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The number does indeed get larger with bigger losses - but most of the charges also have statutory maximums (e.g. 20yrs for wire fraud) and they'll almost certa
by mikeyouse 4y ago
The number does indeed get larger with bigger losses - but most of the charges also have statutory maximums (e.g. 20yrs for wire fraud) and they'll almost certainly be served concurrently. With this level of fraud a sentence approaching 10 years might be in play, but we'll have to see what the prosecutors say.
- agotterer 4y agoElizabeth Holmes was sentenced to 11 years and she didn’t steal any money for personal gain. Madoff was sentenced to 150 years. Based on what we know so far about Caroline’s misuse (abuse) of funds and possible mass market manipulation all of which has resulted in billions of dollars in investor losses. 10 years in this case seems light, no?
- random314 4y agoElizabeth did use the money for personal gain, to sponsor an extremely lavish lifestyle and billing luxury home rental expenses,chartered flights, security details and private investigators to the Theranos account. Sunny Balwani, otoh, didn't benefit, wasn't the CEO, didn't make most of the false statements and got a heavier sentence.
- jcampbell1 4y agoShe was found not guilty of defrauding patients. He was guilty on all accounts.
- random314 4y agoIt's difficult for me to see how Balwani was defrauding patients but Holmes wasn't.
- TedDoesntTalk 4y agoDifferent juries and lawyers?
- csomar 4y agoAh, justice in America.
- vkou 4y agoHis work was in operations, hers was in investor schmoozing.
- random314 4y agoShe was doing both, including selling to Walgreens where the patient fraud happened.
- ceejayoz 4y agoHolmes didn’t plead guilty and cooperate.
- pyuser583 4y agoNeither Madoff nor Holmes took deals.