Elizabeth Holmes convicted of fraud

[EEVblog]

She's going in! 
https://www.reuters.com/legal/court-denies-elizabeth-holmes-request-remain-free-while-appealing-conviction-2023-05-17/

[SiliconWizard]

Who's next?

[james_s]

She's going in! 
https://www.reuters.com/legal/court-denies-elizabeth-holmes-request-remain-free-while-appealing-conviction-2023-05-17/

[AlbertL]

Wow, I wasn't expecting that!  Good job.

[floobydust]

"U.S. District Judge Edward Davila concluded that even if Holmes won her appeal to challenge the Theranos technology evidence, it wouldn't result in a reversal or a new trial of all the counts she was found guilty of."

Uh you ain't innocent lol

[SiliconWizard]

No one's innocent.

[PlainName]

She's going in! 
https://www.reuters.com/legal/court-denies-elizabeth-holmes-request-remain-free-while-appealing-conviction-2023-05-17/

She ain't there yet.

Don't know why they don't just put her straight away - it is past her due date, after all. Instead, she is still out while they arrange another date with destiny, and while her legal people dream up another gotcha.

[Ed.Kloonk]

and while her legal people dream up another gotcha.

More moves than Fred Astaire.

[EEVblog]

She ain't there yet.
Don't know why they don't just put her straight away - it is past her due date, after all. Instead, she is still out while they arrange another date with destiny, and while her legal people dream up another gotcha.

Yeah, it's just a stupid waste of everyone time. Appeal failed, "bailiff, take the accused into custody." Call the van.

[rsjsouza]

Perhaps to give time for her to get pregnant again? 

With such corruption in the justice system in certain areas of US, I wouldn't be surprised the defense team is stonewalling the decision or trying to get some sort of deal.

As we say in Brasil: To my friends, anything. To my enemies, the heavy hand of the law!

[Sal Ammoniac]

Her only option now is an appeal to the Supreme Court, and it’s extremely unlikely they’d agree to hear the case.

[floobydust]

Her 3 mo. old daughter's name Invicta, Latin for “invincible,” or “undefeated” 
The second ruling "U.S. District Judge Edward Davila ordered Holmes to pay $452 million in restitution to the victims of her crimes. " {I think it's joint with Balwani}
She's also gotta pay now, might have money problems paying the armada of lawyers.

[tom66]

Her 3 mo. old daughter's name Invicta, Latin for “invincible,” or “undefeated” 
The second ruling "U.S. District Judge Edward Davila ordered Holmes to pay $452 million in restitution to the victims of her crimes. " {I think it's joint with Balwani}
She's also gotta pay now, might have money problems paying the armada of lawyers.

Jointly liable as well.  So they both have to pay, if one can't pay the other has to cover the full amount.  Realistically though she will have zero assets.  She is staying freely in her partner's house, so they can't touch that, she will be paying lawyers on contingency, legal fees probably secured against the house too, I doubt she owns more than her phone and her clothes.  So what do they do?

Also, I'd really hope this outcome causes VCs to take a step back and investigate more thoroughly before throwing money into obvious scams, see also: uBeam.

[magic]

I doubt she owns more than her phone and her clothes.  So what do they do?

I  know what I would do

[Bud]

I take "victims of her crime" are those idiots who rushed to buy shares back then?

[AVGresponding]

I take "victims of her crime" are those idiots who rushed to buy shares back then?

Maybe the patients that were given false hope?

[mendip_discovery]

I take "victims of her crime" are those idiots who rushed to buy shares back then?

Ok man of much hindsight what made them idots to invest in a new exciting firm that was working on a product that may well have changed the way people get diagnosed for illnesses if it had worked, oh and if you invest early enough you could make millions. Just look at how some of the biggest companies started and they had just as weak ideas about how they would make money, from an American firm selling electric cars to one wanting to rent videos and dvds via the post.

[Bud]

I take "victims of her crime" are those idiots who rushed to buy shares back then?

Maybe the patients that were given false hope?

Based on the Reuters article

The victims’ losses occurred at the moment they exchanged their money for Theranos shares,” the judge said.

[helius]

Ok man of much hindsight what made them idots to invest in a new exciting firm that was working on a product that may well have changed the way people get diagnosed for illnesses if it had worked, oh and if you invest early enough you could make millions.

Theranos's (sounds like Thanos) investors were so-called "qualified investors", not average Joes. That means they bear the responsibility to do their own due diligence on investments they make. Holmes committed fraud by deceiving investors, public customers, and affiliates like Walgreens about her company's technology. But the investors were not innocents.

Just look at how some of the biggest companies started and they had just as weak ideas about how they would make money, from an American firm selling electric cars to one wanting to rent videos and dvds via the post.

Neither of those were "weak ideas". A long path to profitability is not a bad or fraudulent business model.

[.RC.]

Holmes committed fraud by deceiving investors, public customers, and affiliates like Walgreens about her company's technology.

Sounds like all the hallmarks of a great career in politics.   

But it is ludicrous the way one person tells a heap of lies to get money out of people, and that is OK.   Yet others get the book thrown at them. There is no consistency seemingly anywhere in the world when it comes to fraud convictions.

[PlainName]

I take "victims of her crime" are those idiots who rushed to buy shares back then?

Maybe the patients that were given false hope?

Based on the Reuters article

The victims’ losses occurred at the moment they exchanged their money for Theranos shares,” the judge said.

I think the judge is saying they were scammed from the off. Like if you buy a new car that turns out to be a cut'n'shut job, you lost your money at the moment you handed it over. As opposed to it being possibly OK and  then greed took over down the line to make an otherwise OK deal worthless.

[SiliconWizard]

But it is ludicrous the way one person tells a heap of lies to get money out of people, and that is OK.   Yet others get the book thrown at them. There is no consistency seemingly anywhere in the world when it comes to fraud convictions.

You just need to know the right people and have them by the balls.
She didn't.

[Sal Ammoniac]

May 30th at 2:00pm -- that's when she's been ordered to report to prison.

[MrMobodies]

She's going in! 
https://www.reuters.com/legal/court-denies-elizabeth-holmes-request-remain-free-while-appealing-conviction-2023-05-17/

Excellent just when I thought nothing would happen.

Holmes, who rose to fame after claiming Theranos' small machines could run an array of diagnostic tests

Joke: Maybe the shareholders should have run their own "diagnostic tests" on her from the beginning before paying their way in.

[HighVoltage]

During the trial she was on the witness stand.
Did she keep her deep voice or did it fall back to "normal" ?
I don't think there are any videos of her from inside the courtroom.