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Globe/wire say SEC hears Holmes a wonderful person

2022-11-14 07:35 ET - In the News

See In the News (C-*SEC) U S Securities and Exchange Commission

The Globe and Mail reports in its Saturday edition that Elizabeth Holmes urged a U.S. judge not to send her to prison, as the founder of Theranos prepares to be sentenced next week for defrauding investors in the blood testing start-up. A Reuters dispatch to The Globe says that in a Thursday night court filing, lawyers for Ms. Holmes asked that she receive 18 months in home confinement, followed by community service, at her Nov. 18 sentencing before U.S. District Judge Edward Davila in San Jose, Calif. The lawyers said prison time was unnecessary to deter future wrongdoing, calling the 38-year-old Ms. Holmes a "singular human with much to give" and not a robotic, emotionless caricature. "No defendant should be made a martyr to public passion," the lawyers wrote. "We ask that the court consider, as it must, the real person, the real company and the complex circumstances surrounding the offence." A jury convicted Ms. Holmes in January on four counts of wire fraud and conspiracy. Each count carries a maximum 20-year prison term, likely served concurrently. Prosecutors said Ms. Holmes lied to investors from 2010 to 2015 by promising Theranos's technology could run many tests on one drop of blood from a finger prick.

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