CA - Elizabeth Holmes (Theranos) Wire Fraud

[Seattle1]

Theranos employees 'destroyed crucial blood test database that proved their product was a fraud' | Daily Mail Online

Jan 12, 2021

Theranos, the blood-testing start-up that promised to revolutionize health care only to collapse after its hyped product turned out to be a dud, destroyed incriminating evidence proving that it engaged in fraud, prosecutors allege.

Federal authorities also allege the company’s star CEO Elizabeth Holmes, 36, and her former lover and COO, Ramesh ‘Sunny’ Balwani, 56, used funds from investors to subsidize an extravagant lifestyle while peddling a fraudulent product.

Prosecutors submitted a filing to federal court in San Francisco on Monday alleging that Theranos executives destroyed data that proved their blood-testing product was inaccurate.

Knowingly misleading investors by providing false data is a federal crime.

The company knew about its inaccurate testing data that was collected over a period of three

years, according to The Register.

____________

Case 5:18-cr-00258-EJD Document 682 Filed 01/11/21 Page 1 of 16

Monday's document is available at the newslink above.

 

[RickshawFan]

Theranos employees 'destroyed crucial blood test database that proved their product was a fraud' | Daily Mail Online

Jan 12, 2021

Theranos, the blood-testing start-up that promised to revolutionize health care only to collapse after its hyped product turned out to be a dud, destroyed incriminating evidence proving that it engaged in fraud, prosecutors allege.

Federal authorities also allege the company’s star CEO Elizabeth Holmes, 36, and her former lover and COO, Ramesh ‘Sunny’ Balwani, 56, used funds from investors to subsidize an extravagant lifestyle while peddling a fraudulent product.

Prosecutors submitted a filing to federal court in San Francisco on Monday alleging that Theranos executives destroyed data that proved their blood-testing product was inaccurate.

Knowingly misleading investors by providing false data is a federal crime.

The company knew about its inaccurate testing data that was collected over a period of three

years, according to The Register.

____________

Case 5:18-cr-00258-EJD Document 682 Filed 01/11/21 Page 1 of 16

Monday's document is available at the newslink above.

As Seattle indicates, the court filing which presents the details about the database destruction are provided in this Daily Mail article.

It's mindblowing what Theranos was doing that we hadn't heard of yet. I'll bet this is the tip of the iceberg.

Do we know when this trial will be?

 

[Seattle1]

As Seattle indicates, the court filing which presents the details about the database destruction are provided in this Daily Mail article.

It's mindblowing what Theranos was doing that we hadn't heard of yet. I'll bet this is the tip of the iceberg.

Do we know when this trial will be?

From an earlier link, the trial is expected to begin July 13, 2021 -- four months later than previously scheduled.

Also, to be clear, the filings are allegations that are yet to be decided in court.

 

[Niner]

from my notes re Holmes' hearings.



12/18/20 Update: Holmes: Pretrial motions hearing on 1/22/21 has been cancelled. U.S. District Court Judge Edward J. Davila, who is presiding over the San Jose-based wire fraud case against Holmes, said in court papers filed late last week that the trial is now expected to begin on July 13, 2021 – four months later than the March date that had previously been set. And hearing 0n 2/16 has also been cancelled.

I've looked thru 2/24 for any hearings for her, but have not come up with any. Balwani has a atatus hearing on 2/9.

 

[Auntie Cipation]

Former Secretary of State George Schultz has died at age 100.

George Shultz, former secretary of state, dead at age 100 - CNNPolitics

I wonder if he was intended to be a witness in the prosecution's case against Holmes.

 

[Niner]

Tuesday, Feb. 9th:
*Status Conference Hearing (@ 10am PT) - CA – *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) indicted & charged (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud & charged & indicted (4/11/20) with fraud relating to a patient's blood test. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & a fine of $2.75 million, plus restitution, & $250K for each individual count of wire fraud & conspiracy. Judge Edward J. Davila (U.S. District Court, San Jose) Federal Court
Trial was set to begin on 3/9/21 with jury selection has been continued to 7/13/21. (Trial will begin at 9am).
See below for court info on Holmes.
Only for *Ramesh “Sunny” Balwani (53/now 55) (CFO & President of Theranos) indicted & charged (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & a fine of $2.75 million, plus restitution, & $250K for each individual count of wire fraud & conspiracy. Judge Edward J. Davila (U.S. District Court, San Jose) Federal Court 5:18-cr-00258-EJD-2
Trial set to begin after Holmes’ trial.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Indictment & court info from 4/11/20 thru 10/14/20 reference post #168 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
12/2/20 Update: Balwani: Next status hearing on 12/8/20. Holmes: No info from hearing. Next pretrial motions hearing on 1/22/21 @ 10am. 12/8/20 Update: Balwani: Next status conference hearing on 2/9/21.
12/18/20 Update: Holmes: Pretrial motions hearing on 1/22/21 has been cancelled. U.S. District Court Judge Edward J. Davila, who is presiding over the San Jose-based wire fraud case against Holmes, said in court papers filed late last week that the trial is now expected to begin on July 13, 2021 – four months later than the March date that had previously been set. And hearing 0n 2/16 has also been cancelled. No update as of 2/8/21.
1/11/21: Prosecutors submitted a filing to federal court in San Francisco on Monday alleging that Theranos executives destroyed data that proved their blood-testing product was inaccurate. Knowingly misleading investors by providing false data is a federal crime. The company knew about its inaccurate testing data that was collected over a period of three years.

 

[Auntie Cipation]

@Niner can you confirm if this is true?

https://twitter.com/RebeccaJarvis/status/1359255320003047424?s=20

(sorry I don't know how to embed a tweet -- it's someone claiming Balwani's trial has been moved to 2022)

 

[Niner]

I brought the tweet over....

Rebecca Jarvis
@RebeccaJarvis
·
10h
UPDATE: The Trial of *Sunny Balwani* has been moved to January 11, 2022.

The Trial of Elizabeth Holmes will begin with jury selection July 13, 2021. It has already been moved multiple times due to COVID.


JUST IN: The criminal trial of Theranos founder Elizabeth Holmes which has already been pushed multiple times due to COVID, now has a new start date: Jan 11,2022.

Reminder: The DOJ first brought charges against Holmes and COO Sunny Balwani in June 2018.

link: https://twitter.com/RebeccaJarvis/status/1359255320003047424?s=20


Don't know "who" this person is - but I have not heard anything besides this.

I did find this in the court hearing - nothing for Balwani, but Holmes has a court hearing on there:

Tuesday, Mar 23 2021
10:00AM
5:18-cr-00258-EJD-1 - USA v. Elizabeth A. Holmes
AUSA: Jeffrey Schenk / DEF: Kevin Downey
Motions in Limine Hearing

link: CALENDAR

 

[Niner]

And of course not getting any current articles (over here) on "what" happened at the hearing for Balwani - maybe a local or @Seattle1 can find something?

Not too sure if their trials will be the same day - as I have in my notes that Holmes will be tried first...

 

[Seattle1]

Ex-Theranos COO's Fraud Trial Moved To January 2022 - Law360

Feb 9, 2021

Law360 (February 9, 2021, 4:45 PM EST) -- A California federal judge on Tuesday pushed back former Theranos chief operating officer Ramesh "Sunny" Balwani's criminal fraud trial over the blood-testing startup to January 2022, after delaying former Theranos CEO Elizabeth Holmes' trial in a companion case from March to July due to the coronavirus pandemic.

During a hearing on Zoom, U.S. District Judge Edward Davila agreed to delay Balwani's trial to 2022, with jury selection beginning Jan. 11. He added that the January trial date is "really the most realistic," given the challenges posed by the pandemic and the likelihood that Holmes' trial and post-trial motions could run through November.

Since the pandemic has forced courthouses across the country to go virtual, the jury trials in the government's closely watched cases against Holmes and Balwani have been rescheduled multiple times.

If Holmes' trial begins on July 13 as it's currently scheduled, she will face a jury more than three years after the government initially hit her and Balwani with a grand jury indictment in 2018 and six years after Wall Street Journal reporter John Carreyrou's articles first raised doubts about the now-defunct startup.

@Niner

 

[Seattle1]

Rebecca Jarvis[URL='https://twitter.com/RebeccaJarvis']@RebeccaJarvis[/URL]

Replying to
@RebeccaJarvis
UPDATE: The Trial of *Sunny Balwani* has been moved to January 11, 2022. The Trial of Elizabeth Holmes will begin with jury selection July 13, 2021. It has already been moved multiple times due to COVID.

1:38 PM · Feb 9, 2021

 

[Niner]

Okay - I was confused this morning - not enough coffee - now I see it is Balwani's trial that will start on 1/11/22 - and Holmes is still on 7/13/21.

Thanks for setting me straight @Seattle1 !

 

[Niner]

Thursday, Mar 25 2021

10:00AM
5:18-cv-01603-EJD - Securities and Exchange Commission v. Ramesh Sunny Balwani
Status Conference

link: CALENDAR

 

[meanmaryjean]

Elizabeth Holmes is pregnant, likely delaying the Theranos founder's criminal trial - CNN

Because why not?

 

[SandyQLS]

Elizabeth Holmes is pregnant, likely delaying the Theranos founder's criminal trial - CNN

Because why not?

Good grief. I will never understand the attraction to this woman... Another link:
Disgraced Theranos founder Elizabeth Holmes pregnant requests a delay in her July trial | Daily Mail Online

 

[RickshawFan]

Disgraced Theranos founder Elizabeth Holmes' trial could be delayed by pregnancy

 

[BrownRice]

Disgraced Theranos founder Elizabeth Holmes' trial could be delayed by pregnancy

Of course she is!

 

[Niner]

and I see her court date of 3/23 for motions hearing is cancelled & this instead.

Wednesday, Mar 17 2021
08:30AM
5:18-cr-00258-EJD-1 - USA v. Elizabeth A. Holmes(NC)
AUSA: Jeffrey Schenk / DEF: Kevin Downey
Status Conference (Via Zoom Webinar Remotely)


link: CALENDAR


Balwani is still on 3/25/21 for status hearing.

 

[RickshawFan]

If her court date gets delayed until after birth, she won't be able to play the jury for sympathy by being obviously pregnant . In fact, most people now are savvy to the "I'm pregnant therefore it would be mean to hold me accountable" schtick. Watch her try to get out of jail time because of an infant.

 

[Niner]

Oops - I forgot to post her hearing on 3/17 - I had it on 3/23.... I'm going to post it anyway - just to keep my records straight....

Wednesday, March 17th:
*Motions Hearing (@ 10am PT) - CA – only for *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Trial was set to begin on 3/9/21 with jury selection continued due to COVID to 7/13/21 & continued due to Holmes’ pregnancy with jury selection beginning on 8/31/21.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Indictment & court info from 4/11/20 thru 1/11/21 reference post #186 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
2/10/21 Update: Holmes: Next Motion in Limine hearing on 3/23/21. 3/2/21 Update: Counsel for Defendant advised the government that Defendant is pregnant, with an expected due date in July 2021, prosecutors & attorneys for Holmes write. Both parties agree that, in light of this development, it is not feasible to begin the trial on July 13, 2021. Lawyers for Holmes asked the judge to delay the start of jury selection to 8/31/21, after her due date. 3/12/21 Update: Motion in Limine hearing was cancelled. Next status conference hearing on 3/17/21.
*Ramesh “Sunny” Balwani (53/now 55) (CFO & President of Theranos) indicted & charged (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud. Plead not guilty. No bond.
Faces a maximum sentence of 20 years in prison & a fine of $2.75 million, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Trial set to begin on 1/11/22 with jury selection, trial starts on 1/18/22.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Indictment & court info from 4/11/20 thru 1/11/21 reference post #186 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
2/9/21 Update: Balwani: During a hearing on Zoom, U.S. District Judge Edward Davila agreed to delay Balwani's trial to 2022, with jury selection beginning Jan. 11. He added that the January trial date is "really the most realistic," given the challenges posed by the pandemic & the likelihood that Holmes' trial & post-trial motions could run through November. Next status conference hearing on 3/25/21 @ 10am.