Elizabeth Holmes’ Fraud Sentencing Has Been Delayed, Here’s Why

Let’s start by explaining who Elizabeth Holmes is and what her crime is before we move into why her sentencing hearing is been delayed, shall we? This is for the benefit of anyone who’s hearing about her for the first time. You see, the notorious Elizabeth Holmes is a dropout from Stanford University who went on and founded a medical institution named Theranos in the early 2000s, with a whole lot of money, we’re talking about millions upon millions of dollars here.

After Elizabeth had established her medical line and equipped it with high-profile workers, she sent out pitches that her organization was the very best of the best because it can detect various forms of the disease with its own tech developed by the organization, according to their business pitches, all their technology has to do to detect a disease was to get a blood sample of the patient via finger prick method, Theranos tech can detect any form of disease whether it’s cancer, high cholesterol, etc.

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Elizabeth became one of the most successful youngest self-made woman billionaires in the world. Well, Theranos functioned for almost a decade before a Wall Street Journal exposé brought to light that the activities of Elizabeth were fraudulent as she so-called technology doesn’t carry out the function it was said to be doing, instead, the company makes use of traditional machines to perform its tests. It was also reported that Theranos defrauded investors through deceit, and raised over $1 billion.

Elizabeth Holmes — Why Elizabeth’s Sentencing Is Been Delayed

The thing is, Elizabeth was arrested and charged to court, she has been found guilty of three counts of wire fraud, and one count of conspiracy to commit wire fraud, her sentencing hearing was scheduled to hold on Oct. 17 of this month but it’s been delayed because Elizabeth’s legal team filed a motion for a retrial on Sept. 6 citing “newly discovered evidence.”

According to Elizabeth’s legal team, a significant key witness Dr. Adam Rosendorff an ex-lab director in Theranos who testified during Elizabeth’s trial requested to meet with the legal team of Elizabeth before heading to Elizabeth’s family house. There, Adam met Elizabeth’s husband William Evans and spoke with him. Evans then wrote to Elizabeth’s legal team via mail the contents of his conversation with Adam, which led the legal team to file for a retrial.

CNN reported that the mail Evans sent to Elizabeth’s team explained that Adam “said when he was called as a witness he tried to answer the questions honestly but that the prosecutors tried to make everybody look bad” it also said that Adam “felt like he had done something wrong” Adam alleged that “the government made things sound worse than they were.”

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Elizabeth Holmes — What The Judge Thinks Of The New Development

Edward Davila who is the U.S. District Judge didn’t say when the next sentencing of Elizabeth will take place but a new hearing has been scheduled to hold this month on Oct. 17. NBC News reported that Judge Edward thinks the allegation from Adam is serious, “The allegation is the possibility that the government may have engaged in misconduct. The court takes that seriously.”

With each count of Elizabeth’s crimes, if sentenced, she could serve a minimum of 20 years each and a $250,000 fine plus restitution at sentencing.

Be sure to catch up on everything happening with Elizabeth Holmes right now. Come back here often for all the Elizabeth Holmes spoilers, news, and updates.