Prosecutors demand payment to the Victims of Blood Testing
According to the news reported by the AP News, last May 30 ex-Theranos CEO Elizabeth Holmes 39-year-old together with her partner Ramesh “Sunny” Balwani who just started their 11-year sentence were escorted by prison officials into federal women’s camp convicted of fraud for deceiving investors amounting to hundreds of millions of dollars under their administration in Theranos. Theranos is a health technology company privately-owned corporation.
Federal prosecutors want Holmes to pay $250 monthly to her failed blood testing victims. Similar to Balwani’s judgment to pay a minimum of $1,000 monthly according to the motion filed by the U.S.
Amendment on the Filed Case
Holmes’s attorneys filed that the according to the Amendments of Ms. Holmes, it is already included in the restitution schedule that will begin once she will be in prison. It does not mean that if there were no changes made to the schedule after she is released correlates to clerical errors.
Balwani’s team defense that the amended judgment “says nothing” about what they really want for Holmes’s payment scheme. Holmes is a stakeholder of Theranos, her shares will total up to $4.5 billion while for Balwani is around $500 million. They have already predicted that they will be nearly broke after paying their monthly being asked by the prosecutors until they proved their innocence.
READ ALSO: 5 Common Types of Ecommerce Fraud and How to Fight Them