Kelly Gooch –
Wednesday, October 14th, 2020
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A trial for Ms. Holmes, which was pressed back due to COVID-19, is arranged for March 9, and Mr. Balwani is waiting for a different trial at a later time, the Journal reported. Both are dealing with up 20 years in jail if founded guilty.
Attorneys for Ms. Holmes did not right away react to the Journals demand for comment, and a lawyer for Mr. Balwani decreased to comment.
Ms. Holmes and Mr. Balwani are facing wire scams conspiracy and wire fraud charges associated with what prosecutors say were misleading claims about blood testing technology utilized by Theranos. A trial for Ms. Holmes, which was pushed back due to COVID-19, is scheduled for March 9, and Mr. Balwani is awaiting a different trial at a later time, the Journal reported. Both are dealing with up 20 years in prison if founded guilty.
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Theranos shut down in 2018 after the Journal ran multiple short articles about its technology and company practices. Prosecutors claim Ms. Holmes and Mr. Balwani dedicated fraud related to investors and clients through false claims that the businesss technology could use one drop of blood to test for various illness at a lower cost.
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U.S. District Judge Edward J. Davila in California refused to dismiss criminal charges Oct. 13 against Theranos founder Elizabeth Holmes and the businesss former president and COO, Ramesh “Sunny” Balwani, according to The Wall Street Journal.
Attorneys for Ms. Holmes and Mr. Balwani looked for dismissal of criminal charges, partially because they said prosecutors took too long to submit new indictments associated with the supposed scheme and didnt adequately discuss the charges, according to the Journal. However the publication reported that Mr. Davila said the new indictments provided clarity on previous charges.