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Elizabeth Holmes’ sentencing for the Theranos fraud is expected in September.

Disgraced Following her conviction for defrauding investors, Theranos founder Elizabeth Holmes is expected to be sentenced in September.

According to a court filing Tuesday, Holmes’ sentencing is set for September 12.

According to CNBC, prosecutors and Holmes’ attorneys agreed to postpone her sentencing until after Labor Day “in light of ongoing proceedings in a related matter.”

This is in reference to the upcoming fraud trial of Ramesh “Sunny” Balwani, Holmes’ ex-boyfriend and former Theranos CEO.

The presiding judge, on the other hand, has the final say over the sentencing schedule.

Meanwhile, Holmes is free on a $500,000 bond secured by real estate.

According to the filing, prosecutors agreed to drop three fraud charges against Holmes after the jury in her trial was unable to reach a decision.

Disgraced After being convicted of defrauding investors, Theranos Founder and CEO Elizabeth Holmes will most likely face sentencing on September 12, 2022.
Sipa USA/Martin E. Klimek/USA Today Network

Prosecutors have agreed to drop three fraud charges against Holmes after the jury in her trial was unable to reach a consensus

Holmes, 37, was found guilty of three counts of wire fraud and one count of conspiracy to commit fraud earlier this month. Jurors determined that the Theranos fraudster purposefully misled investors about the medical tech startup’s operations and the accuracy of its blood-testing machine.

Each count of fraud carries a potential prison sentence of up to 20 years. The charges, however, can be served concurrently, and Holmes is not expected to receive the maximum sentence.

Holmes’ conviction marked the end of a stunning downward spiral. After attracting investments from a variety of high-profile figures, Theranos was once valued at $9 billion, and Forbes named Holmes the world’s youngest female billionaire in 2015.

Elizabeth Holmes is currently free on $500,000 bond secured by property.

The medical startup imploded after a series of damning news reports revealed that its blood-testing device could not perform many of the functions claimed by Theranos.

One of Holmes’ trial jurors said last week that documents provided to investors that contained false information were the “smoking gun” that led to her conviction.

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Akanksha Jain

Akanksha Jain love to learn new stuff every day. With a background in computer science and a passion for writing, she loves writing for Startup, Business sections of Editorials99.

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