CA - Elizabeth Holmes (Theranos) Wire Fraud Thread *Guilty* #2

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Court delays sentencing for Theranos founder Elizabeth Holmes​

July 13, 2022 / 4:26 PM / CBS San Francisco



Crime

Court delays sentencing for Theranos founder Elizabeth Holmes​


sanfrancisco
July 13, 2022 / 4:26 PM / CBS San Francisco










SAN JOSE (CBS SF) - A federal court delayed the sentencing hearing for Theranos founder Elizabeth Holmes for almost a month.

Holmes was supposed to be sentenced on four cases of fraud on Sept. 26, but that has been delayed until Oct. 17.

The U.S. District court in San Jose, where Holmes was convicted back on Jan. 3 did not give a reason for the delay. more at link: Court delays sentencing for Theranos founder Elizabeth Holmes
 
I shall shorten this up a bit... and corrected - motion hearing was moved after I posted this....

Tuesday, August 2nd:
*Motions Hearing (Judgment for acquittal)-CONTINUED! (@ 1:30pm PT) - CA – for *Elizabeth A. Holmes (34/now 38) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. $500K unsecured bond. Out on bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy. Holmes released on $500K bond secured by property.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection & completed on 9/1/21. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (3 men & 2 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 2 men & 2 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 2 men & 1 woman. 10/22/21: The judge excused Juror #5, moving up the third alternate to replace the juror. Both are women. No word on why the juror was excused. Now jurors are 8 men & 4 women. Alternates: 2 men. Judge Edward J. Davila.
Trial began on 9/8/21 & ended with closing arguments on 12/17/21. Jury began deliberations on 12/17: ½ an hour. 12/20: 6 ½ hours with 1 hour lunch. 12/21: ~7 ½ hours. 12/23: ~7 ½ hours. 12/27: ~7 ½ hours. 12/28: ~7 ½ hours. 12/29: ~7 ½ hours. 1/3/22: 6 hours 20 minutes. Total: ~51 hours.
Verdict on 1/3/22: Count 1 - conspiracy to defraud investors GUILTY, Count 2 - conspiracy to defraud patients NOT GUILTY, Count 3 - wire fraud Alan Eisenman $99k NO VERDICT, Count 4 - wire fraud Black Diamond Chris Lucas $5.3M NO VERDICT, Count 5 - wire fraud Hall Group Bryan Tolbert $4.9M NO VERDICT, Count 6 - wire fraud Brian Grossman $38M GUILTY, Count 7 - wire fraud DeVos family $100M GUILTY, Count 8 - wire fraud former Cravath attorney Dan Mosley $6M GUILTY, Count 9 - wire fraud count for the patient Erin Tompkins who received bogus HIV results NOT GUILTY, Count 10 - wire fraud patient Mehrl K. Ellsworth who received bogus prostate cancer tests NOT GUILTY & Count 11 - wire fraud $1.1M ads that Theranos paid in the Arizona market NOT GUILTY. Government will dismiss counts 3, 4 & 5. Sentencing hearing on 9/26/22 & rescheduled on 10/17/22.
Indictment & court info from 4/11/20 thru 8/26/21 & on 9/30/21 & on 11/2/21 & jury selection (Day 1-3) 8/31 to 9/2/21 & trial & jury deliberations 9/8 thru 1/3/22 (Day 46/Verdict watch: Day 1-8) & 9/8 to 12/16/21 & motions hearing on 11/8, 11/19 & 12/7/21 & charging conference on 12/3 & 12/10/21 reference post #334 here:
https://www.websleuths.com/forums/t...s-theranos-wire-fraud-thread-2.604309/page-17
1/11/22 Update: Status hearing: Holmes sentencing on the four charges she was found guilty of has been proposed for Sept. 12. Holmes’ release would include a $500K bond secured by property. The court filing also said the government will dismiss counts 3, 4 & 5 of the indictment in which the jury deadlocked on. Status hearing on 1/12/22 has been cancelled.
1/18/22 Update: Holmes has filed a motion indicating her legal team is looking for problems in the jury that convicted her in an attempt to get her guilty verdicts for fraud thrown out. The motion, filed Wednesday in U.S. District Court here, was written by an appeals specialist on Holmes’ 10-lawyer team & seeks to keep the original versions of juror questionnaires sealed from public view because “the content of those questionnaires may be the subject of further litigation.” Holmes founded the Palo Alto blood-testing startup in 2003 at age 19. She was found guilty 1/3/22 of four charges of defrauding investors out of a total of $144 million. Her sentencing hearing is scheduled for 9/26/22.
3/1/22: Judge Davila just signed an order modifying Holmes' bond so that it's secured by $500K worth of property. The court document with the address of the property is under seal.
4/8/22: Prosecutors urged a federal judge to brush aside Holmes’s argument that she should be acquitted after a jury convicted her of fraud earlier this year. Lawyers for the former Theranos Inc. chief executive officer previously told U.S. District Judge Edward Davila that the jury’s verdict in her case should be set aside because the evidence at her trial didn’t support it. Government lawyers countered in a court filing Friday that the “overwhelming weight of the evidence admitted at trial supports the jury’s conviction” of conspiracy to commit wire fraud & fraud on Theranos investors.
5/27/22 Update: Holmes asked a judge to toss out her conviction, claiming no rational juror could have found her guilty of conspiracy & wire fraud beyond a reasonable doubt. The request, filed late Friday in federal court in San Jose, California, is a routine & long-shot attempt to overturn a jury verdict. “Even if the judge were to grant this motion, the government would still appeal to the Ninth Circuit” court of appeals, criminal defense attorney Seth Kretzer said. “Prosecutors are heavily trained to present trials with abundant evidence so that even if some part were to fall apart on appeal, there is still enough to sustain at least one count of conviction.” US District Judge Edward Davila has scheduled a hearing in July to consider Holmes’s request. She’s scheduled to be sentenced on 9/26/22. Motions hearing (to hear Motion for Judgment of Acquittal) on 7/21/22.
7/13/22 Update: A federal court delayed the sentencing hearing for Holmes. Holmes was supposed to be sentenced on four cases of fraud on 9/26/22, but that has been delayed until 10/17/22; no reason was given for the delay. 7/21/22 Update: Motions hearing for 7/21/22 has been rescheduled on 8/2/22.
8/2/22 Update: Motions hearing was rescheduled to 9/1/22.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Trial began on 3/22/22 & ended on 7/7/22 with a guilty verdict on all 12 counts. Sentencing hearing on 11/15/22.
 
Last edited:
Well - shoot - I looked this up last night & it was still there - just looked again... and it has been rescheduled...

Thursday, Sep 1 2022

10:00AM
5:18-cr-00258-EJD - USA v. Elizabeth Holmes
Motion Hearing


link: CALENDAR


But - I shall leave my above post -
 
www.nbcbayarea.com

Sentencing for Theranos Founder Elizabeth Holmes Moved to October

A federal court on Wednesday delayed the sentencing for Theranos founder Elizabeth Holmes.
www.nbcbayarea.com www.nbcbayarea.com

7/13/22

A federal court on Wednesday delayed the sentencing for Theranos founder Elizabeth Holmes.

Holmes was set to return to federal court for her sentencing in September, but without explanation the date was moved to October.

[..]

The sentencing date for Elizabeth Holmes has been moved to October 17th. The Theranos founder and CEO was found guilty on 4 counts of investor fraud. Legal experts tell me she is very likely to go to prison.
 
Seattle1 said:
www.nbcbayarea.com

Sentencing for Theranos Founder Elizabeth Holmes Moved to October

A federal court on Wednesday delayed the sentencing for Theranos founder Elizabeth Holmes.
www.nbcbayarea.com www.nbcbayarea.com

7/13/22

A federal court on Wednesday delayed the sentencing for Theranos founder Elizabeth Holmes.

Holmes was set to return to federal court for her sentencing in September, but without explanation the date was moved to October.

[..]

The sentencing date for Elizabeth Holmes has been moved to October 17th. The Theranos founder and CEO was found guilty on 4 counts of investor fraud. Legal experts tell me she is very likely to go to prison.
Click to expand...
Lock her up!
 
GatorFL said:
Lock her up!
Click to expand...

Agreed. It is too bad she is not being held accountable for the number of false tests that people received. This is about people's health! And the abuse of employees was shocking. She gets convicted of fraud, but she did so much more. The psychopathy is epic here.

I have no doubt that her pregnancy and child was a prop.
 
mickey2942 said:
Agreed. It is too bad she is not being held accountable for the number of false tests that people received. This is about people's health! And the abuse of employees was shocking. She gets convicted of fraud, but she did so much more. The psychopathy is epic here.

I have no doubt that her pregnancy and child was a prop.
Click to expand...
I actually think the monetary fraud was far worse. She did little damage with the false testing, IMO.
 
Has anyone watched “The Dropout” series on Hulu? Amanda Seyfried is amazing as Holmes. She really nailed Holms’ affected mannerisms, the head nodding and the jaw clenching smile. Definitely worth watching for anyone who’s followed this scammer and her rise/crash and burn.

I still find it hard to believe that she was able to get away with it for as long as she did. She left so much damage in the wake of her ego trip.
 
Ironically my husband just took an interest in this case a couple of nights ago when he noticed her phony deep voice. He keeps asking me questions like, "Did you know that she had gotten pregnant?". I told him that it's all old news, he's months behind... but he did find a video where she's using her real voice. It's at least an octave higher, and when she uses the phony voice, she lowers her chin, and she tends to not blink. It's creepy.
 
Thursday, Sept. 1st:
*Motions Hearing (Judgment for acquittal) (@ 10am PT) - CA – for *Elizabeth A. Holmes (34/now 38) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. $500K unsecured bond. Out on bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy. Holmes released on $500K bond secured by property.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection & completed on 9/1/21. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (3 men & 2 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 2 men & 2 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 2 men & 1 woman. 10/22/21: The judge excused Juror #5, moving up the third alternate to replace the juror. Both are women. No word on why the juror was excused. Now jurors are 8 men & 4 women. Alternates: 2 men. Judge Edward J. Davila.
Trial began on 9/8/21 & ended with closing arguments on 12/17/21. Jury began deliberations on 12/17: ½ an hour. 12/20: 6 ½ hours with 1 hour lunch. 12/21: ~7 ½ hours. 12/23: ~7 ½ hours. 12/27: ~7 ½ hours. 12/28: ~7 ½ hours. 12/29: ~7 ½ hours. 1/3/22: 6 hours 20 minutes. Total: ~51 hours. Verdict on 1/3/22: Count 1 - conspiracy to defraud investors GUILTY, Count 2 - conspiracy to defraud patients NOT GUILTY, Count 3 - wire fraud Alan Eisenman $99k NO VERDICT, Count 4 - wire fraud Black Diamond Chris Lucas $5.3M NO VERDICT, Count 5 - wire fraud Hall Group Bryan Tolbert $4.9M NO VERDICT, Count 6 - wire fraud Brian Grossman $38M GUILTY, Count 7 - wire fraud DeVos family $100M GUILTY, Count 8 - wire fraud former Cravath attorney Dan Mosley $6M GUILTY, Count 9 - wire fraud count for the patient Erin Tompkins who received bogus HIV results NOT GUILTY, Count 10 - wire fraud patient Mehrl K. Ellsworth who received bogus prostate cancer tests NOT GUILTY & Count 11 - wire fraud $1.1M ads that Theranos paid in the Arizona market NOT GUILTY. Government will dismiss counts 3, 4 & 5. Sentencing hearing on 9/26/22 & rescheduled on 10/17/22.
Indictment & court info from 4/11/20 thru 8/26/21 & on 9/30/21 & on 11/2/21 & jury selection (Day 1-3) 8/31 to 9/2/21 & trial & jury deliberations 9/8 thru 1/3/22 (Day 46/Verdict watch: Day 1-8) & 9/8 to 12/16/21 & motions hearing on 11/8, 11/19 & 12/7/21 & charging conference on 12/3 & 12/10/21 thru 5/27/22 reference post #444 here:
https://www.websleuths.com/forums/t...s-theranos-wire-fraud-thread-2.604309/page-23
7/13/22 Update: A federal court delayed the sentencing hearing for Holmes. Holmes was supposed to be sentenced on four cases of fraud on 9/26/22, but that has been delayed until 10/17/22; no reason was given for the delay. 7/21/22 Update: Motions hearing for 7/21/22 has been rescheduled on 8/2/22.
8/2/22 Update: Motions hearing was rescheduled on 9/1/22.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Trial began on 3/22/22 & ended on 7/7/22 with a guilty verdict on all 12 counts. Sentencing hearing on 11/15/22.
 
www.bloomberg.com

US Asks Theranos Victims to Weigh in Ahead of Holmes Sentencing

The US Justice Department is seeking input from victims of the frauds at blood-testing startup Theranos Inc. committed by Elizabeth Holmes and her second-in-command, Ramesh “Sunny” Balwani.
www.bloomberg.com www.bloomberg.com

August 18, 2022 at 5:07 PM PDTUpdated onAugust 19, 2022 at 8:38 AM PDT

The US Justice Department is seeking input from victims of the frauds at blood-testing startup Theranos Inc. committed by Elizabeth Holmes and her second-in-command, Ramesh “Sunny” Balwani.

The US Attorney’s Office in San Francisco on Thursday issued a “call for information” from victims following the separate convictions of the former executives for their roles in the collapse of the company once valued at $9 billion. The federal judge in San Jose, California, who presided over the trials will use the information in determining their sentences, according to a statement from the office.

[..]

“The government has a duty pursuant to the Mandatory Restitution Act to attempt to ensure that crime victims are made whole for their out of pocket losses as a part of sentencing in a criminal matter,” said Adam Gasner, a criminal defense attorney not involved in the Theranos cases.
 
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