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

[legalmomma]

What???

https://twitter.com/x/status/1565426158182682625

 

[Seattle1]

I'd say let's squeeze as many billable hours as possible before sentencing!

 

[mickey2942]

I'd say let's squeeze as many billable hours as possible before sentencing!

And the appeal, on and on. This is a definite "Money Train". Must continue to put forth a vigorous and expensive defense. EH definitely landed right side up.

Elizabeth Holmes Is Living Large While Awaiting Her Sentencing

A new Hulu miniseries depicts the rise and fall of the Theranos founder. Here's where she is now.

www.esquire.com

 

[Curious_in_NC]

I had no idea this was being discussed here on Websleuths. I have been aware of Theranos since a potential angel investor asked if my company's technology was compatible with that of Theranos about 7-8 years ago. After looking at their published patents I had to say "I have no idea". They seemed like smoke and mirrors.

But coming next is this. Pro tip: it's a bad idea to claim your assay works with a 250k smaller sample than a company that's already widely regarded as a fraud. I guess the only way to sell your your con is with an even more outrageous con.

Medicare Fraud Case Evokes Theranos Déjà Vu

Another Silicon Valley executive is on trial for defrauding Medicare with lies about its blood test.

www.mddionline.com

According to the affidavit in support of the complaint, Schena touted that Arrayit is the “only laboratory in the world that offers” revolutionary “microarray technology” that allows Arrayit to test for allergy and COVID-19 based on a drop of blood that is 250,000 times smaller than the technology touted by Theranos.

 

[mickey2942]

We have not really discussed Balwani's case, he was convicted on 12 charges of fraud, as opposed to Holmes four charges. Balwani did not testify in his own defense, he was also convicted of charges related to patient fraud as well.

I guess that EH, blaming Balwani for everything almost worked.

Theranos ex-COO Sunny Balwani found guilty on all 12 fraud charges 6 months after founder Holmes' conviction

The jury in the fraud trial of former Theranos executive Ramesh "Sunny" Balwani reached a verdict on Thursday.

www.cnbc.com

 

[mickey2942]

"Integrity of our data". Yeah. Data can be absolutely whatever set of numbers you put in a set. Completely meaningless statement.

Mesmerizing, to people who think that the "Emperor is wearing beautiful new clothes.".

 

[Seattle1]

We have not really discussed Balwani's case, he was convicted on 12 charges of fraud, as opposed to Holmes four charges. Balwani did not testify in his own defense, he was also convicted of charges related to patient fraud as well.

I guess that EH, blaming Balwani for everything almost worked.

Theranos ex-COO Sunny Balwani found guilty on all 12 fraud charges 6 months after founder Holmes' conviction

The jury in the fraud trial of former Theranos executive Ramesh "Sunny" Balwani reached a verdict on Thursday.

www.cnbc.com

We have a separate thread for Balwani.

 

[mickey2942]

We have a separate thread for Balwani.

Yes. But it is interesting to compare the convictions. Why do you think EH was convicted of four counts, to Balwani getting 12 counts? Plus the patient fraud counts.

 

[LinasK]

We have not really discussed Balwani's case, he was convicted on 12 charges of fraud, as opposed to Holmes four charges. Balwani did not testify in his own defense, he was also convicted of charges related to patient fraud as well.

I guess that EH, blaming Balwani for everything almost worked.

Theranos ex-COO Sunny Balwani found guilty on all 12 fraud charges 6 months after founder Holmes' conviction

The jury in the fraud trial of former Theranos executive Ramesh "Sunny" Balwani reached a verdict on Thursday.

www.cnbc.com

Because he has his own thread here.

 

[LinasK]

Yes. But it is interesting to compare the convictions. Why do you think EH was convicted of four counts, to Balwani getting 12 counts? Plus the patient fraud counts.

I think it's because she employed her feminine wiles.

 

[Seattle1]

Yes. But it is interesting to compare the convictions. Why do you think EH was convicted of four counts, to Balwani getting 12 counts? Plus the patient fraud counts.

More important is what the jurors that saw all the relevant evidence and heard witness testimony thought! Seems the verdict on each charge came down to the credibility of the witnesses and what they believed about EH's intent.

Jury in Elizabeth Holmes Trial Seized on Two ‘Smoking Guns’ to Convict Theranos Founder, Juror Says

The four women and eight men deliberated in a fifth-floor courtroom hour after hour, grappling over whether Elizabeth Holmes had defrauded large Theranos investors about her blood-testing startup.

www.wsj.com

 

[Curious_in_NC]

For anyone who thinks this is something new in medical diagnostics, there's actually a long history of fraud. Theranos set a new bar, though, in striking it rich and finding the clueless investors with by far the deepest pockets yet.

A couple of past examples from the worlds of continuous glucose monitoring and drug testing:

https://medtech.pharmaintelligence.informa.com/MT006781/Futrex-false-claims-about-Dream-Beam-blood-glucose-monitor-alleged-in-SEC-complaint

https://www.washingtonpost.com/archive/business/1996/09/24/sec-accuses-gaithersburg-firm-of-fraud/f2e273da-d303-4be2-9746-f3ff2fe35075/

The suit alleges that, during meetings with potential investors, Rosenthal used the machine on himself and claimed it had accurately read his blood sugar when in fact he had directed a Futrex employee "to program a Dream Beam to function as if it were giving a glucose reading."

"The Dream Beam readings Rosenthal demonstrated at investor meetings were meaningless and intended solely to deceive potential investors," the SEC said.

Federal Suit Alleges ‘Staggering’ Urine Drug Testing Fraud At Tennessee Pain Clinics

Tennessee company’s Medicare billings for urine tests were examined by Kaiser Health News in 2017.

khn.org

One of the whistleblowers said he toured the lab with CPS executives and observed an “overpowering and unpleasant smell of urine.” In response, a CPS executive said, “To me, it smells like money,” according to the whistleblower’s suit.

 

[Niner]

Don't know if this site has been updated, but it does still have her sentencing date.

A sentencing hearing has been set for Elizabeth Holmes for October 17, 2022.

link: U.S. v. Elizabeth Holmes, et al.

 

[Countem]

Elizabeth Holmes Claims Witness Remorse in New Trial Request

Theranos Inc. founder Elizabeth Holmes asked for a new trial, claiming a key witness in her criminal case visited her after the verdict and expressed misgivings about his testimony.

www.bloomberg.com

Theranos Inc. founder Elizabeth Holmes asked for a new trial, claiming a key witness in her criminal case visited her after the verdict and expressed misgivings about his testimony.

Holmes said in a Tuesday court filing that Adam Rosendorff, a former Theranos lab director, showed up at her home on Aug. 8 and explained to her partner that his testimony last fall had been twisted by prosecutors.

Elizabeth is asking for a new trial. Sigh.

 

[mickey2942]

Elizabeth Holmes Claims Witness Remorse in New Trial Request

Theranos Inc. founder Elizabeth Holmes asked for a new trial, claiming a key witness in her criminal case visited her after the verdict and expressed misgivings about his testimony.

www.bloomberg.com

Elizabeth is asking for a new trial. Sigh.

Of course. Waiting for a juror to be disqualified for some reason next.

There is an entire playbook on the strategy, done by DUI conviction John Goodman, Polo Club owner/player, heir...he has had millions to spend on his defense...he is incarcerated, but he delayed it for years. And he is still working on new strategies for appeals, dismissal, reduction of sentence...on and on...

 

[LinasK]

Of course. Waiting for a juror to be disqualified for some reason next.

There is an entire playbook on the strategy, done by DUI conviction John Goodman, Polo Club owner/player, heir...he has had millions to spend on his defense...he is incarcerated, but he delayed it for years. And he is still working on new strategies for appeals, dismissal, reduction of sentence...on and on...

It worked for Scott Peterson, but fortunately not for Ghislane Maxwell.

 

[Seattle1]

What???

https://twitter.com/x/status/1565426158182682625

Well, now we know the new information.

Elizabeth Holmes Claims Witness Remorse in New Trial Request

Theranos Inc. founder Elizabeth Holmes asked for a new trial, claiming a key witness in her criminal case visited her after the verdict and expressed misgivings about his testimony.

www.bloomberg.com

9/6/22

The misgivings that Rosendorff voiced, absent any statement that he lied or didn’t testify accurately, probably won’t convince the judge that Holmes deserves a new trial, according to Michael Weinstein, a criminal defense attorney not involved in the case.

“A witness having second thoughts and how they were generally perceived is not new in criminal trials but often don’t lead to new trials or much of anything,” Weinstein said in an email. “The burden for that is simply too high.”

Holmes, 38, was found guilty of defrauding investors and conspiracy for her role in the collapse of the blood-testing startup she founded that reached a peak valuation of $9 billion. Her ex-boyfriend and former Theranos President Ramesh “Sunny” Balwani was convicted in July of similar counts, as well as defrauding patients.

US District Judge Edward Davila on Tuesday issued an order rejecting Holmes’s long-shot attempt to get her fraud conviction thrown out, saying there was “sufficient evidence” for the jury to reach its verdict. Holmes’s bid for a new trial is another gamble that almost all white-collar criminal convicts make, and rarely win.

 

[Seattle1]

What a joke! Adam Rosendorff, ex-lab director at Theranos, was the primary source for the WSJ expose on Theranos.

Key Theranos Witness Tied by Holmes to Other Troubled Labs

A former Theranos Inc. lab director who was the primary source for media reporting that took down the company came under fire from Elizabeth Holmes’s lawyers over his work for another medical startup that fell into scandal.Adam Rosendorff, a medical doctor who testified as a government witness...

www.bloomberg.com

 

[Niner]

from the Judge's docket:

Monday, Oct 17 2022

01:30PM
5:18-cr-00258-EJD - USA v. Elizabeth Holmes
Sentencing

link: CALENDAR

 

[LinasK]

Well, now we know the new information.

Elizabeth Holmes Claims Witness Remorse in New Trial Request

Theranos Inc. founder Elizabeth Holmes asked for a new trial, claiming a key witness in her criminal case visited her after the verdict and expressed misgivings about his testimony.

www.bloomberg.com

9/6/22

The misgivings that Rosendorff voiced, absent any statement that he lied or didn’t testify accurately, probably won’t convince the judge that Holmes deserves a new trial, according to Michael Weinstein, a criminal defense attorney not involved in the case.

“A witness having second thoughts and how they were generally perceived is not new in criminal trials but often don’t lead to new trials or much of anything,” Weinstein said in an email. “The burden for that is simply too high.”

Holmes, 38, was found guilty of defrauding investors and conspiracy for her role in the collapse of the blood-testing startup she founded that reached a peak valuation of $9 billion. Her ex-boyfriend and former Theranos President Ramesh “Sunny” Balwani was convicted in July of similar counts, as well as defrauding patients.

US District Judge Edward Davila on Tuesday issued an order rejecting Holmes’s long-shot attempt to get her fraud conviction thrown out, saying there was “sufficient evidence” for the jury to reach its verdict. Holmes’s bid for a new trial is another gamble that almost all white-collar criminal convicts make, and rarely win.

I agree. It's kind of ridiculous that now he has second thoughts about his testimony, therefore she's not guilty. Smacks of desperation to me. Sentence her already!