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Elizabeth Holmes sentencing proposed for September

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.

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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.

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