Her main excuse is that she was manipulated by her COO but it seems unlikely. As evil as defrauding investors can be she was it. She also seemed pretty comfortable scamming medical techs and patients. There's just no way she didn't know she was selling snake oil. Maybe she started out with pure wishful thinking that if she talked enough she could will her device into existence but once it started actually testing blood it was way past the line. She was the CEO, she knew it was fake technology, she lied at every opportunity.