‘It’s the amount of the loss that seems to be the common denominator when looking at the duration of the sentence, and that’s not a good prognosis for Ms. Holmes,’ former prosecut…
Theranos founder Elizabeth Holmes fraud conviction has raised two big questions: Will she go to prison? And if so, for how long?
Judge Edward Davila, who has set Holmes’ sentencing hearing for Sept. 26, has put big-money fraudsters into prison for lengthy terms. She remains free on bail pending her sentencing hearing. The attention given to Holmes’ spectacular fall rivals the publicity attending the downfalls of America’s most infamous scammers, including former Enron CEO Jeffrey Skilling, who received 14 years over more than $60 billion in investor losses, former WorldCom boss Bernard Ebbers, who got 25 years for leading an $11 billion fraud, and mega-Ponzi-schemer Bernie Madoff, who was handed a 150-year sentence for defrauding investors out of up to $65 billion.
The losses in Holmes’ case come in far below those from Madoff and Skilling — but the sentencing guidelines add negative points for loss amounts. Davila could also conclude that Holmes’ conspiracy conviction covers more than the losses under the three defrauding-investors counts — the government alleges hundreds of millions of dollars in total damage — and bump up her sentence, Clark said.
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