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Lawsuit: Elizabeth Holmes Owes Theranos Big Bucks

Breach of contract lawsuit filed against ex-CEO says she owes $25M in promissory notes

(Newser) - As Elizabeth Holmes continues to try to delay the beginning of her 11-year prison sentence, new trouble has popped up, this one financial. The Guardian reports that a breach of contract lawsuit against the former Theranos CEO filed in December emerged Friday during Holmes' latest court appearance in California, claiming...

Elizabeth Holmes Has a Newborn
Elizabeth Holmes
Has a Newborn

Elizabeth Holmes Has a Newborn

She's due to report to prison April 27, but lawyers are seeking a delay

(Newser) - Elizabeth Holmes has become a mother for the second time, months before she is due to report to a federal prison to start serving a sentence of more than 11 years. It's not clear exactly when the Theranos founder, who was visibly pregnant during her sentencing hearing in November,...

Defense Denies Holmes Tried to Flee US After Conviction

A trip to Mexico for a wedding was dropped once she was found guilty, lawyers say

(Newser) - Lawyers for Elizabeth Holmes ripped prosecutors Monday for accusing the Theranos founder of trying to flee the country. Her partner did book a trip to Mexico for the two to attend a wedding, the defense filing says, but that was before Holmes was convicted of felony fraud, the San Jose ...

Sunny Balwani's Sentence Is Longer Than Elizabeth Holmes'

Ex-Theranos president and COO was convicted of 12 fraud, conspiracy counts in July

(Newser) - US District Judge Edward Davila has decided Ramesh "Sunny" Balwani should be punished more severely than his former lover and Theranos business partner Elizabeth Holmes. Balwani was sentenced to 155 months in federal prison Wednesday, just short of 13 years. Balwani was convicted of 12 fraud and conspiracy counts...

Judge Gives Elizabeth Holmes 11 Years for Theranos Fraud

Company founder has to report for prison in April

(Newser) - A federal judge on Friday handed disgraced biotech exec Elizabeth Holmes a prison sentence of more than 11 years for defrauding her investors. Prosecutors had sought a sentence of 15 years after the 38-year-old was convicted earlier this year of misleading investors in her now-defunct Theranos blood-testing company. She had...

Holmes' Lawyers Say She Doesn't Deserve Prison
Want 15 Years
for Holmes

Prosecutors Want 15 Years for Holmes

Filing calls for $800M in restitution, while defense argues against prison term

(Newser) - Lawyers for Elizabeth Holmes, who was convicted in January of investor fraud and conspiracy, have argued that the Theranos founder shouldn't receive a prison term when she's sentenced for her crimes Friday in San Jose. In their court filing, federal prosecutors made clear that they couldn't disagree...

Lab Director's Visit Is No Game-Changer for Holmes

Judge denies Theranos founder's request for new trial

(Newser) - Elizabeth Holmes will be sentenced Nov. 18 after a federal judge on Monday denied her request for a new trial. US District Judge Edward Davila found that the Theranos founder's motions for a new trial did not contain material new evidence or establish government misconduct. Davila postponed Holmes' original...

Witness' Unexpected Line: Elizabeth Holmes Is Pregnant Again

Former Theranos exec says so in court during hearing

(Newser) - Prosecution witness and former Theranos lab director Adam Rosendorff stood by his earlier testimony during a court appearance in Elizabeth Holmes' fraud trial on Monday. Rosendorff's statements could pave the way for Holmes' sentencing in the case, which was postponed after Rosendorff sought to speak with Holmes following the...

Disgraced Theranos Exec Sunny Balwani Convicted

Jury convicts Elizabeth Holmes' former partner of defrauding investors, patients

(Newser) - Another conviction in the Theranos scandal : A jury on Thursday convicted former executive Ramesh “Sunny” Balwani of collaborating with CEO Elizabeth Holmes in a massive fraud involving the blood-testing company that once enthralled Silicon Valley. The 12 jurors found Balwani guilty on all 12 felony counts of defrauding both...

Sunny Balwani's Trial Could Be Key for Elizabeth Holmes

If he is found guilty, she could potentially use that when arguing for a lighter sentence

(Newser) - Elizabeth Holmes was found guilty in January of defrauding Theranos investors. Now begins the process of determining whether Theranos' former president and COO is guilty of similar crimes. Jury selection starts Wednesday in the trial of Ramesh "Sunny" Balwani, who also had a years-long romantic relationship with Holmes, who...

Sentencing Date Set for Elizabeth Holmes

Theranos founder will remain free on $500K bond until Sept. 26 sentencing

(Newser) - Theranos founder and convicted fraudster Elizabeth Holmes will learn her fate on Sept. 26, according to an order filed by US District Judge Edward J. Davila on Wednesday. Holmes, who turns 38 next month, could face up to 20 years on each of the four fraud charges she was convicted...

It Could Be Years Before Holmes Goes to Prison

Appeals process likely to be long, complicated

(Newser) - After a long, complicated trial for Theranos founder Elizabeth Holmes, the jury delivered a complicated verdict , which could make the appeals process tricky for her lawyers. The jury found Holmes guilty on four fraud counts, not guilty on four others, and they were deadlocked on three more. Lawyers tell the...

Juror Says It Was 'Tough to Convict' the 'Likable' Holmes

Still, juror No. 6 Wayne Kaatz says he and his peers didn't find Theranos founder very credible

(Newser) - On Monday, the jury in the Elizabeth Holmes trial handed down guilty verdicts on four of the fraud and conspiracy charges against the Theranos founder, though it was a "tough" process, one of the jurors now reveals. Wayne Kaatz, aka Juror No. 6, tells ABC News that he and...

Elizabeth Holmes Verdict Marks 'End of an Era' in Silicon Valley

There is a price to pay for lying, some note in reaction to the verdict

(Newser) - When Elizabeth Holmes was found guilty on four counts of fraud Monday , it "signaled the end of an era" in Silicon Valley, writes David Streitfeld at the New York Times . The tech startup world has long blurred the line between hype and actual achievement, but with the Theranos verdict,...

After 43 Hours of Deliberations, Holmes Jury Is Back at It
Holmes Jury Says It Is
Deadlocked on 3 Counts

Holmes Jury Says It Is Deadlocked on 3 Counts

Judge tells them to keep deliberating

(Newser) - Update: The jury in the Elizabeth Holmes case was sent back to the deliberation room Monday after they told the judge they were deadlocked on three of the 11 fraud counts against the former Theranos CEO. The jurors—who began deliberations before Christmas—didn't say which of the counts...

Holmes Jury Won't Have Verdict Before 2022

Closed-door meeting suggests plea deal could be in the works for former Theranos CEO

(Newser) - The jury weighing fraud charges against former Theranos CEO Elizabeth Holmes departed court Wednesday without reaching a verdict after six days of deliberations. It won't resume discussions until after the upcoming New Year's holiday weekend. The eight men and four women on the jury had been expected to...

Theranos Investor Has Unique Plan to Get Money Back

Marc Ostrofsky plans to sell an NFT of his otherwise worthless stock certificate

(Newser) - Like a lot of Theranos investors, Marc Ostrofsky lost a hefty sum when the blood-testing company went broke. But Ostrofsky thinks he has a way to get his $150,000 back, and maybe even more. CNBC reports that he plans to sell his Series A stock certificate as a nonfungible...

Holmes Ends Her Testimony With Denials

Defense rests, but closing arguments won't take place till Dec. 16

(Newser) - The defense wrapped up its case in Elizabeth Holmes' trial Wednesday with her declaration that she didn't mislead investors in her blood tech startup—"Never," she said. "You understand they were entitled to truthful answers about Theranos' capabilities?" a prosecutor asked. "Of course," Holmes...

Elizabeth Holmes Again Struggles Under Cross-Examination

Theranos founder admits she gave journalist incorrect info

(Newser) - Elizabeth Holmes was cross-examined again Tuesday in her fraud trial, and admitted under questioning from prosecutors that she gave journalist Roger Parloff incorrect information for his 2014 Fortune cover story on Theranos. Reading the statement from the article that Theranos offered 200 finger-prick blood tests and would soon offer more...

Elizabeth Holmes Weeps Under Cross-Examination

Cross-examination will continue December 7

(Newser) - One-time entrepreneur Elizabeth Holmes, under questioning by prosecutors, struggled Tuesday to recall key events that led to her facing criminal fraud charges for allegedly fleecing investors and customers of her failed blood-testing startup Theranos, the AP reports. Her cross-examination began the day after she shared painfully vivid memories of alleged...

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