Elizabeth Holmes Sentencing Hearing Set for Sept. 26
According to an order filed on Wednesday by US District Judge Edward J. Davila, the fate of Theranos founder and convicted fraudster Elizabeth Holmes will be decided on Sept. 26. Since Elizabeth Holmes has no criminal record, she is unlikely to receive anything near the maximum sentence for each of the four fraud charges she was convicted of. However, she could face up to 20 years for each of the four fraud charges she was convicted of. Holmes and prosecutors agreed on the delayed sentencing date due to “ongoing proceedings in a related matter” – the trial of Theranos’ former chief operating officer and alleged co-conspirator Ramesh “Sunny” Balwani, which will also be overseen by Davila.
Inside the Trial of Elizabeth Holmes
Amanda Kramer, the former federal prosecutor, tells NPR that it’s not typical to sentence a case eight months out. As a result of Balwani’s trial, some facts established may be relevant to Elizabeth Holmes’ sentencing.” During her trial, Holmes testified that Balwani had physically and emotionally abused her throughout their relationship, which began when she was 18 and he was 38. She is expected to appeal her conviction for bilking investors in the blood-testing startup out of over $100 million, and the appeal process could last for years.
Holmes is free on a $500,000 bond secured by the property for the time being. The New York Times reports that she was found not guilty of four additional fraud charges, and federal prosecutors said this week three charges that the jury couldn’t agree on will be dismissed. Even if Holmes does not receive the maximum sentence, Kramer predicts that she will get some prison time as a warning to other potential Silicon Valley fraudsters. In answer to her question, she asks, “What sentence can deter others from committing fraud instead of owning up to their failures and losing their dreams?”.
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