Federal prosecutors are pushing for a 15-year prison sentence for Theranos Inc. founder Elizabeth Holmes., government attorneys are also seeking to have her sentenced to three years of supervised release and ordered to pay $804 million in restitution to Theranos investors. Prosecutors made their sentencing recommendations in a memorandum filed with the U.S. District Court in San Jose Friday.
Holmes"repeatedly chose lies, hype and the prospect of billions of dollars over patient safety and fair dealing with investors," prosecutors said in their sentencing memorandum to the court. Her"crimes," they continued,"were extraordinarily serious, among the most substantial white collar offenses Silicon Valley or any other District has seen."
In January, a federal jury convicted Holmes of three felony counts of wire fraud and one felony count of conspiracy to commit fraud. She faces a maximum sentence of up to 20 years in prison for each count. U.S. District Court Judge Edward Davila is set to sentence Holmes on Wednesday.requested a much more lenient punishmentThe restitution government attorneys are requesting Holmes pay is an estimate of the losses suffered by investors in her failed blood-testing startup.
Since being found guilty, Holmes, who is pregnant with her second child, has remained free after posting bail. In a separate trial, a jury in July found Ramesh"Sunny" Balwani, Holmes' ex-boyfriend and Theranos' former president,We will unveil the rankings of our top corporate philanthropy companies for cash giving and honor our Community Impact Award Winners, while also hearing from corporate philanthropy leaders about what's top of mind for them.
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