The defense for disgraced biotech mogul Elizabeth Holmes, who once had an estimated net worth of $4.5 billion, is objecting to proposed changes in her case that include $250 monthly payments to victims. elizabethholmes kprc2 click2hou
Female inmates move between buildings at the Federal Prison Camp where Elizabeth Holmes, the former founder and CEO of Theranos, is expected to arrive to begin her 11 year sentence for fraud relating to the defunct company Tuesday, May 30, 2023, in Bryan, Texas. , who once had an estimated net worth of $4.5 billion, is objecting to proposed changes in her case that include $250 monthly payments to victims.
In a filing in federal court in California, the team argued that implementing prosecutors’ proposed restitution schedule would amount to a significant modification to the outcome of Holmes’ fraud trial.for misleading investors about the speed, convenience and capability of high-tech blood tests developed by the Silicon Valley company she ran, Theranos.
The San Jose federal court found that she and Theranos Chief Operating Officer Ramesh Balwani, convicted in a separate trial of 12 counts of fraud and conspiracy, are liable for covering more than $452 million in investor losses.
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