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posted by martyb on Friday January 14 2022, @10:00PM   Printer-friendly
from the to-be-determined dept.

Holmes to face maximum of 80 years in prison when she’s sentenced in September:

While she is likely to receive prison time for defrauding investors, she will be able to spend the next eight and a half months out on bail. She faces a maximum sentence of 20 years in prison for each of the four counts she was convicted of, though it’s unlikely that she’ll be sentenced to all 80 years.

Holmes has been out on bail since June 2018, when she and alleged co-conspirator Ramesh “Sunny” Balwani were charged. Both were released after posting $500,000 bonds and surrendering their passports. Now that Holmes has been convicted and is awaiting sentencing, her bond will have to be secured by property. Their trials have been repeatedly pushed back, first because of the COVID pandemic and then later because Holmes gave birth.

Part of the reason Holmes’ sentencing has been postponed is because the government still has to prosecute its case against Balwani.

2022/01/04 - Elizabeth Holmes Found Guilty on 4 of 11 Charges
2020/09/13 - Judge in Theranos Fraud Case Orders 14-Hour Psychological Test for Holmes
2019/07/01 - Theranos Founder Elizabeth Holmes to Face Trial Next Year on Fraud Charges
2018/09/06 - Theranos to Dissolve in a Pool of Blood
2018/06/17 - Elizabeth Holmes Steps Down as Theranos CEO as DoJ Levels Charges
2018/03/15 - Blood Unicorn Fairy Tale: Theranos Founder Charged With Fraud
2017/12/24 - Theranos Given Indirect Lifeline From Softbank
2016/10/06 - Theranos Lays Off 340, Closes Labs and "Wellness Centers"
2016/08/03 - Theranos Introduces New Product to Distract from Scandal

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  • (Score: 1, Touché) by Anonymous Coward on Friday January 14 2022, @10:16PM (3 children)

    by Anonymous Coward on Friday January 14 2022, @10:16PM (#1212786)

    Or you too, will get a life sentence for paper crime

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  • (Score: 1, Insightful) by Anonymous Coward on Sunday January 16 2022, @03:58PM (1 child)

    by Anonymous Coward on Sunday January 16 2022, @03:58PM (#1213148)

    I don't understand this comment. Are you suggesting that she should get a slap-on-the-wrist instead?

    I thought the typical complaint was "embezzle/wage-theft $500 million and get a $1 million fine, steal a $2 stick of gum and get sent to prison for 2 years." Shouldn't her getting a large prison sentence be what people want to have happen?

    • (Score: 0) by Anonymous Coward on Sunday January 16 2022, @06:45PM

      by Anonymous Coward on Sunday January 16 2022, @06:45PM (#1213191)

      Stealing from a rich man is not a crime, it's karma

  • (Score: 2) by mcgrew on Monday January 17 2022, @07:01PM

    by mcgrew (701) <> on Monday January 17 2022, @07:01PM (#1213444) Homepage Journal

    If I steal a million ten dollar bills, it's just a paper crime, isn't it?

    Did you know there is or was a man imprisoned for life in California under their three strikes law for stealing a candy bar? I think her attempt to steal millions of dollars warrants far more jail time than stealing a candy bar. She should have been given an even longer sentence than 88 years, she'll probably be paroled in ten.