Jury finds Elizabeth Holmes guilty of fraud
Theranos founder Elizabeth Homes is set to learn her fate today as she is sentenced for defrauding investors of the blood-testing startup.
Prosecutors have asked Judge Edward Davila to sentence the 38-year-old to 15 years in prison and that she pay $800m in restitution for her role in the company’s fraudulent claims.
Assistant US attorney Robert Leach called the case “one of the most substantial white collar offences Silicon Valley or any other district has seen,” and rejected defence attorneys’ characterisation that Holmes had been unfairly victimised, in part by media coverage.
She was convicted last year of three felony counts of wire fraud and one felony count of conspiracy to commit fraud.
Holmes’ lawyers have cast her as a scapegoat who overcame a toxic relationship to become a loving mother. They have argued that sending Holmes to prison was “unnecessary” and asked for an 18 month period of home incarceration.
“We acknowledge that this may seem a tall order given the public perception of this case especially when Ms Holmes is viewed as the caricature, not the person,” the court filing said earlier this week.
