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Theranos Founder Elizabeth Holmes’ Scattered Offer to Reduce Discount Fees – Silicon Valley




Theranos founder Elizabeth Holmes threw her criminal charges and accusations at the wall to see if she could bring any down, but they all got stuck.

The Stanford University dropout, charged with a dozen counts of fraud over his late blood testing startup Palo Alto, filed six motions in U.S. District Court in San Jose at the end of the August, seeking to have indictments and charges dismissed.

Judge Edward Davila dismissed them all on Tuesday, paving the way for a trial scheduled to begin in March.

At Holmes’ claim that his right to a speedy trial was violated because federal prosecutors unreasonably delayed filing two indictments, Davila found that most of the delay resulted from his team’s request. more time before the trial, the coronavirus pandemic subsequently postponing this date. further into the future.

Holmes’ attorneys had argued that holding a trial over events dating back more than a decade meant witnesses might be unavailable or have fading memories, Davila noted, but their argument was “too much. vague and speculative ”to indicate that his rights would be infringed, he wrote. .

Moreover, writes Davila, the question is complex. “The case involves two fraudulent plots with multiple victims, two co-defendants and a voluminous find,” he wrote. “The Court considers that the length of the delay was ‘not excessive’ in light of this complexity.”

Another Holmes petition argued that a half-dozen charges should be dismissed because two subsequent indictments broadened the charges against her, violating the statute of limitations, which governs the period of time that can s ” elapse between an alleged infringement and the commencement of legal action. Since the charges in the three indictments against Holmes are “essentially the same”, Davila denied the petition.

A third petition making similar claims about the limitation period failed for similar reasons. AndHolmes’ request to dismiss his two most recent indictments on the grounds that by broadening the definition of investors they have become impermissibly imprecise, Davila has not convinced either. “The Court is not convinced that the definition of ‘investors’ has been broadened,” he wrote.

Holmes, who founded Theranos in 2003, is accused of defrauding investors for hundreds of millions of dollars and defrauding patients with false claims that the company’s machines could perform a full range of tests using only a few drops of blood. She and her co-defendant, former company chairman Sunny Balwani, have denied the allegations.

Two other motions that Davila rejected argued that some of Holmes’ accusations duplicated each other and that recent indictments violated an earlier Davila decision, while the remaining petition repeated previous claims he had spoken against.

Holmes faces a potential 20-year jail term, up to $ 2.75 million in fines and possible restitution to investors who the government claims to have lost over $ 700 million. The federal government said that if she was found guilty it would go after any money or ill-gotten gains she might have. Plaintiffs in a separate civil case seek unspecified damages.

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