Jury finds Elizabeth Holmes guilty of fraud
Theranos founder Elizabeth Homes is set to learn her fate today as she is sentenced for defrauding investors of the blood-testing startup.
Prosecutors have asked Judge Edward Davila to sentence the 38-year-old to 15 years in prison and that she pay $800m in restitution for her role in the company’s fraudulent claims.
Assistant US attorney Robert Leach called the case “one of the most substantial white collar offences Silicon Valley or any other district has seen,” and rejected defence attorneys’ characterisation that Holmes had been unfairly victimised, in part by media coverage.
New Jersey Senator Cory Booker was among 140 friends, family and supporters who asked Judge Davila for leniency.
Holmes’ lawyers have cast her as a scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother. They have argued that sending Holmes to prison was “unnecessary” and asked for an 18 month period of home incarceration.
Holmes was convicted in January of three felony counts of wire fraud and one felony count of conspiracy to commit fraud.
