Elizabeth Holmes sentencing proposed for September
Elizabeth Holmes (Theranos founder) and her family depart the Robert F. Peckham Federal Building, U.S. After the jury found Holmes guilty of four charges in San Jose (Calif.) on Monday, January 3, 2022, Courthouse
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Elizabeth Holmes is a former Theranos CEO. who was convicted of federal fraud charges last weekHe will be released on a $500,000 secured bond by his property.
In addition, the court filing stated that the government would dismiss the counts 3 through 5 of the indictment.
Three dropped counts refer to Black Diamond Ventures investors Chris Lucas and Bryan Tolbert of Hall Group. Holmes, Holmes and her blood-testing company were misled by all three of their investors.
Over its entire existence, Theranos has raised more than $945 million in investors.
According to the proposed stipulation, which was filed jointly by Holmes’ attorneys and government, “the parties agreed that a sentencing hearing after Labor Day 2022 would make sense in light of continuing proceedings in a similar matter.”
It refers to fraud charges against Ramesh Balwani, a former president of Theranos and Holmes’ boyfriend and top executive at that time, as well as Ramesh Balwani.
This court filing sets out a deadline for each side to file their post-trial motions. The joint motion would have to be approved by Edward Davila, U.S. District Court Judge.
Holmes was found guilty after more than 50 hours spent deliberating. She is charged with three counts of wire fraud as well as one count of conspiracy for wire fraud related to lying to investors. Fourteen women and eight men convicted Holmes of lying to patients. On three charges relating to investors, the jury was unable to reach an unanimous verdict.
Balwani has pleaded not guilt and is now facing the same charges in another trial, which has been delayed to March because of the Covid surge.