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A federal judge will decide whether ex-Theranos CEO Elizabeth Holmes will serve a maximum 20-year prison sentence after being convicted of fraud and conspiracy.
Holmes, 38, was found guilty Jan. 3. of misleading investors and endangering patients with deceptive blood-testing technology.
A federal jury convicted Holmes of conspiracy count and fraud.
The jury acquitted Holmes of patient-related conspiracy wire fraud and three additional wire fraud counts. The jury could not reach a unanimous verdict regarding three investor fraud-related counts.
Holmes and Ramesh “Sunny” Balwani, 57, founded Theranos, a private health care and life sciences company based in Palo Alto, Calif.
Holmes and Balwani were accused of overstating the technology’s capabilty.
Prosecutors are seeking a 15-year prison sentence. Her lawyers are arguing for 18 months, preferably under house arrest.
U.S. District Judge Edward Davila can sentence Holmes to a maximum sentence of 20 years.
Her lawyers argued she was a “well-meaning” entrepreneur and is a devoted mother expecting another child.
Prosecutors have also asked Holmes to pay $804 million in restitution. Investors in Theranos include Rupert Murdoch, The Walton family, and software magnate Larry Edison.
According to AP, the defense submitted a 12-page letter, which included pictures of Holmes doting on their 1-year-old son.
Balwani was convicted of 12 counts of fraud and conspiracy. He will be sentenced on Dec. 7.
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