 18-cr-00258, U.S. District Court, Northern District of California (San Jose).
This article was provided by Bloomberg News.