Theranos founder Elizabeth Holmes should spend 15 years in prison and pay $800 million in restitution to investors defrauded in the blood testing start-up, U.S. prosecutors recommended late on Friday. The Department of Justice recommendation, made in a court filing, came as Holmes prepares to be sentenced next week. “Considering the extensiveness of Holmes’ fraud…
Prosecutors Seek 15 Years for Elizabeth Holmes Over Theranos Fraud
Elizabeth Holmes Seeks to Avoid Prison for Theranos Fraud
Elizabeth Holmes urged a judge not to send her to prison, as the founder of Theranos Inc. prepares to be sentenced next week for defrauding investors in the blood testing start-up. In a Thursday night court filing, lawyers for Holmes asked that she receive 18 months in home confinement, followed by community service, at her…
Theranos Founder Holmes Denied Request for New Trial, Court Filings Show
Theranos founder Elizabeth Holmes’ request for a new trial was denied by a federal judge in California late on Monday, court documents showed. In January, Holmes, 37, was found guilty of defrauding investors in the blood testing startup, convicting her on four of 11 counts. She was convicted of investor fraud and conspiracy, but acquitted…
Former Partner of Elizabeth Holmes Wins Delay in Sentencing
SAN JOSE, Calif.—A federal judge on Monday granted a three-week delay in the sentencing of Ramesh “Sunny” Balwani, the former lover and accomplice of disgraced Theranos CEO Elizabeth Holmes, to give probation officers more time to recommend his punishment for engineering a scam tied to Theranos’ blood-testing technology. Balwani, 57, is now scheduled to be…
Prosecution Witness Stands by Testimony in Holmes Trial
SAN JOSE, Calif.—Prosecution witness and former Theranos lab director Adam Rosendorff stood by his earlier testimony during a court appearance in Elizabeth Holmes’s fraud trial on Monday. Rosendorff’s statements could pave the way for Holmes’ sentencing in the case, which was postponed after Rosendorff sought to speak with Holmes following the trial. Rosendorff made an…
Key Witness in Holmes Trial Affirms Testimony Against Her
SAN JOSE, Calif.—A key witness in a trial that led to the conviction of disgraced Theranos CEO Elizabeth Holmes adamantly stood by his testimony during an unusual court appearance Monday. The prosecution witness, former Theranos lab director Adam Rosendorff, made a remorseful appearance at Holmes’s Silicon Valley home after the trial, raising questions about potential…
Judge Declines to Overturn Elizabeth Holmes Guilty Verdict
SAN JOSE, Calif.— A federal judge on Thursday tentatively declined to overturn the jury conviction of disgraced Theranos CEO Elizabeth Holmes on four felony counts of fraud and conspiracy. That leaves the former Silicon Valley star a step closer to serving prison time. U.S. District Judge Edward Davila won’t make that decision final until Oct….
Blood-Testing Tech Entrepreneur Elizabeth Holmes Found Guilty of Fraud and Conspiracy
January 4, 2022
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Theranos founder Elizabeth Holmes was found guilty on Monday of conspiring to defraud investors in her blood-testing startup that she has built into a $9 billion company. A jury in San Jose, California, found Holmes guilty of four of 11 charges of fraud after seven days of deliberations, with each count carrying a maximum sentence…
Holmes Jury Says It’s Deadlocked on 3 of 11 Criminal Charges
SAN JOSE, Calif.—The jury weighing fraud charges against former Theranos CEO Elizabeth Holmes on Monday said it is deadlocked on three of the 11 felony counts against her. Holmes is accused of duping investors and patients about a blood-testing technology that she hailed as a medical breakthrough. After receiving a note from the jury, U.S….
Holmes Jury to Take Break After 6 Days of Deliberation
December 30, 2021
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SAN JOSE, Calif.—The jury weighing fraud charges against former Theranos CEO Elizabeth Holmes departed court Wednesday without reaching a verdict after six days of deliberations. It won’t resume discussions until after the upcoming New Year’s holiday weekend. The eight men and four women on the jury had been expected to continue deliberations on Thursday morning,…
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