According to a court filing on Wednesday, Theranos founder Elizabeth Holmes is slated to be sentenced on Sept. 26 on her convictions for defrauding investors in the blood-testing startup.
Holmes, 37, was convicted on Jan. 3 for
- three counts of fraud; and,
- one count of conspiring to defraud private investors in the company.
Holmes remains free on a US$500,000 bond secured by properties.
According to the court filings, Holmes is apparently planning to ask the judge overseeing her case to overturn her convictions.
If the judge does not overturn the convictions, she is likely to appeal and could seek to suspend her sentence until a final ruling.
Holmes, a former entrepreneur, became a Silicon Valley celebrity after claiming Theranos machines could run common blood tests on a few drops from a finger prick. The company was once valued at US$9 billion, Theranos collapsed after the Wall Street Journal published a series of articles, starting in 2015, that suggested its devices were flawed and inaccurate.
Holmes was indicted in 2018 on allegations of defrauding investors and patients.
In the month of January, 2022, a jury convicted her on four investor-related charges, acquitted her on four patient-related charges and deadlocked on three other counts.
Holmes had agreed with prosecutors that her sentencing should occur in September, given “ongoing proceedings in a related matter.”
The trial of former Theranos executive Ramesh “Sunny” Balwani is scheduled to begin on March 9.
This article was originally sourced by www.ctvnews.ca.