Former employee testifies Elizabeth Holmes’ Theranos lost millions while exaggerating projections to investors

(CNBC) In public, Elizabeth Holmes was dubbed the next Steve Jobs on the cover of Inc. magazine in 2015, but in private the blood-testing company she founded, Theranos, was hemorrhaging hundreds of millions of dollars. On Tuesday, the government’s first witness at Holmes’ fraud trial, longtime Theranos financial controller San Ho Spivey, who also goes by Danise Yam, testified in detail about the actual state of the company’s financial condition.

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