After being found guilty in January on four counts each of defrauding investors, elizabeth holmes sentencing, the disgrace founder and CEO of Theranos will be sentence to prison on November 18. Holmes, who was the youngest female billionaire self-made, could spend up to 20 years prison for each of four fraud charges.
Holmes tried to delay sentencing by asking for a new trial. She claimed that new evidence had been discovered. Holmes was visited by Adam Rosendorff, former director of Theranos’ lab, in August to try and find closure.
Rosendorff was a Theranos employee between 2013-2014 and testified six days during Holmes’ four month trial. Rosendorff’s highly technical knowledge of Theranos’ labs was crucial to the trial.
He testified that Holmes knew Theranos’ technology could produce inaccurate results from blood tests, but she insisted on its use for patients. He quit Theranos after repeatedly raising concerns about the flawed technology.
Holmes’ lawyers claimed that Rosendorff made Theranos look worse when he visited her summer home. These allegations were not supported by Judge Edward Davila.
Rosendorff confirmed that the testimony from last year was true. Rosendorff clarified that he felt sorry about Holmes’ child and would not wish to see her go to prison.
Holmes’ legal team will likely appeal the sentencing next week, prolonging the legal process and causing delays after a long-delayed trial. Ramesh Balwani, Holmes’ ex-boyfriend and Theranos COO is due to be sentenced in December 7. Holmes was convicted on four counts related to fraud concerning investors. Balwani was convict on all 12 counts defrauding investors and patients.
The jury reached a verdict after seven days of deliberations and four months of court proceedings.
This verdict will have long-lasting implications for Silicon Valley and the rest of Silicon Valley. For two charges, the former youngest and most successful female self-made billionaire was convicted. Continue reading
Sunny Balwani, former Theranos COO, and ex-boyfriend to disgrace founder Elizabeth Holmes has been found guilty of all 12 criminal charge following a three-month trial. After a three-month trial, Holmes was found guilty on all 12 criminal charges.