Court delays sentencing for Theranos founder Elizabeth Holmes
SAN JOSE (CBS SF) - A federal court delayed the sentencing hearing for Theranos founder Elizabeth Holmes for almost a month.
Holmes was supposed to be sentenced on four cases of fraud on Sept. 26, but that has been delayed until Oct. 17.
The U.S. District court in San Jose, where Holmes was convicted back on Jan. 3 did not give a reason for the delay.
Holmes was convicted by a jury of three counts of defrauding investors about the company's blood-testing technology and one count of conspiracy to commit wire fraud against investors. Each count of fraud has a maximum sentence of 20 years in prison, but she is expected to get about 20 years total.
Her co-founder and boyfriend at the time Ramesh "Sunny" Balwani was convicted on 12 cases of fraud last week and is expected to be sentenced not too long after Holmes and is expected to face a similar amount of time in prison.
Holmes's sentencing was already delayed when it was scheduled to occur nine months after her conviction. That was due to a stipulation agreed to by Holmes and the prosecutors that cited "ongoing proceedings in a related matter," meaning the Balwani trial, as a basis for putting off her sentencing until after Labor Day.