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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.

Previously:
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: 2) by Rosco P. Coltrane on Saturday January 15 2022, @02:34PM (4 children)

    by Rosco P. Coltrane (4757) on Saturday January 15 2022, @02:34PM (#1212920)

    Did anyone but hedge funds lose their pants on this? Were there any regular Joes that lost everything here?

    My understanding is that quite a few Walgreens customers who had their blood genuinely tested by Theranos machines got inaccurate results, upon which important, potentially life-changing medical decisions were based.

    So yeah, average Joes did get hurt. Possibly not very many, but it did happen. It's not just greedy investors - for whom I have zero sympathy.

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  • (Score: 0) by Anonymous Coward on Saturday January 15 2022, @04:39PM (2 children)

    by Anonymous Coward on Saturday January 15 2022, @04:39PM (#1212945)

    She was found not guilty for those charges so what you are saying is legally bullshit.

    • (Score: 3, Insightful) by Rosco P. Coltrane on Saturday January 15 2022, @05:08PM (1 child)

      by Rosco P. Coltrane (4757) on Saturday January 15 2022, @05:08PM (#1212949)

      Just because she herself was found not guilty doesn't mean it didn't happen, just that she was found not to he responsible for it.

      • (Score: 0) by Anonymous Coward on Sunday January 16 2022, @10:55AM

        by Anonymous Coward on Sunday January 16 2022, @10:55AM (#1213098)

        Suckers who take medical tests know what they're getting into. If they choose to believe the result, that's on them. I however use horse viagra for my needs.

  • (Score: 2) by Barenflimski on Sunday January 16 2022, @09:58PM

    by Barenflimski (6836) on Sunday January 16 2022, @09:58PM (#1213261)

    Interesting. I had no idea they had been doing anything but raising money.

    Sorry to hear about your friends. I hope they can reverse whatever they did based on a bad test.