Theranos founder Elizabeth Holmes, center, and her household leave the Robert F. Peckham Federal Creating and U.S. Courthouse after the jury discovered her responsible on 4 counts in San Jose, Calif., on Monday, Jan. 3, 2022.
Dai Sugano | MediaNews Group | Getty Images
Previous Theranos CEO Elizabeth Holmes, who was convicted of federal fraud fees final 7 days, will be placed on a $500,000 bond secured by house and sentenced Sept. 12 below phrases proposed in a courtroom submitting on Tuesday night time.
The court submitting also mentioned the government will dismiss counts 3, 4 and 5 of the indictment in which the jury deadlocked on.
The 3 dropped counts relate to traders Alan Eisenman, Chris Lucas from Black Diamond Ventures and Bryan Tolbert from Corridor Group. All 3 of the traders testified that Holmes misled them about her blood-testing firm.
Theranos raised about $945 million from investors over its life span.
The proposed stipulation which was submitted by the federal government and attorneys for Holmes, stated “the functions concur that a sentencing hearing following Labor Day 2022 would be proper in light of ongoing proceedings in a related matter.”
That refers to pending fraud prices towards previous Theranos president and Holmes’ Ramesh “Sunny” Balwani, her prime govt and boyfriend at the time.
The court submitting also sets a timeline for both of those sides to file publish-demo motions. U.S. District Court Decide Edward Davila would require to approve the joint motion.
Just after additional than 50 hours of deliberations, Holmes was found guilty of 3 counts of wire fraud and just one rely of conspiracy to commit wire fraud relating to lying to buyers. The jury of 8 males and four women of all ages uncovered her not responsible of four rates relating to lying to sufferers. The jury could not get to a unanimous verdict on three counts relating to investors.
Balwani, who has pleaded not responsible, is going through the similar fees in a separate trial that has been delayed until finally March thanks to the Covid surge.