Report Wire - Theranos’ Elizabeth Holmes to be sentenced in September for fraud conviction

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Theranos’ Elizabeth Holmes to be sentenced in September for fraud conviction

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Theranos’ Elizabeth Holmes to be sentenced in September for fraud conviction

Theranos founder Elizabeth Holmes is slated to be sentenced on Sept 26 on her convictions for defrauding buyers within the blood-testing startup, based on a courtroom submitting on Wednesday.
Holmes, 37, was convicted on Jan 3 on three counts of fraud and one depend of conspiring to defraud non-public buyers within the firm. She stays free on a $500,000 bond secured by properties.
Holmes plans to ask the choose overseeing her case to overturn her convictions, based on courtroom filings. If he doesn’t, she is more likely to enchantment and will search to droop her sentence till a last ruling.

The former entrepreneur grew to become a Silicon Valley superstar after claiming Theranos machines might run widespread blood exams on just a few drops from a finger prick. Once valued at $9 billion, Theranos collapsed after the Wall Street Journal printed a collection of articles, beginning in 2015, that recommended its units have been flawed and inaccurate.

Holmes was indicted in 2018 on allegations of defrauding buyers and sufferers. Last week, a jury convicted her on 4 investor-related costs, acquitted her on 4 patient-related costs and deadlocked on three different counts.
Holmes had agreed with prosecutors that her sentencing ought to happen in September, given “ongoing proceedings in a related matter.” The trial of former Theranos government Ramesh “Sunny” Balwani is scheduled to start on March 9.