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

Accepted submission by Freeman at 2022-01-13 18:14:53 from the to be determined dept.

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 []
2014/10/05 - LinkedIn's Top 10 Silicon Valley Startups for 'Talent Brand' []

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