Former Theranos CEO Elizabeth Holmes To Be Sentenced Sept 26
Theranos founder and former CEO Elizabeth Holmes is set to be sentenced on September 26 on her convictions for defrauding investors.
Holmes was convicted on January 3 on three counts of fraud and one count of conspiring to defraud private investors in the blood-testing company. She currently remains free on a $500,000 bond secured by properties.
According to court filings, Holmes plans to ask the judge overseeing her case to overturn her convictions. If the judge does not overturn her convictions, Holmes is likely to appeal and may seek to suspend her sentence until a final ruling.
Theranos, founded by Holmes in 2003, claimed it would revolutionise the medical testing space with the introduction of a new blood diagnostic technology that could perform several tests with just a finger prick of blood. Theranos came to be valued at $9 billion. However, it was later found that the company’s claims were largely fabricated, with reports from the Wall Street Journal revealing that Theranos had been widely overstating the capabilities of its devices.