Elizabeth Holmes trial: federal prosecutors seeking 15 years for Theranos fraud

Federal prosecutors on Friday filed a briefing inquiring a judge to sentence Theranos CEO Elizabeth Holmes to 15 yrs in jail for duping buyers out of hundreds of millions of pounds.

In the 46-website page briefing, Assistant US Legal professional Robert S. Leach attacked Holmes for picking “lies, hoopla and the prospect of billions of bucks about client security and good dealing with traders.”

elizabeth holmes

FILE: Former Theranos CEO Elizabeth Holmes arrives at federal courtroom on October 17, 2022, in San Jose, California. (Photograph by Justin Sullivan/Getty Illustrations or photos / Getty Photos)

“Elizabeth Holmes’ crimes were being not failing, they ended up lying — lying in the most major context, where every person required her to notify the truth of the matter,” Leach mentioned.

Prosecutors also identified as for Holmes to pay out much more than $800 million in restitution for her part in the yearslong scheme.

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“She preyed on hopes of her traders that a young, dynamic entrepreneur had altered health care. She leveraged the believability of her illustrious board,” Leach wrote. “And, by way of her deceit, she attained magnificent fame, adoration, and billions of dollars of wealth.”

Leach wrote that the overall health of precise individuals was place into jeopardy by what Holmes had performed.

“As income was drying up, she went to marketplace with an unproven and unreliable clinical device,” he wrote. “When her lead assay developer give up as Theranos introduced, she chillingly instructed the scientist: ‘she has a guarantee to supply to the customer, she won’t have a great deal of a selection but to go ahead with the launch.'”

Elizabeth Holmes arrives at court

Previous Theranos CEO Elizabeth Holmes arrives at federal court docket in San Jose, Calif., Mon., Oct. 17, 2022. (AP Photo/Jeff Chiu/AP Newsroom)

Holmes was convicted in January of 3 felony counts of wire fraud and a single felony depend of conspiracy to dedicate fraud.

Holmes’ lawyers submitted an 82-site document late Thursday contacting for a lenient sentence of no additional than 18 months, saying her reputation was permanently wrecked, turning her into a “caricature to be mocked and vilified.” They also argue that Holmes poses no hazard to the general public and has no prior felony heritage.

Contacting the case “one of the most significant white collar offenses Silicon Valley or any other District has found,” prosecutors vehemently turned down defense attorneys’ characterization that Holmes had been unfairly victimized, in part by media protection.

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Holmes is established to show up for sentencing on Nov. 18 in federal courtroom in San Jose, California ahead of US District Judge Edward Davila. She faces up to 20 several years in prison for each count.

The Linked Push contributed to this report.

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