Elizabeth Holmes sentencing proposed for September

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  • The four charges for which Holmes pleaded guilty are set for September 12.
  • Holmes’ release would include a $500,000 bond secured by the estate.
  • The court filing also said that the government would dismiss counts 3, 4 and 5 of the impeachment in which the jury had impeached.

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Former Theranos CEO Elizabeth Holmes, who pleaded guilty to federal fraud charges last week, will be held on a $500,000 bond secured by estate and sentenced on Sept. 12 under the terms proposed in a court filing Tuesday night. .

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The court filing also said that the government would dismiss counts 3, 4 and 5 of the impeachment in which the jury had impeached.

The three dropped counts belong to investors Alan Eisenman, Chris Lucas of Black Diamond Ventures and Brian Tolbert from Hall Group. All three investors testified that Holmes misled them about his blood-testing company.

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Theranos raised more than $945 million from investors during its lifetime.

“The parties agree that a sentencing hearing after Labor Day 2022 will be appropriate in light of the ongoing proceedings in the matter,” said the proposed stipulation, filed by the government and lawyers for Holmes.

This refers to the pending fraud charges against Ramesh “Sunny” Balwani, former Theranos chairman and Homes’, who was her top executive and boyfriend at the time.

Court filings also set a timeline for both parties to file post-trial motions. US 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 involving lying to investors. A jury of eight men and four women found him not guilty on four charges related to lying to patients. The jury could not reach a unanimous decision in three cases involving investors.

Balwani, who has pleaded not guilty, is facing the same charges in a separate trial, which has been postponed till March due to the escalation of COVID-19.

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