Theranos
San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes must begin serving prison time on May 30 after a court denied her latest request to remain free while appealing her fraud conviction. Holmes was sentenced to just over 11 years in prison for defrauding investors with her Silicon Valley start-up Theranos. She was scheduled to begin doing time behind bars in late April, but her lawyers lodged a last-minute appeal on procedural issues after an earlier attempt was denied. A court of appeals on Tuesday denied the new request and Holmes is to report to prison on May 30 to begin serving h...
AFP
San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes will stay out of prison for now after her lawyers lodged a last-minute appeal to avoid starting her 11 year sentence. Holmes was set to begin her sentence on April 27 after being found guilty in January 2022 for defrauding investors with her Silicon Valley start-up Theranos. Earlier this month, Holmes was refused a request to remain free pending her appeal. Her lawyers on Tuesday informed a US judge that they were appealing that decision, meaning she could remain out of prison for the time it took to decide that request. Holmes wa...
AFP
San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes is to begin serving prison time this month after a judge denied her request to remain free while appealing her fraud conviction. In a ruling Monday night denying a motion by Holmes, US District Court Judge Edward Davila wrote that it is unlikely her appeal will succeed. "The court does not find that she has raised a substantial question of law or fact that is likely to result in reversal or an order for a new trial of all counts," wrote Davila, who presided over Holmes's trial. Holmes was sentenced to just over 11 years in prison fo...
AFP
San José (United States) (AFP) - Elizabeth Holmes's startup Theranos made her a multi-billionaire hailed as the next US tech visionary by age 30, but it all evaporated in a flash of lawsuits, ignominy and, finally, an 11-year prison sentence on Friday. The rise and fall of Holmes, who in January was convicted of defrauding investors of her biotech startup, is a heavily chronicled saga that prompted a hard look at her methods but also the unseemly aspects of startup life. In many ways Holmes fit the image of a Silicon Valley entrepreneur, from her dark-colored turtleneck sweaters that evoked te...
AFP
Washington (AFP) - US federal prosecutors are seeking a 15-year jail term for Theranos founder Elizabeth Holmes and want her to pay more than $800 million to investors defrauded by her blood-testing startup, according to a court filing. "The government recommends the Court sentence the defendant to 180 months in custody and order her to pay $803,840,309 in restitution," said a court filing submitted Friday by US attorney Stephanie Hinds. The toughly worded filing said Holmes had been "blinded by... ambition," and that "her reality-distortion field put, and will continue to put, people in harm’...
AFP
New York (AFP) - A federal judge rejected a motion by Theranos founder Elizabeth Holmes for a new trial following her conviction for fraud, according to a decision seen Tuesday by AFP. Holmes, who was convicted in January of defrauding investors in her blood-testing startup, had argued that a new trial was warranted after a prosecution witness, Adam Rosendorff, came to Holmes's residence to express regret. Attorneys for Holmes argued that Rosendorff's remarks showed the Justice Department had "cherry-picked" from testimony "to make things seem worse than they were," according to a legal brief ...
AFP
San José (United States) (AFP) - A top aide and ex-boyfriend of fallen Theranos founder Elizabeth Holmes went on trial Tuesday in California, with prosecution and defense clashing on allegations Ramesh "Sunny" Balwani helped perpetrate massive fraud at the startup. Holmes was convicted in January of cheating investors in the blood testing company once hailed as revolutionary and valued in the billions of dollars, but which collapsed under claims its technology did not work as promised. US prosecutor Robert Leach told jurors in a federal courthouse in San Jose, the heart of Silicon Valley, that...
AFP
San Francisco (AFP) - A federal judge on Wednesday set a September date for the sentencing of fallen biotech star Elizabeth Holmes, who was found guilty of defrauding investors in her blood-testing startup Theranos. Holmes is a rare example of a tech exec being brought to book over a company flaming out, in a sector littered with the carcasses of money-losing businesses that once promised untold riches. Her case shone a spotlight on the blurred line between the hustle that characterizes the industry and outright criminal dishonesty. Jurors found her guilty of four counts of tricking investors ...
AFP
San Francisco (AFP) - Attorneys on Tuesday asked a judge to delay the sentencing of fallen biotech star Elizabeth Holmes, who was found guilty of defrauding investors in her blood-testing startup Theranos. Holmes is a rare example of a tech exec being brought to book over a company flaming out, in a sector littered with the carcasses of money-losing businesses that once promised untold riches. Her case shone a spotlight on the blurred line between the hustle that characterizes the industry and outright criminal dishonesty. Jurors found her guilty of four counts of tricking investors into pouri...
AFP
San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes was convicted on Monday of defrauding investors in her blood-testing startup Theranos, in a high-profile case seen as an indictment of Silicon Valley culture. Holmes is a rare example of a tech exec being brought to book over a company flaming out, in a sector littered with the carcasses of money-losing companies that once promised untold riches. Her case shone a spotlight on the blurred line between the hustle that characterizes the industry and outright criminal dishonesty. Jurors took seven days of deliberations to reach their ve...
AFP
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