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

[Seattle1]

dbm

 

[Seattle1]

Former Theranos CEO Elizabeth Holmes Puts Off Prison Once Again

Disgraced former Theranos CEO Elizabeth Holmes may be putting off prison one more time.

www.nbcbayarea.com

Why do some convicted criminals have to go straight to jail after being convicted, and other convicted criminals just continue to file endless appeals and remain free?

Just asking.

There is no immediate sentencing in Federal Court because a US District Court Judge has to calculate the sentence post-conviction where the Court takes several matters into account.

Unlike State Courts that have fairly defined penalties, in Federal cases, Congress has established minimum and maximum punishments which the judge uses to craft a sentence.

Sentencing

A few months after the defendant is found guilty, they return to court to be sentenced.

The judge receives guidance and assistance from several sources in order to sentence a defendant. Congress has established minimum and maximum punishments for many crimes which the judge uses to craft a sentence.

The United States Sentencing Commissions has produced a set of sentencing guidelines that recommend certain punishments for certain crimes while considering various factors. Further, the judge will look at a presentence report and consider statements from the victims as well as the defendant and lawyers.

The judge may consider a variety of aggravating or mitigating factors. These include whether the defendant has committed the same crime before, whether the defendant has expressed regret for the crime, and the nature of the crime itself.

Sentencing

 

[RickshawFan]

Elizabeth Holmes loses latest bid to avoid prison and gets hit with $452 million restitution bill​

Elizabeth Holmes loses latest bid to avoid prison and gets hit with $452 million restitution bill

Disgraced Theranos CEO Elizabeth Holmes appears to be soon bound for prison after an appeals court Tuesday rejected her bid to remain free while she tries to overturn her conviction in a blood-testing hoax that brought her fleeting fame and fortune. In another ruling issued late Tuesday, U.S...

news.yahoo.com

Bwahahaha on the $452M. At $.15/hour prison salary. I hope all the money that gets sent to her commissary account gets diverted to restitution.

 

[RickshawFan]

So she can enjoy Memorial Day Weekend and get pregnant again???

They'd make her have it in prison this time. Like all the other pregnant convicts. Davila must have had it by now with the pregnancy excuse: she shoulda been on a preventative.

 

[worm]

I know my opinion may not be popular but I think her sentence is quite excessive given that it isn’t a violent offense. I argue the same about the drug war where people get long jail stints for non violent acts.

 

[LinasK]

So she can enjoy Memorial Day Weekend and get pregnant again???

They'd make her have it in prison this time. Like all the other pregnant convicts. Davila must have had it by now with the pregnancy excuse: she shoulda been on a preventative.

I wish that she had to report before Memorial Day. She's already gotten a month more freedom than she deserves. Why hasn't she made childcare arrangements before now? Isn't her husband capable of raising them???

 

[LinasK]

I know my opinion may not be popular but I think her sentence is quite excessive given that it isn’t a violent offense. I argue the same about the drug war where people get long jail stints for non violent acts.

My opinion is that she harmed people. I wish that she had gotten convicted on the patients to whom she gave false medical results. She made them believe that they had Cancer and miscarriages. In my eyes that's far worse than financial loss.

 

[Countem]

I know my opinion may not be popular but I think her sentence is quite excessive given that it isn’t a violent offense. I argue the same about the drug war where people get long jail stints for non violent acts.

Her offense was not violent, but she still may have indirectly caused physical harm, as people relied on her machines’ results to make their medical decisions.

 

[Seattle1]

I know my opinion may not be popular but I think her sentence is quite excessive given that it isn’t a violent offense. I argue the same about the drug war where people get long jail stints for non violent acts.

I completely understand what you are saying @worm and it's another example of the disparity between state and federal punishment where Congress has never wanted to be definitive-- leaving it to the discretion of a US District Judge, and State legislators are answering to their constituents when setting classes and degrees of charges and the applicable punishment in State criminal codes.

 

[Lorenathered]

My opinion is that she harmed people. I wish that she had gotten convicted on the patients to whom she gave false medical results. She made them believe that they had Cancer and miscarriages. In my eyes that's far worse than financial loss.

Exactly! And let's not forget that she is responsible for pushing a person to suicide, or at least one that we know of. She did an amazing amount of harm. If you want to gloss over all the money she stole, ok, but she hurt a lot of people. Imagine you get test results that say you have a terminal or devastating disease. Imagine the emotional toll it takes on you and your family. Only to find out it was a known faulty test and you don't have it. I really wish people would stop treating her with kid gloves and hold her accountable for the damage she has done to people's lives.

 

[nhmemorymaker]

My opinion is that she harmed people. I wish that she had gotten convicted on the patients to whom she gave false medical results. She made them believe that they had Cancer and miscarriages. In my eyes that's far worse than financial loss.

so agree. Conscientious deliberate harm for her own selfish gains.

I actually do not even feel comfortable with her raising children.

 

[mickey2942]

Inside the routine at Elizabeth Holmes' prison - BBC News

Here's what we know about the Federal Prison Camp in Bryan, Texas, where Holmes is likely to be sent.

www.bbc.com

EH is a manipulative con artist. She deserves to be right where she is at...the real problem I see is her consistent entitlement attitude, and ignoring the fact that her lies destroyed people's lives.

 

[arielilane]

Fallen biotech star Elizabeth Holmes must report to prison on May 30. Once dubbed the next Steve Jobs, Holmes was convicted of defrauding investors in her blood-testing startup, Theranos. Here’s what led to ber more than 11-year prison sentence.

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https://twitter.com/MarketWatch

Why is Elizabeth Holmes going to prison? A recap of how the Theranos founder got here

Holmes, who was convicted of defrauding Theranos investors, is set to begin her 11-year prison sentence on May 30.

www.marketwatch.com

5/18/2023

Why is Elizabeth Holmes going to prison? A recap of how the Theranos founder got here​

It’s official: fallen biotech star Elizabeth Holmes must report to prison on May 30.

Holmes, founder of the health-technology company Theranos, was convicted in January 2022 on four counts of defrauding investors in her blood-testing startup. She was sentenced to more than 11 years in prison over a year ago, but her legal team has managed to delay her start date until now.

So, how did she get here?

In the early 2000s, Holmes captured the imagination of Silicon Valley with her self-made story. After dropping out of Stanford to create a groundbreaking blood-testing system, she attracted high-profile investors, graced magazine covers and was dubbed the next Steve Jobs.

Holmes’s company, Theranos, promised a revolutionary system for diagnostic medical tests that required only a few drops of blood and cost a fraction of the price of existing blood-testing technology. Theranos was valued at $9 billion and secured contracts with Walgreens and the Department of Defense, according to case filings.

Holmes became a media darling, giving a TEDMED talk and appearing on the cover of magazines such as Forbes, Fortune, Inc. and New York Times Style. But her meteoric rise came to a halt following a series of investigative pieces from The Wall Street Journal in 2016.

 

[RickshawFan]

My opinion is that she harmed people. I wish that she had gotten convicted on the patients to whom she gave false medical results. She made them believe that they had Cancer and miscarriages. In my eyes that's far worse than financial loss.

There were thousands of patients in this category. IIRC Theranos had to invalidate thousands of tests and do them over.

 

[RickshawFan]

so agree. Conscientious deliberate harm for her own selfish gains.

I actually do not even feel comfortable with her raising children.

Now she won't be raising kids lol. I hope they have a fabulous nanny in their lives who can teach them what loving behavior looks like. Their mom is much to self-centered to have it.

 

[Countem]

Jen Shah and Elizabeth Holmes, both convicted of fraud, can take business skills classes at the Texas prison where they'll serve their sentences

Theranos CEO Elizabeth Holmes will begin her 11 year prison sentence at a Federal Prison camp in Texas starting May 30.

www.businessinsider.com

Definitely might be helpful.

 

[ilovewings]

I wish that she had to report before Memorial Day. She's already gotten a month more freedom than she deserves. Why hasn't she made childcare arrangements before now? Isn't her husband capable of raising them???

I agree- she should not have been given one more day of freedom- why couldn't the judge just have said "No"-- you are going to jail TODAY!!!! Getting privileged treatment right to the end

 

[LinasK]

Jen Shah and Elizabeth Holmes, both convicted of fraud, can take business skills classes at the Texas prison where they'll serve their sentences

Theranos CEO Elizabeth Holmes will begin her 11 year prison sentence at a Federal Prison camp in Texas starting May 30.

www.businessinsider.com

Definitely might be helpful.

You mean she might learn how to run an honest, successful business??? Glad that she's going to prison in Texas and not in my town.

 

[Howl]

Holmes’s company, Theranos, promised a revolutionary system for diagnostic medical tests that required only a few drops of blood and cost a fraction of the price of existing blood-testing technology.

Here's what I don't get.
Blood testing is a well-established industry. Some large doctor's practices, oncology for example, draw blood, test it on site and have the Complete Blood Count and other results ready for the doctor to review before seeing the patient. Lead time, in the past for me 20 years ago as a patient, was about 30 minutes.

People in the blood-testing industry would know immediately the limitations of the Theranos/Edison concept.
Yes, astoundingly processing can take place using very small devices (cell phone!) and some blood tests can be performed almost instantly with very little blood.
But scientists and technicians would know that a few drops of blood would be insufficient for some tests to be performed accurately. It just couldn't work, yet investors were THROWING staggering amounts of money at Elizabeth Holmes.
How were cautious and expert voices silenced? People WITHIN Theranos would have known the technology wasn't working and couldn't work. I guess that ironclad NDAs and threats of legal action kept people silent.

 

[worm]

Here's what I don't get.
Blood testing is a well-established industry. Some large doctor's practices, oncology for example, draw blood, test it on site and have the Complete Blood Count and other results ready for the doctor to review before seeing the patient. Lead time, in the past for me 20 years ago as a patient, was about 30 minutes.

People in the blood-testing industry would know immediately the limitations of the Theranos/Edison concept.
Yes, astoundingly processing can take place using very small devices (cell phone!) and some blood tests can be performed almost instantly with very little blood.
But scientists and technicians would know that a few drops of blood would be insufficient for some tests to be performed accurately. It just couldn't work, yet investors were THROWING staggering amounts of money at Elizabeth Holmes.
How were cautious and expert voices silenced? People WITHIN Theranos would have known the technology wasn't working and couldn't work. I guess that ironclad NDAs and threats of legal action kept people silent.

Investors want to be in on the “new thing” and making them believe that the impossible is now technically possible will bring the money. There’s a great episode of American Greed about Holmes and Theranos that tells of their intimidation with those that asked questions.