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Elizabeth Holmes is going to prison – with a $500M bill

theregister.com

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Re: Elizabeth Holmes is going to prison – with a $500M bill

#41

Post by atoav »

xrayarx wrote: post #32

It is not a real prison. She will probably go to Bryan Minimum Security [1][2]. No fences. Dormitories. Visitations. Gym, etc. The fine is large, but symbolic. From the article, chance of full recovery is very low. No mention, if this would be converted to house arrest at some point. [1] https://en.wikipedia.org/wiki/Federal_Prison_Camp,_Bryan [2] https://en.wikipedia.org/wiki/Elizabeth_Holmes

Where I live the goal of prison is rehabilitation, not the ever greater fulfilment of a christianity-induced punishment fetish (and there are studies that support that the former is more effective at returning you functioning, tax-paying members of society once the sentence is over).

So while I agree that in the US white colar criminals tend to suspiciously often get the lighter punishment and that this fact is a glaring injustice, I think the US prison system as a whole is so utterly misconstructed, that this cricicism is a drop in a vast ocean of injustices.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#42

Post by fastball »

azernik wrote: post #34
rkagerer wrote: post #25

Earlier quoted context omitted.

In that case will this restitution likely never be paid?

Some might, if they go after her new husband's rather substantial property.

Seems unlikely they'll be able to do that, given they married after all the fraud took place, and I doubt Billy Evans would be stupid enough to put her name on any joint accounts or similar.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#43

Post by simonjgreen »

telltruth wrote: post #15
petesergeant wrote: post #2

Does anyone have a clear and simple answer on why she got two years less than Sunny Balwani?

Balwani's story is quite amazing. The dude won startup lottery and made enough money that he wouldn't have to worry rest of the life. He had a mansions, sports cars and lived his life happily. One day this young women walks in his life and wants help with her startup. The dude throws away everything to make her startup success, burns midnight oil and torches ethics. He is much older and thinks he is in love. Only lat…

I think the important life lesson is: do NOT deliberately grossly defraud people

Re: Elizabeth Holmes is going to prison – with a $500M bill

#44

Post by klyrs »

todd3834 wrote: post #30

10 years used to feel like a really long time to me. Now that I have two young kids the idea of missing out on 10 years of their life growing up is in the impossible to handle part of my brain. I feel bad for everyone effected and yes even her.

I have the capacity to feel really bad for her kids. I couldn't care less about the rich investors money she squandered, but as a mother I'm spitting furious that she would bring two children into this world, knowing that she was guilty for the fraud that she stood accused of. She's begged the courts for leniency on behalf of her children, and I really want to believe that she didn't have children for that sole purpose, but I don't.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#45

Post by mvdtnz »

todd3834 wrote: post #30

10 years used to feel like a really long time to me. Now that I have two young kids the idea of missing out on 10 years of their life growing up is in the impossible to handle part of my brain. I feel bad for everyone effected and yes even her.

Do not feel bad for her. Do not even give her a single thought.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#46

Post by [deleted] »

chopete3 wrote: post #35
taneq wrote: post #20

Earlier quoted context omitted.

Probably to telegraph the fact that it’s not using actual physical paper documents?

There is an appropriate name like Investment Fraud. Just wondering why don't use it and lump everything into under wire fraud which makes it seem a petty crime.

[deleted]

Re: Elizabeth Holmes is going to prison – with a $500M bill

#47

Post by mnky9800n »

samrus wrote: post #33
todd3834 wrote: post #30

10 years used to feel like a really long time to me. Now that I have two young kids the idea of missing out on 10 years of their life growing up is in the impossible to handle part of my brain. I feel bad for everyone effected and yes even her.

Well then they she shouldn't have decided to get pregnant as sson as the jury decided to convene. Obviously it sucks for the kids. But they're rich. They'll have good foster care. And she doesn't care that she can't see them, she knee that was a risk when she had them, she took that gamble to try to stay out of prison. This is psychopath we are talking about. And letting her off the hook because she has kids is going…

She likely had children because she thought it would make her more sympathetic. Unlikely given how she acts and treats all around her that the children are more than pawns in her game.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#48

Post by petesergeant »

batmaniam wrote: post #40
dumbfoundded wrote: post #3

Earlier quoted context omitted.

Best analysis I've seen: "Balwani might have been perceived as someone “a little bit older and wiser” who should’ve known better." https://qz.com/theranos-sunny-balwani-jail-time-elizabeth-ho...

If the court system can try kids as adults for their heinous crimes, then the "should've known better" reasoning doesn't stand up. Plus she went to fancy schools, and was highly educated. She already "knew" better than most people living in the US. They both should have gotten longer jail sentences, their convictions should have been about the people she harmed with her machines. Instead it was all about how she and…

> Can anyone find an article that states actual people being victims?

Here's one: https://www.cnbc.com/2021/09/21/theranos-test-gave-false-mis...

My understanding is that there were a few at the trial

Re: Elizabeth Holmes is going to prison – with a $500M bill

#49

Post by highwaylights »

azernik wrote: post #34
rkagerer wrote: post #25

Earlier quoted context omitted.

In that case will this restitution likely never be paid?

Some might, if they go after her new husband's rather substantial property.

Can they do that?

Genuinely unsure how US law works in this scenario. If the assets are in her husbands name, and are clearly not proceeds of the Theranos saga, can they be seized? (Especially given that they came into her life after all of this).

My assumption would have been that she’d essentially remain penniless in her own name until after any limitations of claims had expired (20 years I believe from elsewhere in the thread) and the debt had been written off.

Also does she spend the 11 years in jail or is it a half in/half out thing? I imagine there’s a lot of ways this still gets argued down to a much shorter time period but admittedly IANAL.

Re: Elizabeth Holmes is going to prison – with a $500M bill

#50

Post by mathieuh »

todd3834 wrote: post #30

10 years used to feel like a really long time to me. Now that I have two young kids the idea of missing out on 10 years of their life growing up is in the impossible to handle part of my brain. I feel bad for everyone effected and yes even her.

I haven't followed this closely but frankly I feel similarly. I think only people who are violent and dangerous to other people should be locked up, and even then only until they are no longer dangerous.

If things can be organised so she is no longer capable of defrauding people (banned from holding certain positions in companies etc.) I don't see why she should be locked up.

I'm sure I would feel differently if I had been defrauded by her, but isn't that exactly why the burden of justice fulls on people other than the aggrieved?

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