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Court delays Elizabeth Holmes fraud sentencing about a month

97.1 FM Talk
97.1 FM Talk
 2022-07-14

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Elizabeth Holmes ' sentencing has been delayed nearly a month, and the convicted Theranos founder will now be sentenced more than 13 months after her federal fraud trial first began.

A clerk's notice from the U.S. District Court in San Jose on Monday announced that Holmes' latest hearing had been delayed from Sept. 26 to Oct. 17, providing no explanation for why.

Court officials, federal prosecutors and Holmes' attorneys didn't respond to KCBS Radio's requests for comment prior to publication on Wednesday.

The former public face of Theranos , a blood-testing company that purported to revolutionize the industry and wilted under media scrutiny, Holmes is first due back in court on July 21 at 9 a.m., according to Judge Edward Davila's calendar. Davila will hold a hearing on Holmes' motion to overturn her conviction on four federal fraud charges.

Holmes’ trial began on Sept. 8, 2021. A jury convicted the 38-year-old Stanford University dropout, whose rise, fall and trial reliving it all captured international attention and interest, of one count of conspiracy to commit wire fraud against Theranos investors and three counts of wire fraud against Theranos investors.

A jury acquitted Holmes of conspiracy to commit wire fraud against Theranos patients and three counts of wire fraud against Theranos patients, failing to reach a verdict on three additional charges of defrauding investors.

Holmes' attorneys in May asked Davila to toss the conviction, writing in court documents Bloomberg obtained that "no rational juror" could've found her guilty of the charges beyond a reasonable doubt. Her lawyers said there was no evidence she and Balwani conspired to defraud investors.

Balwani, Theranos' former president and Holmes' former romantic partner, was convicted on all 12 counts – including charges that he conspired to, and defrauded, patients – earlier this month. He is set to be sentenced on Nov. 15, just shy of a month after Holmes’ new sentencing date.

Both Holmes and Balwani are free on $500,000 bail. The pair faces a maximum sentence of 20 years in prison for each count, a $250,000 fine and restitution.

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