Holmes is set to appear for sentencing on Nov. 18 in federal court in San Jose, California.
Federal prosecutors have asked a judge to sentence disgraced Theranos CE0 Elizabeth Holmes to 15 years in prison, arguing she deserves a lengthy prison term because her massive scheme duped investors out of hundreds of millions of dollars by falsely convincing them her company had developed a revolutionary blood testing device.
“She repeatedly chose lies, hype and the prospect of billions of dollars over patient safety and fair dealing with investors,” Assistant U.S. Attorney Robert S. Leach wrote in a 46-page brief filed Friday. “Elizabeth Holmes’ crimes were not failing, they were lying — lying in the most serious context, where everyone needed her to tell the truth.”
Besides asking that Holmes receive a lengthy prison sentence, prosecutors called for the 38-year-old pay $803,840,309 in restitution for her role in the yearslong scheme that turned her into one of the most widely respected and immensely wealthy entrepreneurs in the Silicon Valley and the United States.“She preyed on hopes of her investors that a young, dynamic entrepreneur had changed healthcare. She leveraged the credibility of her illustrious board,” Leach wrote.
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