Nov 17, 2022 - Economy & Business

Elizabeth Holmes nears her moment of truth

Photo illustration of Elizabeth Holmes

Photo illustration: Aïda Amer. Photo: Taylor Hill/FilmMagic via Getty Images.

Elizabeth Holmes on Friday will learn her punishment for defrauding investors in her failed blood-testing company, Theranos.

Why it matters: This will be the culmination of a legal case that began more than four years ago, putting Silicon Valley's "fake it 'til you make it" culture on trial.

Prosecutors want a 15-year jail sentence, per a 46-page court filing that also asks that Holmes pay full restitution.

  • Holmes was convicted on four charges of wire fraud and conspiracy to commit wire fraud with regards to certain investors.

Defense attorneys want 18 months of house arrest, plus community service, per an 82-page sentencing memorandum that portrays Holmes as an unsophisticated business newbie who was unfairly maligned by media meanies.

  • Holmes' defense also includes dozens of letters of support from family, friends and associates. Among them: Venture capitalist Tim Draper, entrepreneur Gina Bianchini, Sen. Cory Booker (D-NJ) and the current proprietor of Buck's Restaurant in Woodside, California.

Reminder: Holmes wasn't found guilty of any charges involving Theranos patients.

Look ahead: Sentencing for ex-Theranos president Sunny Balwani, a onetime romantic partner of Holmes who also was found guilty of fraud.

Go deeper