Theranos

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Judge Gives Elizabeth Holmes 11 Years for Theranos Fraud

Company founder has to report for prison in April

(Newser) - A federal judge on Friday handed disgraced biotech exec Elizabeth Holmes a prison sentence of more than 11 years for defrauding her investors. Prosecutors had sought a sentence of 15 years after the 38-year-old was convicted earlier this year of misleading investors in her now-defunct Theranos blood-testing company. She had...

Holmes' Lawyers Say She Doesn't Deserve Prison
Prosecutors
Want 15 Years
for Holmes

Prosecutors Want 15 Years for Holmes

Filing calls for $800M in restitution, while defense argues against prison term

(Newser) - Lawyers for Elizabeth Holmes, who was convicted in January of investor fraud and conspiracy, have argued that the Theranos founder shouldn't receive a prison term when she's sentenced for her crimes Friday in San Jose. In their court filing, federal prosecutors made clear that they couldn't disagree...

Lab Director's Visit Is No Game-Changer for Holmes

Judge denies Theranos founder's request for new trial

(Newser) - Elizabeth Holmes will be sentenced Nov. 18 after a federal judge on Monday denied her request for a new trial. US District Judge Edward Davila found that the Theranos founder's motions for a new trial did not contain material new evidence or establish government misconduct. Davila postponed Holmes' original...

Witness' Unexpected Line: Elizabeth Holmes Is Pregnant Again

Former Theranos exec says so in court during hearing

(Newser) - Prosecution witness and former Theranos lab director Adam Rosendorff stood by his earlier testimony during a court appearance in Elizabeth Holmes' fraud trial on Monday. Rosendorff's statements could pave the way for Holmes' sentencing in the case, which was postponed after Rosendorff sought to speak with Holmes following the...

Disgraced Theranos Exec Sunny Balwani Convicted

Jury convicts Elizabeth Holmes' former partner of defrauding investors, patients

(Newser) - Another conviction in the Theranos scandal : A jury on Thursday convicted former executive Ramesh “Sunny” Balwani of collaborating with CEO Elizabeth Holmes in a massive fraud involving the blood-testing company that once enthralled Silicon Valley. The 12 jurors found Balwani guilty on all 12 felony counts of defrauding both...

Sunny Balwani's Trial Could Be Key for Elizabeth Holmes

If he is found guilty, she could potentially use that when arguing for a lighter sentence

(Newser) - Elizabeth Holmes was found guilty in January of defrauding Theranos investors. Now begins the process of determining whether Theranos' former president and COO is guilty of similar crimes. Jury selection starts Wednesday in the trial of Ramesh "Sunny" Balwani, who also had a years-long romantic relationship with Holmes, who...

Sentencing Date Set for Elizabeth Holmes

Theranos founder will remain free on $500K bond until Sept. 26 sentencing

(Newser) - Theranos founder and convicted fraudster Elizabeth Holmes will learn her fate on Sept. 26, according to an order filed by US District Judge Edward J. Davila on Wednesday. Holmes, who turns 38 next month, could face up to 20 years on each of the four fraud charges she was convicted...

It Could Be Years Before Holmes Goes to Prison

Appeals process likely to be long, complicated

(Newser) - After a long, complicated trial for Theranos founder Elizabeth Holmes, the jury delivered a complicated verdict , which could make the appeals process tricky for her lawyers. The jury found Holmes guilty on four fraud counts, not guilty on four others, and they were deadlocked on three more. Lawyers tell the...

Juror Says It Was 'Tough to Convict' the 'Likable' Holmes

Still, juror No. 6 Wayne Kaatz says he and his peers didn't find Theranos founder very credible

(Newser) - On Monday, the jury in the Elizabeth Holmes trial handed down guilty verdicts on four of the fraud and conspiracy charges against the Theranos founder, though it was a "tough" process, one of the jurors now reveals. Wayne Kaatz, aka Juror No. 6, tells ABC News that he and...

Elizabeth Holmes Verdict Marks 'End of an Era' in Silicon Valley

There is a price to pay for lying, some note in reaction to the verdict

(Newser) - When Elizabeth Holmes was found guilty on four counts of fraud Monday , it "signaled the end of an era" in Silicon Valley, writes David Streitfeld at the New York Times . The tech startup world has long blurred the line between hype and actual achievement, but with the Theranos verdict,...

After 43 Hours of Deliberations, Holmes Jury Is Back at It
Holmes Jury Says It Is
Deadlocked on 3 Counts
UPDATED

Holmes Jury Says It Is Deadlocked on 3 Counts

Judge tells them to keep deliberating

(Newser) - Update: The jury in the Elizabeth Holmes case was sent back to the deliberation room Monday after they told the judge they were deadlocked on three of the 11 fraud counts against the former Theranos CEO. The jurors—who began deliberations before Christmas—didn't say which of the counts...

Holmes Jury Won't Have Verdict Before 2022

Closed-door meeting suggests plea deal could be in the works for former Theranos CEO

(Newser) - The jury weighing fraud charges against former Theranos CEO Elizabeth Holmes departed court Wednesday without reaching a verdict after six days of deliberations. It won't resume discussions until after the upcoming New Year's holiday weekend. The eight men and four women on the jury had been expected to...

Theranos Investor Has Unique Plan to Get Money Back

Marc Ostrofsky plans to sell an NFT of his otherwise worthless stock certificate

(Newser) - Like a lot of Theranos investors, Marc Ostrofsky lost a hefty sum when the blood-testing company went broke. But Ostrofsky thinks he has a way to get his $150,000 back, and maybe even more. CNBC reports that he plans to sell his Series A stock certificate as a nonfungible...

Holmes Ends Her Testimony With Denials

Defense rests, but closing arguments won't take place till Dec. 16

(Newser) - The defense wrapped up its case in Elizabeth Holmes' trial Wednesday with her declaration that she didn't mislead investors in her blood tech startup—"Never," she said. "You understand they were entitled to truthful answers about Theranos' capabilities?" a prosecutor asked. "Of course," Holmes...

Elizabeth Holmes Again Struggles Under Cross-Examination

Theranos founder admits she gave journalist incorrect info

(Newser) - Elizabeth Holmes was cross-examined again Tuesday in her fraud trial, and admitted under questioning from prosecutors that she gave journalist Roger Parloff incorrect information for his 2014 Fortune cover story on Theranos. Reading the statement from the article that Theranos offered 200 finger-prick blood tests and would soon offer more...

Elizabeth Holmes Weeps Under Cross-Examination

Cross-examination will continue December 7

(Newser) - One-time entrepreneur Elizabeth Holmes, under questioning by prosecutors, struggled Tuesday to recall key events that led to her facing criminal fraud charges for allegedly fleecing investors and customers of her failed blood-testing startup Theranos, the AP reports. Her cross-examination began the day after she shared painfully vivid memories of alleged...

Elizabeth Holmes Gives Graphic Testimony

Says Ramesh “Sunny” Balwani abused her

(Newser) - On Monday, Elizabeth Holmes testified to what her defense team has long hinted she would: abuse suffered at the hands of her ex-boyfriend, and the former president and chief operating officer of Theranos, Ramesh “Sunny” Balwani. Holmes said she got involved with Balwani shortly after being raped while studying...

Elizabeth Holmes Gives 'Stunning' Testimony

Admits she added Pfizer logo to Theranos reports without drugmaker's authorization

(Newser) - It was Elizabeth Holmes herself who added the logos of drugmakers Pfizer and Schering-Plough to complimentary Theranos lab reports, the Theranos founder admitted during her third day on the stand at her criminal fraud trial. But, Holmes insisted, she didn't mean to mislead business partners or investors, some of...

Line to Hear Elizabeth Holmes Testify Starts at 1am

Theranos founder talks about early days of doomed startup

(Newser) - Elizabeth Holmes took the stand again Monday in her trial on charges of criminal fraud, and the Theranos founder talked about the early days of the blood-testing startup and appeared to try to connect with jurors. Responding to what the AP terms "friendly questions" from her defense team, Holmes...

At Elizabeth Holmes Trial, a 'Sudden,' Maybe Risky Move

In 'surprising' development, defense team brings Theranos founder herself to the stand

(Newser) - The criminal trial of Elizabeth Holmes is set to enter its 12th week, and it ended the 11th week with a "sudden and surprising move" by the defense, which started making its case Friday. To wit: The 37-year-old Theranos founder herself took the stand, striding "confidently" to the...

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