Elizabeth Holmes faces judgment day for her Theranos crimes

News Summary

  • Their arguments were supported by more than 130 letters submitted by family, friends and former colleagues praising Holmes.A probation report also submitted to Davila recommended a nine=year prison sentence for Holmes.Prosecutors also want Holmes to pay $804 million in restitution.
  • In a scathing 46-page memo, Leach told the judge he has an opportunity to send a message that curbs the hubris and hyperbole unleashed by the tech boom of the past decade.Holmes “preyed on hopes of her investors that a young, dynamic entrepreneur had changed healthcare,” Leach wrote.
  • District Judge Edward Davila will take center stage as he weighs the federal government’s recommendation to send Holmes, 38, to federal prison for 15 years.
  • That’s slightly less than the maximum sentence of 20 years she could face, but far longer than her legal team’s attempt to limit her incarceration to no more than 18 months, preferably served in home confinement.
  • Federal prosecutor Robert Leach emphatically declared Holmes deserves a severe punishment for engineering a scam that he described as one of the most egregious white-collar crimes ever committed in Silicon Valley.
  • Balwani, 57, is scheduled to be sentenced Dec. 7 after being convicted in a July trial on 12 counts of fraud and conspiracy.
By MICHAEL LIEDTKE AP Technology WriterA federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endang [+5838 chars]