Last week, former Theranos CEO Elizabeth Holmes was convicted on four different fraud related charges. This week, a federal judge has determined that she will be sentenced for those crimes on September 26, 2022.
For the next nine months, she will remain free under a $500,000 bond. Holmes will reportedly spend her time living at a $135 million Silicon Valley estate with her partner, Billy Evans. The couple recently celebrated the birth of a baby boy.
“It’s not typical for a case to be sentenced eight months out, but this is not a typical case in many senses,” former federal prosecutor Amanda Kramer told NPR.
Holmes faces a maximum sentence of 20 years in federal prison. Given her lack of prior criminal activity, it is unlikely that she will receive the maximum sentence. With that said, Kramer and other legal experts say that would be “utterly shocked” if Holmes is let off with no jail time at all.
“I would be utterly shocked if she wasn’t sentenced to some term of imprisonment,” Kramer explained.
“What is the sentence that will deter others who have a failing business from making the choice to commit fraud, rather than owning up to the failings and losing their dream?”
Holmes’ trial precedes the legal proceedings set for her former boyfriend and business partner, Ramesh “Sunny” Balwani. In March, he will also face several fraud related charges for his involvement in Theranos. While his trial is separate from Holmes’, it is possible that evidence that is presented at his trial could impact her sentencing.
“Some facts established in Balwani’s trial might prove to be relevant in Holmes’ sentencing,” Kramer shared with NPR.
Balwani has pled not guilty to all charges.
