Veronica Sawyer
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Ugh is right. This news has ruined what is left of the week for me.
CA - Elizabeth Holmes (Theranos) Wire Fraud Thread *Guilty* #2
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Seattle1
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OK, just checked the Balwani thread and the Appellate rendered a decision in 3 weeks. It was the Judge that did not order him to report for two more weeks (April 20).
GUILTY - CA - Ramesh “Sunny” Balwani, 56, (Theranos), wire fraud charges
He found a way to stay out of prison!!! GRRRR! Incredible! Ex-Theranos exec finds way to delay start of prison sentence
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I am going to post this anyway - that way I can shorten this up a bit - getting too long with all these delays....
Thursday, April 27th:
*Surrender for Prison Sentence-Appeal stopped prison surrender! (@ 2pm PT) - CA – *Elizabeth A. Holmes (34/now 39) (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. San Jose U.S. District Federal Court
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. Trial began on 9/8/21 & ended with closing arguments on 12/17/21. Jury began deliberations on 12/17/22 thru 1/3/23: 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 & rescheduled to 11/18/22. Judge Edward Davila denied all 3 of Holmes’ motions requesting new trial. Judge Ed Davila sentenced Elizabeth Holmes to 11 years & 3 months (135 months) in prison plus 3 years of supervised release on 11/23/22. The judge set a surrender date for 4/27/23. Surrender date was postponed after defense attorneys again filed an appeal.
Judge Edward Davila recommended Holmes be sent to the minimum-security women's federal prison, Camp Bryan, about 100 miles north of Houston, to serve at the Federal Prison Camp in Bryan, Texas (a shared dormitory in Camp Bryan).
Indictment & court info from 4/11/20 thru 3/4/23 reference post #738 here:
https://www.websleuths.com/forums/t...s-theranos-wire-fraud-thread-2.604309/page-37
3/7/23 Update: Holmes is fighting a demand to pay nearly $900 million in restitution to investors in her failed company. In a recent court filing, Holmes hit back at a motion from prosecutors that she repay the full $878 million that investors put up to back her medical testing startup, which imploded when her claims about the technology were revealed as false. Holmes' attorneys argue that there is no proof that the investors put their money into Theranos as a result of her fraudulent claims, or that her crimes were responsible for the company's collapse. The record thus contains little to no information regarding the circumstances of many investors' decisions to invest, including what information they considered, relied on, or found important. The defense motion also points out that US District Judge Edward Davila previously ruled that prosecutors had not established that Theranos collapsed because of Holmes' criminal conduct. 'Together, these findings—which the government does not contest in its restitution submission—preclude attributing the entire decline in Theranos' value to the offense conduct,' the motion argues. Her attorneys have previously argued that she has essentially no assets, though in court filings they have said she is pursuing several patents. Any restitution order could apply to Holmes' future assets & income, meaning that she could face garnishment if she returns to work after she completes her prison sentence. Motions hearing on 3/17/23 re: for release pending appeal, motion to strike & restitution hearings.
3/17/23 Update: Holmes returned to federal court in San Jose, Calif. on Friday asking to delay her report date to prison next month while she appeals her conviction. A lawyer for Holmes cited several reasons explaining why she’s not a flight risk which included her young children & that she’s been free on bail for more than a year without fleeing. However, the government pointed to a one-way ticket Holmes & her partner, Billy Evans, had booked to Puerto Vallarta, Mexico days after her conviction. Holmes is also fighting with prosecutors over how much restitution she should pay. Prosecutors want her to pay nearly $900 million while Holmes argues the government failed to prove investors relied on her representations. U.S. District Court Judge Edward Davila plans to make a ruling on both motions in early April.
4/10/23 Update: Order Denying Motion for Release pending Appeal. U.S. District Judge Edward J. Davila denied Holmes' request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion. She is scheduled to surrender on 4/27/23. "Accordingly, even if the Ninth Circuit finds error in this ruling, it is unlikely that it would result in a reversal or a new trial on all of Ms. Holmes' convicted counts." The court is still expected to rule on the government's request for Holmes to repay Theranos investors to the tune of nearly $900 million. The figure, prosecutors argued, represents the full extent of investments made over the course of Theranos' existence. Attorneys for Holmes characterized the dollar amount as egregious given that Holmes was convicted of defrauding only some of the investors who backed the startup. U.S. Assistant Attorney Robert Leach argued that every dollar invested in Theranos should be repaid to its various investors.
4/17/23 Update: In a brief filed Monday with the US Court of Appeals for the 9th Circuit, Holmes's attorneys claim her original trial was flawed, producing an "unjust" conviction & a "severe" prison sentence. They argue that she was unjustly barred from citing Balwani's testimony in her own defense. "Balwani's testimony is compelling evidence corroborating Holmes's defense that she did not intend to defraud investors with the financial projections or conspire with Balwani to do so," the attorneys wrote. Balwani was convicted on 12 counts & sentenced last December to 13 years in prison. Holmes's defense team also argued that testimony from Theranos' former lab director, Dr. Adam Rosendorff — that the company's technology was "uniquely problematic" — improperly influenced the court, citing the fact that Rosendorff was not cross-examined & questioned about failings in other labs at which he worked. For those reasons, the court "should reverse the conviction & remand for a new trial or, alternatively, remand for re-sentencing," Holmes's lawyers wrote.
4/25/23 Update: Holmes will not go to prison this week, despite a judge’s order that she begin serving her 11-year sentence on Thursday, 4/27/23. Late Tuesday, Holmes’ attorneys appealed that ruling to the U.S. 9th Circuit Court of Appeals in San Francisco. Under the court’s rules, that means Holmes will remain free on bail for now. In their last-minute appeal, Holmes’ attorneys said Davila’s ruling contained “numerous, inexplicable errors,” including referring to “patient fraud counts” when Holmes was acquitted on the charges that she defrauded Theranos patients. They say she should be allowed to remain free while she appeals her conviction because the appeal is “likely to result in reversal.” The government has 10 days to respond to the motion.
*Ramesh “Sunny” Balwani (53/now 57) (CFO & President of Theranos) – Trial began on 3/22/22 & ended on 7/7/22 with a guilty verdict on all 12 counts. Sentenced on 12/7/22 to 155 months (12 years & 11 months) to prison. Must surrender on 3/16/23 by 2pm. 3/16/23: Received a reprieve-did not have to surrender because of the appeal. Appeals concluded Balwani hadn’t provided enough compelling evidence to convince them that his conviction is likely to be overturned. After the Ninth Circuit Court of Appeals issued a decision refusing Balwani’s request, U.S District Judge Edward Davila on Friday ordered him to start his nearly 13-year prison sentence on 4/20/23. In prison.
Thursday, April 27th:
*Surrender for Prison Sentence-Appeal stopped prison surrender! (@ 2pm PT) - CA – *Elizabeth A. Holmes (34/now 39) (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. San Jose U.S. District Federal Court
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. Trial began on 9/8/21 & ended with closing arguments on 12/17/21. Jury began deliberations on 12/17/22 thru 1/3/23: 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 & rescheduled to 11/18/22. Judge Edward Davila denied all 3 of Holmes’ motions requesting new trial. Judge Ed Davila sentenced Elizabeth Holmes to 11 years & 3 months (135 months) in prison plus 3 years of supervised release on 11/23/22. The judge set a surrender date for 4/27/23. Surrender date was postponed after defense attorneys again filed an appeal.
Judge Edward Davila recommended Holmes be sent to the minimum-security women's federal prison, Camp Bryan, about 100 miles north of Houston, to serve at the Federal Prison Camp in Bryan, Texas (a shared dormitory in Camp Bryan).
Indictment & court info from 4/11/20 thru 3/4/23 reference post #738 here:
https://www.websleuths.com/forums/t...s-theranos-wire-fraud-thread-2.604309/page-37
3/7/23 Update: Holmes is fighting a demand to pay nearly $900 million in restitution to investors in her failed company. In a recent court filing, Holmes hit back at a motion from prosecutors that she repay the full $878 million that investors put up to back her medical testing startup, which imploded when her claims about the technology were revealed as false. Holmes' attorneys argue that there is no proof that the investors put their money into Theranos as a result of her fraudulent claims, or that her crimes were responsible for the company's collapse. The record thus contains little to no information regarding the circumstances of many investors' decisions to invest, including what information they considered, relied on, or found important. The defense motion also points out that US District Judge Edward Davila previously ruled that prosecutors had not established that Theranos collapsed because of Holmes' criminal conduct. 'Together, these findings—which the government does not contest in its restitution submission—preclude attributing the entire decline in Theranos' value to the offense conduct,' the motion argues. Her attorneys have previously argued that she has essentially no assets, though in court filings they have said she is pursuing several patents. Any restitution order could apply to Holmes' future assets & income, meaning that she could face garnishment if she returns to work after she completes her prison sentence. Motions hearing on 3/17/23 re: for release pending appeal, motion to strike & restitution hearings.
3/17/23 Update: Holmes returned to federal court in San Jose, Calif. on Friday asking to delay her report date to prison next month while she appeals her conviction. A lawyer for Holmes cited several reasons explaining why she’s not a flight risk which included her young children & that she’s been free on bail for more than a year without fleeing. However, the government pointed to a one-way ticket Holmes & her partner, Billy Evans, had booked to Puerto Vallarta, Mexico days after her conviction. Holmes is also fighting with prosecutors over how much restitution she should pay. Prosecutors want her to pay nearly $900 million while Holmes argues the government failed to prove investors relied on her representations. U.S. District Court Judge Edward Davila plans to make a ruling on both motions in early April.
4/10/23 Update: Order Denying Motion for Release pending Appeal. U.S. District Judge Edward J. Davila denied Holmes' request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion. She is scheduled to surrender on 4/27/23. "Accordingly, even if the Ninth Circuit finds error in this ruling, it is unlikely that it would result in a reversal or a new trial on all of Ms. Holmes' convicted counts." The court is still expected to rule on the government's request for Holmes to repay Theranos investors to the tune of nearly $900 million. The figure, prosecutors argued, represents the full extent of investments made over the course of Theranos' existence. Attorneys for Holmes characterized the dollar amount as egregious given that Holmes was convicted of defrauding only some of the investors who backed the startup. U.S. Assistant Attorney Robert Leach argued that every dollar invested in Theranos should be repaid to its various investors.
4/17/23 Update: In a brief filed Monday with the US Court of Appeals for the 9th Circuit, Holmes's attorneys claim her original trial was flawed, producing an "unjust" conviction & a "severe" prison sentence. They argue that she was unjustly barred from citing Balwani's testimony in her own defense. "Balwani's testimony is compelling evidence corroborating Holmes's defense that she did not intend to defraud investors with the financial projections or conspire with Balwani to do so," the attorneys wrote. Balwani was convicted on 12 counts & sentenced last December to 13 years in prison. Holmes's defense team also argued that testimony from Theranos' former lab director, Dr. Adam Rosendorff — that the company's technology was "uniquely problematic" — improperly influenced the court, citing the fact that Rosendorff was not cross-examined & questioned about failings in other labs at which he worked. For those reasons, the court "should reverse the conviction & remand for a new trial or, alternatively, remand for re-sentencing," Holmes's lawyers wrote.
4/25/23 Update: Holmes will not go to prison this week, despite a judge’s order that she begin serving her 11-year sentence on Thursday, 4/27/23. Late Tuesday, Holmes’ attorneys appealed that ruling to the U.S. 9th Circuit Court of Appeals in San Francisco. Under the court’s rules, that means Holmes will remain free on bail for now. In their last-minute appeal, Holmes’ attorneys said Davila’s ruling contained “numerous, inexplicable errors,” including referring to “patient fraud counts” when Holmes was acquitted on the charges that she defrauded Theranos patients. They say she should be allowed to remain free while she appeals her conviction because the appeal is “likely to result in reversal.” The government has 10 days to respond to the motion.
*Ramesh “Sunny” Balwani (53/now 57) (CFO & President of Theranos) – Trial began on 3/22/22 & ended on 7/7/22 with a guilty verdict on all 12 counts. Sentenced on 12/7/22 to 155 months (12 years & 11 months) to prison. Must surrender on 3/16/23 by 2pm. 3/16/23: Received a reprieve-did not have to surrender because of the appeal. Appeals concluded Balwani hadn’t provided enough compelling evidence to convince them that his conviction is likely to be overturned. After the Ninth Circuit Court of Appeals issued a decision refusing Balwani’s request, U.S District Judge Edward Davila on Friday ordered him to start his nearly 13-year prison sentence on 4/20/23. In prison.
LinasK
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Elizabeth Holmes’ Daughter’s Name May Be Narcissism at Its Finest
The disgraced CEO reportedly named her new baby girl after the Latin word meaning “unconquered.”
www.thedailybeast.com
Smelly Squirrel
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Her daughter Invicta was born February 9th according to Daily Mail.
www.dailymail.co.uk
Elizabeth Holmes spends last days of freedom with fiancé and two kids
DailyMail.com found Elizabeth Holmes, 39, and Billy Evans, 31, spending their last few days together with their two children this week, before she is due to start her sentence next Thursday.
LinasK
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It's petty of me, but I'm pleased to see that she hasn't lost the baby weight.Her daughter Invicta was born February 9th according to Daily Mail.
Elizabeth Holmes spends last days of freedom with fiancé and two kids
DailyMail.com found Elizabeth Holmes, 39, and Billy Evans, 31, spending their last few days together with their two children this week, before she is due to start her sentence next Thursday.
Via Marple
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I think the Court should be very careful not to show a more lenient version of justice towards a convicted criminal, just because she is more privileged (compared to her co-accused, and many others), and has means to get her way around the system.
MOO
MOO
LinasK
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This is near San Diego. Theranos founder, Elizabeth Holmes, delays prison time and awaits appeal in Del Mar beach house
BeachSky
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One comment: we all await a pic of Lizzie surfing in her black turtleneck
Unbelievable.
MOO
mister happy
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This got me thinking about all those photos of Elizabeth Holmes walking to court, hand-in-hand with her parents and stooge (IMO) husband. What a blatant PR tactic. So, it would be a blast to see a pic of her and her "crew" riding a wave, each on their own surfboard, holding hands. Gnarly!.. as Jeff Spicoli would say.I have to wonder if it's making the Feds uncomfortable that she's at a beachfront property...everything "on the beach" in San Diego is close to Mexico.
On a non-suspicious note, it's where Billy Evans grew up.
On a non-suspicious note, it's where Billy Evans grew up.
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Looks like this is the first stop in the Elizabeth Holmes rehabilitation tour.
www.nytimes.com
Liz Holmes Wants You to Forget About Elizabeth (Published 2023)
The black turtlenecks are gone. So is the voice. As the convicted Theranos founder awaits prison, she has adopted a new persona: devoted mother.
nyvictoria
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I just can’t with this lying criminal. I hope her idiot husband divorces her and keeps the children away. Barring that, maybe his parents will rethink the idea of her having contact with their grandchildren and take action.
ifindedout
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Good she's ditching the black. Because orange is in.
I read the NYT article. What I find galling is her constantly reminding us that she worked in a rape crisis center because she herself was previously raped. Don't misunderstand me - I am against rape and a supporter of women's rights. But, it seems to be a defense some women like to raise when cornered -- i.e. accuser: "you committed a bad crime..", Holmes as exemplar: "...but, but, but...I was raped...and I worked to help other women that were raped...." It makes me feel less sympathetic to her (and I have had some sympathy toward her in the past, now dwindled to nearly none).
Jinkasaurus
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How long will she be in prison? Regardless of the length of time, I believe she is so delusional that it won't impact her much at all.
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It seems everything in her life is just role play, it doesn't matter to her that nothing is real.Looks like this is the first stop in the Elizabeth Holmes rehabilitation tour.
Liz Holmes Wants You to Forget About Elizabeth (Published 2023)
The black turtlenecks are gone. So is the voice. As the convicted Theranos founder awaits prison, she has adopted a new persona: devoted mother.
In her current role she is simply defrauding a new set of stakeholders. It will likely take those people a long time to wake up to it, since she's so good at it, as always.
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