Former Theranos CEO Elizabeth Holmes, who was convicted of federal fraud charges last week, will likely be positioned on a $500,000 bond secured by property and sentenced Sept. 12 below phrases proposed in a courtroom submitting on Tuesday evening.

The courtroom submitting additionally mentioned the federal government will dismiss counts 3, 4 and 5 of the indictment by which the jury deadlocked on.

The three dropped counts relate to buyers Alan Eisenman, Chris Lucas from Black Diamond Ventures and Bryan Tolbert from Corridor Group. All three of the buyers testified that Holmes misled them about her blood-testing firm.

Theranos raised over $945 million from buyers over its lifetime.

The proposed stipulation which was filed by the federal government and attorneys for Holmes, mentioned “the events agree {that a} sentencing listening to following Labor Day 2022 can be applicable in mild of ongoing proceedings in a associated matter.”

That refers to pending fraud fees in opposition to former Theranos president and Holmes’ Ramesh “Sunny” Balwani, her high government and boyfriend on the time.

The courtroom submitting additionally units a timeline for each side to file post-trial motions. U.S. District Courtroom Decide Edward Davila would want to approve the joint movement.

After greater than 50 hours of deliberations, Holmes was discovered responsible of three counts of wire fraud and one depend of conspiracy to commit wire fraud referring to mendacity to buyers. The jury of eight males and 4 ladies discovered her not responsible of 4 fees referring to mendacity to sufferers. The jury couldn’t attain a unanimous verdict on three counts referring to buyers.

Balwani, who has pleaded not responsible, is going through the identical fees in a separate trial that has been delayed till March as a result of Covid surge.

Source: DUK Information

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