United States v. Elizabeth A. Holmes, et al.
Criminal fraud case / From Wikipedia, the free encyclopedia
United States v. Elizabeth A. Holmes, et al., (No. 18-CR-00258-EJD)[1] was a United States federal criminal fraud case against the founder of now-defunct corporation Theranos, Elizabeth Holmes, and its former president and COO, Ramesh Balwani. The case alleged that Holmes and Balwani perpetrated multi-million dollar wire-fraud schemes against investors and patients. Holmes and Balwani each had their own jury trial.
United States v. Holmes | |
---|---|
Court | United States District Court for the Northern District of California |
Full case name | United States v. Elizabeth A. Holmes, et al. |
Decided | January 3, 2022 |
Court membership | |
Judge(s) sitting | Edward J. Davila |
A five-person team from premier white-collar crime litigation firm Williams & Connolly defended Holmes.[2] The case began on August 31, 2021, when a jury of Santa Clara County residents was selected.[3] The jury reached a split verdict on January 3, 2022, with Holmes found guilty of criminal fraud on four counts.[4] On November 18, 2022, she was sentenced to 11.25 years in prison (135 months).[5] She started her 11-year prison sentence on May 30, 2023.[6]
Balwani had the same charges as Holmes. On July 7, 2022, Balwani was found guilty on all counts and also faced up to 20 years in prison and millions of dollars in restitution.[7][8][9] On December 7, 2022 he was sentenced to 12 years and 11 months, plus three years of probation, and surrendered on April 20, 2023.[10][11]
Holmes and Balwani were further ordered to pay $452 million to the victims of the fraud, with responsibility for the amount shared between them.[12]