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🧪 Theranos

Evidence in the Theranos case — Journal files, CMS, and trial exhibits

The Theranos record combines 2015 journalism, CMS inspection findings, investor presentations, and two San Jose trial records — a documentary case, not a missing-device mystery.

Juries saw investor decks, emails, text messages, and laboratory validation data. Regulators had already written inspection findings.

The items below are the public pillars. They describe what was shown after the fact, not how to design a misleading test menu.

Exhibits

Exhibit A

Carreyrou series (2015– )

report

The Journal articles collected former-employee accounts and compared the public menu with laboratory practice. They are the first public evidence file, later corroborated in court.

Exhibit B

CMS Form 2567 and sanctions

audit

Survey findings on the Newark laboratory documented quality failures and supported sanctions that voided results and barred Holmes from lab ownership for a period.

Exhibit C

Investor presentations

exhibit

Decks and meetings that claimed pharmaceutical validation, military use, and device capability. The Holmes jury treated key claims as false statements in a scheme to obtain money.

Exhibit D

Emails and texts

document

Messages among Holmes, Balwani, and employees about proficiency testing, third-party analyzers, and what partners were told. Heavily used at both trials.

Exhibit E

Holmes verdict form (2022)

judgment

The January 2022 form records convictions on four investor-related counts and acquittals on others — the precise legal result often misstated in headlines.

Exhibit F

Balwani verdict (2022)

judgment

The July 2022 sweep of convictions, including patient-related counts, is the contrasting jury finding in the same courthouse.

How strong is the record?

Investor-fraud record
90

Two juries and the SEC file align on false investor representations.

Laboratory quality file
85

CMS papers are specific; they are regulatory findings, not the Holmes patient-count verdict.

Patient-count verdicts
60

Split: Holmes acquitted on those counts; Balwani convicted. Do not collapse the two.

Device engineering detail
70

Trial evidence showed limits of Edison; some technical minutiae remain in sealed or dense exhibits.

The evidence problem in Theranos is keeping investor verdicts, patient verdicts, and CMS findings on three separate lines.

Public-record encyclopedia. Not legal advice. Not a how-to. Graphic detail is withheld. Wars belong in a separate atlas.

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