December 10, 2022

At the Holmes Sentenced To eleven Years In Prison Meant for Theranos Fraud

Judge calls Theranos scams “a cautionary tale” designed for Silicon Valley.

Update (1415ET):   U. S. District Assess Edward Davila just  sentenced  Elizabeth Holmes, the felony founder of Theranos found guilty of fraud, to 135 months, or 11. quarter of a century, in prison,   capping the historic downfall associated with what the media and the Clinton Foundation unabashedly dubbed being a “ one-time Silicon Area wunderkind. ”

Prosecutors had requested the judge for a 15-year sentence, while Holmes’ defense attorneys had asked for 1 . 5 years of house arrest.

Ms. Holmes provides 14 days to appeal her conviction.

The judge ordered Ms. Holmes to surrender upon April 27, 2023.

Judge Davila made clear that future prevention was a big part of their rationale for the sentence.

He called the Theranos fraud “ the cautionary tale” for Silicon Valley.

Additionally , the judge said the  court would fixed a date in the future for a listening to on restitution,   having said earlier in the time that he had found sufficient evidence to determine there were at least 10 investors in Theranos who were victims of scams, and that the   total sum they were defrauded was $121. 1 million.

Elizabeth Holmes spoke briefly, and tearfully, to the court before the determine read her sentence.  

“ I am devastated by my failings. Every day for the past years I have experienced deep pain for what people went through because I unsuccessful them, ”   said Ms. Sherlock holmes.

We wonder if her voice in trial was the same fake baritone she used to fraud the ‘ wisest’ of investors…

Holmes’ former boyfriend and Theranos business partner Sunny Balwani in July was found guilty of 12 counts associated with conspiracy and fraud against certain investors and patients.   Balwani will be expected to be sentenced on December 7,   and his attorney was readily available Friday for Holmes’ sentencing.

*  *  *

While everyone is fixated on the disgraced founder of FTX, Mike Bankman-Fried, and his collapsed cryptocurrency exchange, another Silicon Area fraudster, Theranos CEO Elizabeth Holmes, will be sentenced in a federal courthouse Friday,   putting an end towards the years-long saga of her phony blood-testing startup.  

Holmes’ sentencing will take place in a San Jose, California, courtroom where  she was  convicted   recording of three felony counts of wire fraud then one count of conspiracy to commit wire fraud just for scamming investors.  

Federal prosecutors wrote in court papers ahead of the  sentencing listening to that Holmes’ crimes are “ among the most substantial white-collar offenses Silicon Valley, or some kind of other district, has seen” (wait until SBF’s court case… ).  

AP   noted US Region Judge Edward Davila  could sentence Holmes in order to federal prison for 15 years,   slightly less than the federal government’s recommendation of 20 years, even though her lawyers filed a  request to the assess last week for leniency   in the sentencing and  requested 18 months of home confinement instead of jail.  

The request had been accompanied by letters calling meant for leniency from over 140 friends, family, and even Theranos investors,   and also former company employees who seem to described Holmes as a ‘ good person. ‘ 

One of those letters had been penned by Sen.   Cory Booker (D., NJ), who said Holmes “ has within the girl a sincere desire to help others” by fighting environment change and world food cravings.

“ I knew Ms. Sherlock holmes for about six years before charges were brought, ” he continued.  

… and how convenient:

“ Holmes, who is 37 years old, was   visibly pregnant with her second child   at her last courtroom appearance. If Davila hands down a prison sentence, her pregnancy could influence whenever her confinement starts, ”   NPR   pointed out.  

Judge Davila has handled the girl case since the collapse of Theranos after reaching a value of $9 billion. Unlawful defense lawyers recently informed Bloomberg Holmes’ sentencing could send a warning chance to Silicon Valley businesses that run on hopes plus dreams.  

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