Elizabeth Holmes, the founder of Theranos.
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- A judge on Wednesday scheduled Elizabeth Holmes’ sentencing for September 26.
- It means the convicted Theranos founder will be free on bail through the summer.
- Holmes’ bail was set at $500,000, according to multiple reports.
Elizabeth Holmes will spend the summer a free woman after a judge scheduled the sentencing in the Theranos founder’s fraud conviction for late September.
Judge Edward J. Davila on Wednesday set the date for September 26, as reported by NPR’s Bobby Allyn. Until sentencing, Holmes will remain free on a $500,000 bail bond secured on property.
Prosecutors had earlier asked the judge for a mid-September sentencing date.
A jury convicted Holmes of four fraud-related charges on January 3. She was acquitted on four other counts, and the jury was deadlocked on three others.
Holmes faces up to 80 years in prison, with each count against her carrying a maximum term of 20 years. Legal experts told Insider they considered Holmes unlikely to face the maximum sentence but still likely to spend time imprisoned.
A former federal prosecutor, Amanda Kramer, told NPR that while eight months on bail was longer than the typical wait time for sentencing, the trial of Holmes’ former partner and former Theranos president Ramesh “Sunny” Balwani might have been an influencing factor. “Some facts established in Balwani’s trial might prove to be relevant in Holmes’ sentencing,” Kramer said.
Balwani’s trial is expected to begin in March after being delayed from February over COVID-19 concerns, Protocol reported.
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