Disgraced Theranos founder appears in court

Elizabeth Holmes, the Stanford dropout turned startup founder, faces fraud charges and accusations she misrepresented her company's technology to investors.
2:18 | 04/23/19

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Transcript for Disgraced Theranos founder appears in court
The latest on that would-be billionaire now facing bankruptcy and possibly years in jail. Theranos founder Elizabeth Holmes appeared in court as she faces charges of fraud and linsey Davis has that story. Reporter: Good morning. Just a few years ago she was named one of Forbes' richest women in America. Today she is estimated to be worth zero dollars charged within elaborate years' long Freud accused of duping investors out of millions by claiming to have a blood testing technology that prosecutors say her company simply did not have. Elizabeth Holmes, the self-made CEO once worth an estimated $9 billion seen here walking out of federal court in San Jose. The appearance of the former theranos founder comes as the judge is expected to set a trial date in July. She is currently facing charges on wire fraud and conspiracy to commit wire fraud. The now 35-year-old dropped out of Stanford at 19 to start theranos promising to revolutionize the health care industry with a few drops of blood and after modeling her career after tech giants like Steve jobs -- Do you swear to tell the truth -- Reporter: -- The former CEO stands before prosecutors who say she knew it did not work. I don't know at that moment what I understood. Reporter: Holmes was spotted a few weeks ago inside edition capturing a much different side of the former CEO. The once signature black turtleneck she donned gone. Holmes seen here wearing a white t-shirt and cap. A lot of people think it was heartless you were partying at burning man when your company was closing its doors. Reporter: The drama unfolds before America with a slew of cover stories from documentaries to books to the ABC news podcast "The dropout" noweing adapted into a hulu series starring "Snl's" Kate Mckinnon, one of the biggest stars used to the cameras coming under a harsher spotlight. Defense attorneys say they need more time so they can review a million pages of documents. Holmes entered a plea of not guilty. If convicted she could face a tax of 20 years prison and fine of more than $2 million and possible the judge could delay the start of the trial until next year. Linsey, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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