Theranos Patient Fraud Charges May Move a Jury More Than Money
- ‘Endangered health and lives’ add emotional part to indictment
- Founder Holmes, Balwani face decades in prison, experts say
Elizabeth Holmes
Photographer: David Paul Morris/Bloomberg
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The audacity of the con prosecutors say Elizabeth Holmes and her ex-boyfriend perpetrated -- not just on investors, but on doctors and patients -- has the potential to result in significant prison time, legal experts said.
Holmes, until last week the chief executive officer of Theranos Inc., and former company president Ramesh “Sunny” Balwani were criminally charged last week. The indictment for investment fraud wasn’t a surprise, lawyers said, given the seriousness of related civil charges brought against the pair in March by the U.S. Securities and Exchange Commission.