Their series of trials spans almost a year, marking the final chapter of a startup that has become prominent and a $ 9 billion valuation, revolutionizing blood testing and alerting technology founders and businesses. I promised that.
Expectations are now directed at a judgment hearing, scheduled for Holmes in late September and Balwani in mid-November, a few weeks apart from each other.
Sentence
Holmes and Balwani each face up to 20 years in prison, a $ 250,000 fine and a refund per count. However, legal experts say that it is very rare for someone to receive the full amount. Prison time related to the accusation may also be provided at the same time.
“This fee defines the biggest thing a person can get, but everyone gets the most,” said Nancy Gartner, a former federal judge and senior instructor at Harvard Law School. No, “he said. She also said the judge may decide to weigh the damages more heavily over the duration of the prison. “It doesn’t happen very often in recent years because it can look like someone is buying their way out of jail — but it can happen.”
Judge Edward Davila, who presided over both Holmes and Balwani trials, will refer to the judgment guidelines and ultimately decide what fate he deems appropriate. Judge Davira considers various factors, such as fraudulent amounts. For example, the total cost of fraud related to private investors has exceeded $ 154 million.
Between their conviction and the scheduled date of judgment, the probation office will investigate each of the former executives and take a holistic view of their history, from family to finance and crime, and the judge will decide. Judgment to help. It may also include factors such as psychological history and trauma. Trauma can be played by Holmes’ claims about the nature of his relationship with his senior, Balwani, who is nearly 20 years old. Holmes and Balwani are also allowed to file a memorandum of understanding in court for the generosity of the judgment.
“Crime itself is the only factor in the decision,” Rachel Maimin, a partner at Lowenstein Sandra LLP, which specializes in white-collar defense, told CNN Business. “It’s a very important factor, but it’s definitely not the only one … they will each be judged by their actions and their life history.”
Free with Bond
Separate juries eventually found both Holmes and Balwani guilty, but they returned different verdicts.
Balwani, who played a formal role at Theranos in 2009 and oversaw key aspects of the company, including a lab that handles patient testing, has all 12 cases, including 10 federal wire frauds and two crime plots. Was convicted of. Wire fraud.
A hearing on Holmes’ acquittal allegations is scheduled for later this month.
Meanwhile, Orrick Herrington & Sutcliff’s Balwani lawyer Jeffrey Coopersmith said in a statement Thursday that the defense is looking for a way to fight the verdict.
“We are clearly disappointed with the ruling,” he said. “We will study and consider all of Mr. Balwani’s options, including appeals.”
Source: www.cnn.com
