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Former Theranos CEO Elizabeth Holmes to be sentenced on Sept. 26 : NPR



Elizabeth Holmes, heart, leaves federal court docket on Jan. 3 after her verdict in San Jose, Calif. A pass judgement on on Wednesday set her sentencing date for Sept. 26 following her conviction on fraud fees.

Nic Coury/AP


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Nic Coury/AP


Elizabeth Holmes, heart, leaves federal court docket on Jan. 3 after her verdict in San Jose, Calif. A pass judgement on on Wednesday set her sentencing date for Sept. 26 following her conviction on fraud fees.

Nic Coury/AP

Former Theranos CEO Elizabeth Holmes shall be sentenced in past due September, in keeping with an order from the federal pass judgement on overseeing her case.

U.S. District Pass judgement on Edward Davila set Sept. 26 because the day the onetime Silicon Valley famous person shall be punished following a jury convicting her on Jan. 3 of 4 fraud-related fees in reference to the cave in of her former blood-testing corporate, Theranos.

The utmost conceivable penalty 37-year-old Holmes faces is twenty years in federal jail, in keeping with how judges most often sentence defendants in an identical circumstances. However prison mavens say Davila will most likely hand down a a long way much less serious punishment. Nonetheless, given the size of the fraud, within the loads of tens of millions of bucks, mavens say long jail time for Holmes would no longer be sudden.

Holmes will stay loose for the 8 months main as much as her sentencing listening to on a $500,000 bond secured through belongings. She is reportedly residing at a $135 million Silicon Valley property along with her spouse, Billy Evans, who’s the son of San Diego resort multi-millionaire Bill Evans. Holmes and the more youthful Evans lately had a child son in combination.

In March, Ramesh “Sunny” Balwani, the No. 2 at Theranos and Holmes’ former boyfriend, will stand trial on fraud fees in the similar San Jose, California courthouse during which a jury convicted Holmes. Whilst Davila will even preside over Balwani’s trial, a distinct jury will in the end come to a decision the destiny of Balwani, who has pleaded no longer accountable.

Over the process a just about four-month trial, prosecutors referred to as 29 witnesses to make that case that Holmes deliberately deceived traders and sufferers through mendacity concerning the capacity of Theranos’ blood-testing era and pushing deceptive statements about its industry partnerships and monetary outlook.

The jury, following seven days of deliberations, delivered a blended verdict, acquitting Holmes of 4 counts associated with affected person fraud, deadlocking on 3 investor fraud counts, however discovering her accountable of 4 fees connected to her defrauding of traders.

One juror told ABC News that the panel cleared her of the affected person fraud counts as a result of she used to be “one step got rid of” from sufferers who gained false or erroneous Theranos blood check. The juror additionally mentioned when Holmes took the stand over seven days, her testimony didn’t come throughout as credible.

Holmes’ dramatic fall from grace has impressed a imminent Hulu series and a feature film is within the works.

The cave in of Theranos, which formally dissolved in 2018 amid controversy, has additionally brought on debate amongst Silicon Valley startups and mission capital traders about whether or not the business’s tradition that has a tendency to inspire hype, exaggeration and eye-popping reviews enabled the upward thrust of the corporate.

Traders, most commonly outdoor of Silicon Valley, poured some $945 million into Theranos, which in 2014 used to be estimated to be price $9 billion, or, on the time, extra precious than firms like Uber, Spotify and Airbnb.




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