Elizabeth Holme’s sentencing proposed for September

Theranos founder Elizabeth Holmes, downtown, and her family leave the Robert F. Peckham Federal Building and US Courthouse after the jury found her guilty on four counts in San Jose, California, Monday, January 3, 2022.

Dai Sugano | MediaNews Group | Getty pictures

Former Theranos CEO Elizabeth Holmes, who was convicted of federal fraud charges last week, will be placed on a $ 500,000 bond secured by real estate and convicted Sept. 1[ads1]2 under the terms proposed in a lawsuit Tuesday night.

The court archives also said that the government will reject points 3, 4 and 5 in the indictment where the jury ruled.

The three closed counts concern investors Alan Eisenman, Chris Lucas from Black Diamond Ventures and Bryan Tolbert from Hall Group. All three investors testified that Holmes misled them about her blood test company.

Theranos raised over $ 945 million from investors over its lifetime.

The proposed provision, which was filed by the government and lawyers for Holmes, said “the parties agree that a sentencing hearing after Labor Day 2022 would be appropriate in light of ongoing proceedings in a related case.”

It refers to pending fraud allegations against former Theranos president and Holmes’ Ramesh “Sunny” Balwani, her top boss and girlfriend at the time.

The court archives also set a timeline for both sides to submit petitions after the trial. U.S. District Court Judge Edward Davila must approve the joint motion.

After more than 50 hours of deliberation, Holmes was found guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud related to investors’ lies. The jury of eight men and four women did not find her guilty of four charges related to lying to patients. The jury could not reach a unanimous verdict on three points related to investors.

Balwani, who has pleaded not guilty, faces the same charges in a separate trial that has been postponed until March due to the Covid wave.

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