Sentencing for disgraced Theranos founder Elizabeth Holmes delayed

The sentencing hearing for disgraced Theranos founder Elizabeth Holmes, initially set for September, has been delayed.

Once hailed as a tech superstar, 37-year-old Holmes in January was convicted on federal court on charges of conspiracy to defraud investors and wire fraud and conspiracy. Following a high-profile trial in San Jose, Calif. and weeks of deliberation, jurors concluded she was guilty of bilking investors out of millions by claiming her new health technology, a test nicknamed Edison, could distribute a wide range of tests with just a drop of blood.

Elizabeth Holmes, center, leaves federal court in San Jose, Calif., Jan. 3, 2022. (Nic Coury/)

On Thursday, her ex-boyfriend and former second-in-command, Ramesh “Sunny” Balwani, was also found guilty of fraud by a separate jury.

Her sentencing has been pushed back three weeks and is now slated for mid-October, while Balwani is scheduled to be sentenced shortly after in November.

A Stanford University dropout, at 19, Holmes founded Theranos in 2003. Over the years, she became a media darling, often times sporting dark turtlenecks like Apple founder Steve Jobs. Her charm and determination was enough to dupe wealthy investors including former Secretary of State Henry Kissinger and media tycoon Rupert Murdoch into funding her company. She was, at one point, named the world’s youngest self-made billionaire while her company went on to achieve a $9 billion value.

During her trial late last year, Holmes tried to convince jurors she was manipulated by Balwani and that he was to blame for the entire scheme.

Both disgraced executives face up to 20 years in prison.

With News Wire Services