Elizabeth Holmes, founder of Theranos Inc., was convicted on four of 11 charges at her criminal-fraud trial.
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David Paul Morris/Bloomberg News
Prosecutors have proposed a mid-September sentencing date for Theranos Inc. founder
Elizabeth Holmes
and said they don’t plan to pursue three charges that deadlocked the jury at her criminal-fraud trial.
The disclosures in a Tuesday evening court filing come just over a week after a jury convicted Ms. Holmes of one count of conspiracy to commit wire fraud and three counts of wire fraud for intentionally deceiving investors about her now-defunct blood-testing startup. The jurors acquitted Ms. Holmes of four counts tied to Theranos patients and failed to reach a unanimous verdict on three others related to defrauding investors, leaving the government with the option of retrying the undecided counts.
The filing, made jointly by prosecutors and attorneys for Ms. Holmes, said the government will move to dismiss the three hung counts. The two sides also proposed Sept. 12 for Ms. Holmes’s sentencing, a date that needs signoff by U.S. District Judge
Edward Davila.
If the proposal is accepted, Ms. Holmes will remain out on bail for at least the next eight months. Her $500,000 bond must now be secured by property, according to the Tuesday filing.
Each of the four counts that Ms. Holmes was convicted of carries a maximum sentence of 20 years in prison. A review of prior cases indicates she is likely to get far less than the 80 years she could technically face. Judge Davila, who oversaw the monthslong proceeding, will have the final say and, under federal sentencing guidelines, has great leeway in handing down a punishment.
Write to Sara Randazzo at [email protected]
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