Holmes of Theranos to be sentenced in September for fraud

Holmes had agreed with prosecutors that his conviction should take place in September, given “ongoing proceedings in a related case.”

Reuters

January 13, 2022, 11:00 a.m.

Last modification: January 13, 2022, 11:00 a.m.

Former Theranos CEO Elizabeth Holmes arrives for a hearing in federal court in San Jose, California, United States, July 17, 2019. Photo: Reuters

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Former Theranos CEO Elizabeth Holmes arrives for a hearing in federal court in San Jose, California, United States, July 17, 2019. Photo: Reuters

Theranos founder Elizabeth Holmes is expected to be sentenced on September 26 for defrauding investors in the blood testing startup, according to a court file filed Wednesday.

Holmes, 37, was convicted on January 3 of three counts of fraud and one count of conspiring to defraud private investors in the company. She remains free on a $ 500,000 bond secured by properties.

Holmes plans to ask the judge handling his case to overturn his convictions, according to documents filed by the court. If he does not, she is likely to appeal and could request a suspension of her sentence until a final decision is made.

The former entrepreneur has become a Silicon Valley celebrity after claiming that Theranos machines can perform routine blood tests on a few drops from a finger prick. Once valued at $ 9 billion, Theranos collapsed after the Wall Street Journal ran a series of articles, starting in 2015, suggesting its devices were faulty and inaccurate.

Holmes was indicted in 2018 on allegations of investor and patient fraud. Last week a jury found her guilty of four investor-related counts, acquitted her of four patient-related counts and found herself in a deadlock on three other counts. .

Holmes had agreed with prosecutors that his conviction should take place in September, given “ongoing proceedings in a related case.”

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