Stock Groups

Theranos’ Holmes to be sentenced in September for fraud conviction -Breaking

[ad_1]

© Reuters. FILE PHOTO, Elizabeth Holmes, former CEO of Theranos, arrives at San Jose Federal Court, California on July 17, 2019. REUTERS/Stephen Lam/File Photo

Jody Godoy

(Reuters] Elizabeth Holmes, Theranos founder and CEO is set to receive her sentence on September 26 in relation to her convictions of defrauding investors at the blood-testing startup. This was according to a court filing Wednesday.

Holmes, 37 years old, was found guilty on January 3 of three fraud charges and one of conspiracy to defraud investors. Her $500,000 property-secured bond keeps her free.

According to court filings, Holmes intends to request that the judge in her case overturn her convictions. Holmes could file an appeal against the judge who is overseeing her case and ask him to overturn her convictions. She may also seek to have her sentence suspended until she receives a final ruling.

After claiming that Theranos machines could perform common blood tests with just a few drops of blood from a finger prick, the former entrepreneur was made a Silicon Valley star. Theranos was once valued at $9Billion. However, The Wall Street Journal published several articles in 2015 that indicated its devices could be flawed or inaccurate.

Holmes was accused of defrauding investors, patients, and other charges in 2018. She was indicted on allegations of defrauding investors and patients. A jury last week convicted her on four counts related to investor fraud. They also acquitted Holmes on four charges related patient fraud.

Holmes and prosecutors had reached an agreement that Holmes’ sentencing would take place in September because of ongoing proceedings in a similar matter.

Ramesh Balwani, a former executive at Theranos, is due to stand trial on March 9.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]