| United States v. Holmes | |
|---|---|
 | |
| Court | United States District Court for the Northern District of California |
| Full case name | United States v. Elizabeth A. Holmes, et al. |
| Decided | January 3, 2022 |
| Court membership | |
| Judge sitting | Edward J. Davila |
United States v. Elizabeth A. Holmes, et al., (No. 18-CR-00258-EJD)[1] was a United States federal criminal fraud case against the founder of now-defunct corporation Theranos, Elizabeth Holmes, and its former president and COO, Ramesh Balwani. The case alleged that Holmes and Balwani perpetrated multi-million dollar wire-fraud schemes against investors and patients. Holmes and Balwani each had their own jury trial.
A five-person team from premier white-collar crime litigation firm Williams & Connolly defended Holmes.[2] The case began on August 31, 2021, when a jury of Santa Clara County residents was selected.[3] The jury reached a split verdict on January 3, 2022, with Holmes found guilty of criminal fraud on four counts.[4] On November 18, 2022, she was sentenced to 11.25 years in prison (135 months).[5] She started her 11-year prison sentence on May 30, 2023.[6]
Balwani had the same charges as Holmes. On July 7, 2022, Balwani was found guilty on all counts and also faced up to 20 years in prison and millions of dollars in restitution.[7][8][9] On December 7, 2022 he was sentenced to 12 years and 11 months, plus three years of probation, and surrendered on April 20, 2023.[10][11] Holmes and Balwani were further ordered to pay $452 million to the victims of the fraud, with responsibility for the amount shared between them.[12]
- ^ "U.S. v. Elizabeth Holmes, et al". www.justice.gov. February 26, 2019. Retrieved September 25, 2021.
- ^ "'Failure Is Not a Crime'". Boston College Law School Magazine. Retrieved September 25, 2021.
- ^ Griffith, Erin; Woo, Erin (September 2, 2021). "A jury is selected for the Elizabeth Holmes trial". The New York Times. ISSN 0362-4331. Retrieved September 25, 2021.
- ^ Cite error: The named reference
GriffithJan3was invoked but never defined (see the help page). - ^ "Elizabeth Holmes Sentencing Live Updates: Former Theranos CEO Sentenced to More Than 11 Years in Prison". WSJ. Retrieved November 18, 2022.
- ^ Liedtke, Michael (May 17, 2023). "Elizabeth Holmes began her 11-year prison sentence on May 30 after losing her bid to remain free". Associated Press. Retrieved May 17, 2023.
- ^ Cite error: The named reference
Rosenblattwas invoked but never defined (see the help page). - ^ "Theranos exec Sunny Balwani convicted of fraud". BBC News. July 7, 2022. Retrieved July 8, 2022.
- ^ Kari Paul (March 9, 2022). "Sunny Balwani trial starts two months after Elizabeth Holmes's guilty verdict". The Guardian. Retrieved March 10, 2022 – via Yahoo! News.
- ^ Goswami, Rohan (December 7, 2022). "Former Theranos COO Sunny Balwani sentenced to nearly 13 years in prison". CNBC. Retrieved December 7, 2022.
- ^ "Sunny Balwani: Former Theranos executive gets nearly 13 years in prison". BBC News. December 7, 2022. Retrieved December 8, 2022.
- ^ Cite error: The named reference
Godoywas invoked but never defined (see the help page).
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