This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Theranos Founder Faces September Sentencing
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Tech > Theranos Founder Faces September Sentencing
Tech

Theranos Founder Faces September Sentencing

Editorial Board Published January 13, 2022
Share
Theranos Founder Faces September Sentencing
SHARE

A federal judge has scheduled a late-September sentencing date for Theranos Inc. founder Elizabeth Holmes, when she could be handed prison time after her fraud conviction.

The Wednesday order from U.S. District Judge Edward Davila comes just over a week after a jury convicted Ms. Holmes of one count of conspiracy to commit wire fraud and three counts of wire fraud for intentionally deceiving investors about her now-defunct blood-testing startup.

The jurors acquitted Ms. Holmes of four counts tied to Theranos patients and failed to reach a unanimous verdict on three others related to defrauding investors, leaving the government with the option of retrying the undecided counts.

Prosecutors, in a filing made jointly Tuesday evening with attorneys for Ms. Holmes, said they will move to dismiss the three hung counts.

The judge set Sept. 26 for sentencing, broadly in line with what prosecutors and Ms. Holmes’s attorneys suggested. That means Ms. Holmes would remain out on bail for at least the next eight and a half months. Her $500,000 bond must now be secured by property, according to the Tuesday filing.

Judge Davila also set a June 16 court date to address motions Ms. Holmes’s defense team is expected to make in the coming months requesting a new trial or a reversal of her conviction.

Each of the four counts that Ms. Holmes was convicted of carries a maximum sentence of 20 years in prison. A review of prior cases indicates she is likely to get far less than the 80 years she could technically face. Judge Davila, who oversaw the monthslong proceeding, will have the final say and, under federal sentencing guidelines, has great leeway in handing down a punishment.

A federal jury convicted Theranos founder Elizabeth Holmes on four of 11 charges. Each count carries a maximum prison sentence of 20 years. WSJ’s Sara Randazzo shares highlights from Holmes’s testimony. Photo: Josh Edelson for The Wall Street Journal

Delaying the sentencing gives the government time to complete another trial tied to Theranos, that of Ramesh “Sunny” Balwani, Ms. Holmes’s top deputy and former boyfriend. He has pleaded not guilty to 12 counts of conspiracy and wire fraud.

Mr. Balwani’s trial is set to begin in mid-March after the latest wave of the coronavirus pandemic delayed a February start date.

At a hearing held by teleconference last week, an attorney for Mr. Balwani pushed back on any further delays, saying his client has waited long enough.

“We’ll be in trial soon,” Judge Davila assured him.

A separate Tuesday evening filing, jointly made by prosecutors and Mr. Balwani’s legal team, shows he has agreed to the new timeline. The filing lays out a March 15 schedule for opening statements for Mr. Balwani’s case.

Prosecutors indicted Ms. Holmes and Mr. Balwani in June 2018, following reporting by The Wall Street Journal that Theranos’s finger-prick blood-testing technology didn’t work and that the company was secretly using commercial machines for the majority of its blood tests.

Jurors heard at Ms. Holmes’s trial that Theranos rolled out its services in Walgreens Boots Alliance Inc. pharmacies for patient use despite employees telling her the blood tests were unreliable. Ms. Holmes told investors Theranos technology had been vetted by major pharmaceutical companies and was being used by the U.S. military, claims that weren’t true, according to evidence presented in trial.

Theranos and the Elizabeth Holmes Trial

Write to Sara Randazzo at [email protected] and Heather Somerville at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the January 13, 2022, print edition as ‘Holmes Faces September Sentencing.’

TAGGED:Tech NewsWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article PCs Faced Tough Fourth Quarter, but Pandemic Supplies a Brace PCs Faced Tough Fourth Quarter, but Pandemic Supplies a Brace
Next Article Jason Momoa, Lisa Bonet split after 16 years together Jason Momoa, Lisa Bonet split after 16 years together

Editor's Pick

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Studying Time: 3 minutes The View co-host Alyssa Farah Griffin is pregnant! On ‘The View,’ Alyssa Farah Griffin breaks the…

By Editorial Board 3 Min Read
Melissa Rycroft Admits to Actually “Struggling” in Wake of DUI Arrest
Melissa Rycroft Admits to Actually “Struggling” in Wake of DUI Arrest

Studying Time: 3 minutes Melissa Rycroft is in a darkish place proper…

4 Min Read
Man fatally shot throughout argument over lady at gathering at Tuscaloosa storage unit; suspect jailed
Man fatally shot throughout argument over lady at gathering at Tuscaloosa storage unit; suspect jailed

One individual was killed and a number of other others injured in…

2 Min Read

Oponion

Chicago taxpayers face Trump’s wrath amid GOP shutdown

Chicago taxpayers face Trump’s wrath amid GOP shutdown

President Donald Trump and his goons canceled one more main…

October 3, 2025

Longtime Tesla Autopilot Executive Departs

A longtime Tesla executive who played…

July 13, 2022

Rory McIlroy completes his profession Grand Slam with rollercoaster Masters win

By DOUG FERGUSON AUGUSTA, Ga. (AP)…

April 14, 2025

Boeing Forecasts Passenger and Cargo Wants of China’s Aviation Business

Darkish/Mild Mode(27/08/24) Boeing has forecast that China…

October 19, 2024

I’m 30 and Coaching for a Marathon—And It is the Most Therapeutic Factor I’ve Ever Achieved

I used to assume coaching for…

August 22, 2025

You Might Also Like

The Finest Noise-Canceling Headphones We have Ever Examined Are on Sale For Prime Day 2025
Tech

The Finest Noise-Canceling Headphones We have Ever Examined Are on Sale For Prime Day 2025

Amazon Prime Day Large Deal Days occasion is right here, and which means (amongst different issues) stable gross sales on…

4 Min Read
It is Time To Bag a Energy Financial institution Discount
Tech

It is Time To Bag a Energy Financial institution Discount

As Amazon continues to develop, its deal occasions you want a eager eye to identify the reductions price performing on.…

10 Min Read
Rating Tech Treasure for Much less in Amazon’s Prime Massive Deal Days
Tech

Rating Tech Treasure for Much less in Amazon’s Prime Massive Deal Days

Amazon's Prime Day sale occasions appear to return round quicker yearly, and that is partly as a result of they're.…

21 Min Read
WIRED’s Favourite Motorola Smartphone Is 0 Off
Tech

WIRED’s Favourite Motorola Smartphone Is $100 Off

Searching for an Android smartphone with a novel twist, and missed out on Prime Day offers? Motorola is coming in…

3 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?