Elizabeth Holmes, the one-time wunderkind of blood testing technology at bankrupt Theranos, and who was featured on the cover of nearly every gullible financial publication in existence at the time, was convicted in Jan. 2022 of wire fraud charges related to the nearly $700 million the government alleged she stole from investors.
She is still walking free 10 months later.
Proving once again that the rich are treated differently than you or I, even if those rich people got that way from stealing other people’s money. Holmes is using high-priced lawyers and endless, meaningless appeals to stave off the day she goes to jail, according to the Wall Street Journal:
Theranos Inc. founder Elizabeth Holmes is due back in court this month to make the case that she deserves a new trial based on her allegations that the government manipulated testimony from a key witness who testified against her.
The hearing was granted Monday by the judge who presided over Ms. Holmes’s monthslong criminal-fraud trial. The ruling represents a victory for Ms. Holmes in her quest to secure a new trial nine months after a jury convicted her on four counts of wire fraud and conspiracy. Her attorneys have argued that new evidence pertaining to the witness, former Theranos lab director Adam Rosendorff, shows the government presented misleading testimony that may have influenced the jury’s decision.
U.S. District Judge Edward Davila has set the hearing for Oct. 17, when her sentencing had originally been scheduled. Sentencing, if the judge doesn’t grant a new trial, would be delayed at least into November.
Judge Davila expressed skepticism about this latest legal gambit, wondering aloud if it was just a “fishing expedition.”
It’s all really quite remarkable when see through the lens of Donald Trump, Holmes and all the other rich people who play our two-tiered legal system for their own gain.
My question is: if she stole $700 million and started from nothing, how does she have the money for expensive lawyers if the government has clawed back all that they can of her ill-gotten gains?
I mean, if I was caught dealing weed, the government would probably take my house, my car, my bank accounts and anything else it even suspects I might have gained from dealing weed.
Why does the same thing not happen to people accused of stealing hundreds of millions? Why are these people not bankrupted in the way low-level drug dealers are?