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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: 4, Interesting) by Beryllium Sphere (r) on Saturday January 15 2022, @07:08PM

    by Beryllium Sphere (r) (5062) on Saturday January 15 2022, @07:08PM (#1212978)

    No parole in federal.

    But you're right that "up to" is a red flag in a headline. A former US attorney at the Popehat blog who made a living knowing the sentencing guidelines thinks 20 years is plausible. With good behavior, 15% off.

    Starting Score:    1  point
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       Interesting=1, Informative=1, Total=2
    Extra 'Interesting' Modifier   0  
    Karma-Bonus Modifier   +1  

    Total Score:   4