Category Archives: Theranos

Elizabeth Holmes’ 11-year prison sentence shortened by two years

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Release date changed to 2032, records show, but reasons for change are unclear

Elizabeth Holmes’ prison sentence was quietly shortened by two years, new records show.

An update to Holmes’ profile on the website of the Bureau of Prisons now projects her release date as 12 December 2032, two years sooner than initially scheduled. A spokesman for the federal agency confirmed the update but said he could not comment further citing “privacy, safety, and security reasons” for inmates.

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Elizabeth Holmes to begin 11-year prison sentence at end of month

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Federal judge denies Theranos founder’s request to remain free while she appeals her conviction of fraud and conspiracy

Elizabeth Holmes must begin her more than 11-year prison sentence on 27 April after a federal judge denied the disgraced Theranos founder’s request to remain free while she appeals her conviction.

Holmes, who was convicted on four counts of fraud and conspiracy related to the failed blood-testing startup in January 2022, is “not likely to flee or pose a danger” to the public, US district court judge Edward Davila wrote in his ruling. However, the San Jose-based judge found that her appeal was unlikely to result in a reversal of the verdict or a new trial – a requirement for a defendant to remain free post-conviction.

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Elizabeth Holmes tried to ‘flee’ US with one-way Mexico ticket, prosecutors say

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New court filing says ex-Theranos founder booked flight departing 26 January last year, shortly after fraud conviction

The disgraced founder of Theranos, Elizabeth Holmes, made an “attempt to flee the country” by purchasing a one-way ticket to Mexico after she was found guilty on four counts of fraud last January, according to prosecutors.

In the new filing on Thursday, prosecutors said that “contrary to defendant’s assertion that she has a ‘flawless record with US Pretrial Services’ and claim that no evidence suggests she will flee while she pursues her appeal … the incentive to flee has never been higher and defendant has the means to act on that incentive.”

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Ex-secretary of state George Shultz was besotted by Theranos fraudster Holmes, book says

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He was either ‘corrupt’, ‘in love’ or had ‘completely lost’ his mental edge, says grandson who blew whistle on Holmes’s scheme

Former US secretary of state George Shultz’s support for Elizabeth Holmes and her fraudulent blood testing company, Theranos, which devastated his family and caused a bitter feud with his grandson, receives fresh scrutiny in a biography published on Tuesday.

Shultz was Ronald Reagan’s top diplomat at the end of the cold war. Before that, he was secretary of the treasury and secretary of labor under Richard Nixon. He is now the subject of In the Nation’s Service, written by Philip Taubman, a former New York Times reporter.

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Theranos founder Elizabeth Holmes sentenced to more than 11 years for defrauding investors

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The harsh ruling sends a message to Silicon Valley that the government will hold founders accountable for what’s promised

Elizabeth Holmes, founder of Theranos, has been sentenced to more than 11 years in prison over her role in the blood testing firm that collapsed after its technology was revealed to be largely fraudulent.

Holmes was convicted in January on four counts of defrauding investors. She appeared on Friday afternoon at the San Jose, California, courthouse where her nearly four-month-long trial began in August 2021, alongside relatives and supporters, including her partner, Billy Evans.

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Elizabeth Holmes prosecutors seek 15-year sentence and $800m in restitution

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Theranos founder faces maximum of 20 years in prison after she was found guilty of fraud and conspiracy

Federal prosecutors are asking a judge to sentence Elizabeth Holmes to 15 years in prison and require the Theranos founder to pay $800m in restitution, according to court documents filed on Friday.

A jury found Holmes guilty in January of four counts of investor fraud and conspiracy. Her sentencing is scheduled for 18 November, and she faces a maximum 20 years in prison.

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Former Theranos exec Sunny Balwani convicted of 12 counts of fraud

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The decision by California jurors brings to close a 13-week trial of Elizabeth Holmes’ former lover and business partner

The former Theranos executive Sunny Balwani has been convicted on all 12 fraud charges brought against him for his role at the now-defunct blood testing company.

The decision closes the final chapter of Theranos’ legal saga, nearly eight years after serious concerns were raised about the startup’s blood testing technology. The conviction of Balwani, who at one point oversaw the Theranos lab and put millions of his own fortune into the company, also marks a more severe judgment than that of his former lover and business partner Elizabeth Holmes, who was convicted of only four of 11 of the same charges in January.

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Elizabeth Holmes looms large on first day of Sunny Balwani’s Theranos trial

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Prosecutors portray ex-executive as accomplice in a health scam while defense paints picture of well-meaning businessman

The specter of Elizabeth Holmes loomed over the opening day of a trial that will determine whether Ramesh “Sunny” Balwani, her former romantic and business partner at Theranos, was also her partner in crime.

Tuesday marked the opening of a case slated to begin last week, which was delayed by a Covid-19 exposure.

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Sunny Balwani’s Theranos trial delayed after possible Covid exposure

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Ex-executive faces same charges as his former romantic and business partner in Silicon Valley scandal

The trial of Ramesh “Sunny” Balwani, the former romantic and business partner of Elizabeth Holmes, was reportedly delayed on Wednesday after a possible Covid-19 exposure forced a judge to send a full courtroom home.

Wednesday was meant to be the day that Balwani finally has his first chance to defend himself against charges that he was Holmes’ accomplice in a Silicon Valley scam that brought down the blood-testing startup Theranos.

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Elizabeth Holmes: from ‘next Steve Jobs’ to convicted fraudster

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Founder of blood-testing company Theranos spun ‘alluring narrative that everyone wanted to believe’

Just six years ago Forbes magazine declared her the “the world’s youngest self-made female billionaire” and the “next Steve Jobs”. Now, Elizabeth Holmes, 37, founder of the collapsed blood testing company Theranos, is facing decades in prison after being found guilty of conspiring to defraud her investors out of billions.

Holmes, a university dropout with no medical training, had fooled regulators and some of the world’s richest people, including Rupert Murdoch, Henry Kissinger and Larry Ellison, into believing she had figured out a way to test for a range of health conditions with just a pinprick of blood.

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Elizabeth Holmes trial: jury finds Theranos founder guilty on four fraud counts

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The jury delivered the verdict after announcing they were deadlocked on three of the 11 charges Holmes faced

Elizabeth Holmes, founder of Theranos, has been found guilty on four of 11 charges of fraud, concluding a high profile trial that captivated Silicon Valley and chronicled the missteps of the now-defunct blood testing startup.

The jury found Holmes guilty of several charges – including conspiracy to defraud investors – following a dramatic day in which jurors said they remained deadlocked on three of the criminal counts she faced.

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‘Selling a promise’: what Silicon Valley learned from the fall of Theranos

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The company’s collapse has changed the startup environment, but some say the industry still hasn’t faced a ‘true reckoning’

A charismatic young leader, billions of dollars in valuations and a technology that promised to change the world but failed to deliver: the meteoric rise and fantastic fall of the medical tech startup Theranos has been seen by many as an indictment of the hype-train attitude of Silicon Valley.

Nearly 20 years after Theranos’s launch, its CEO, Elizabeth Holmes, is headed to trial, charged with defrauding clients and investors. Silicon Valley is facing a public that’s wary of its methods and intentions – but the verdict is still out on whether startup culture has fundamentally changed.

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Elizabeth Holmes: from Silicon Valley’s female icon to disgraced CEO on trial

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Once the world’s youngest female self-made billionaire, the former head of Theranos is facing fraud charges and possible jail time

The rise and fall of the blood testing startup Theranos turned the tech world upside down and captured the attention of millions beyond Silicon Valley, inspiring multiple books, documentaries and a television series.

Theranos set out to revolutionize the medical testing space, reaching a valuation of $10bn before the capabilities of its core technology were revealed to be largely fabricated. Now, its founder and former leader, Elizabeth Holmes, is about to face the music.

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Case vs. Theranos troubling

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Of greatest importance now in the criminal case involving the Silicon Valley, Calif., blood-testing company Theranos is not whether the company's two leaders will receive adequate punishment if convicted. Rather, the immediate concern must be whether any of the medical patients who were victims of the company's alleged misdeeds suffered serious or irreparable harm as a result of the unconscionable conduct of which the company is accused.

Donald Trump being elected president ‘would TANK the economy by up to 15 per cent’

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