Hike sentence

Prosecutors Seek 15-Year Jail for Theranos’ Elizabeth Homes, $800M Restitution

“Federal prosecutors are asking a judge to sentence Elizabeth Holmes to 15 years in prison,” reports the Guardian, “and demanding that the Theranos founder pay $800 million in restitution, according to court documents filed Friday.”

A jury found Holmes guilty in January of four counts of fraud and conspiracy against investors. Her sentencing is scheduled for November 18 and she faces a maximum of 20 years in prison. Prosecutors argued that “given the scale of Holmes’ fraud”, their recommended sentence “would reflect the seriousness of the offenses, provide a just sentence for the offenses, and deter Holmes and others.”

Holmes’ attorney argued in papers filed Thursday that the former Theranos boss should not be sentenced to jail at all and, at most, should receive 18 months of house arrest. Court documents argued that Holmes had been turned into a “caricature to be mocked and vilified” by the media over the years, despite being a caring mother and friend.

“Ms. Holmes poses no danger to the public,” Holmes’ attorney said in court documents. “She has no criminal history, has a perfect pre-trial services compliance record and is described by people who know her repeatedly as a gentle, loving person who tries to do the right thing.”