Why Are Federal Prosecutors Asking For Elizabeth Holmes’s Prison?

In a Friday briefing, federal prosecutors requested that Theranos CEO Elizabeth Holmes get a 15-year prison term.

Elizabeth is a convicted fraudster who worked as a biotechnology entrepreneur in the US. In 2003, Holmes founded Theranos and served as its CEO.

Forbes named Holmes the youngest and richest self-made female billionaire in America in 2015 based on her company’s $9 billion valuation.

Elizabeth Holmes
Image Source: bloomberg

Why Are Federal Prosecutors Asking For Elizabeth Holmes’s Prison?

Federal prosecutors asked a judge to sentence Elizabeth Holmes to 15 years in jail and force the creator of Theranos to pay $800 million in damages, according to court documents submitted on Friday.

A jury found Holmes guilty on four counts of conspiracy and investment fraud in January. On November 18, she will be given a sentence that may include up to 20 years in prison.

Given the degree of Holmes’s lying, the prosecution claims that its recommended term would “reflect the seriousness of the accusations, provide for appropriate punishment for the acts, and dissuade Holmes and others.”

Holmes’ counsel argued in documents filed on Thursday that the former Theranos CEO should only get 18 months of house arrest rather than any jail time.

Image Source: foxbusiness

Despite being a devoted mother and friend, Holmes has, throughout the years, been reduced by the media to a “caricature to be mocked and reviled,” according to court records.

Where Is Elizabeth Holmes Now?

Elizabeth Holmes, according to CNBC, is currently free on bail and staying in her $135 million Silicon Valley home. She marries William “Billy” Evans. After getting engaged in 2019, the pair gave birth to a boy in 2018.

In court last month, according to the NYT, Holmes seemed to be expecting a second child. Following the verdict, she is likely to file an appeal.

According to the AP, Ramesh “Sunny” Balwani, her ex-boyfriend and the CEO of Theranos, will be punished on December 7, 2022. CNN reports that he may be sentenced to up to 20 years in prison for each crime and a $250,000 fine (plus restitution).

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