Elizabeth Holmes was convicted of wire fraud earlier this year, but now she’s trying to overturn that.
Her Attorneys submitted a 24-page filing saying there is “insufficient evidence” for “any rational juror” to proceed with the conviction.
Her attorneys claim that only one of the hundreds of texts shown to jurors was linked to investors.
Holmes is set to be sentenced on September 26th.
She was acquitted on four counts of wire fraud. Jurors Couldn’t reach a verdict on 3 other counts.
Each charge carries a maximum sentence of 20 years in prison and a $250,000 fine.
People have many dividing opinions on Elizabeth holmes. Some people really hate her and want her to see the maximum sentence.
Others have taken up for her.
I am somewhere in the middle on this. Yes, I do believe she needs to be punished. I believe she made some fatal errors and put people’s lives in danger. To me, that is never acceptable. But I also don’t think she should spend the rest of her life in prison.
But there’s a larger issue, the culture of silicon valley. When you are a founder raising money, you are under immense pressure from investors to grow by any means necessary. There’s no doubt this played a role in the whole Theranos situation.
You would also be surprised by how little venture capitalists do due diligence. I raised money for my last e-commerce business, and they didn’t even do a background check on me. No really.
So it’s sad to me how we put the entire blame solely on one individual when at least hundreds of other people dropped the ball in some way in order for her to get so far. The whole system has some issues. The startup playbook works, but not for every industry. Maybe it’s time we start talking about that.