First, I wouldn't rely on the guesses of some random guy on twitter. He is not exactly a legal expert. He may be right but I'm also reading more expert speculation that it will be longer than that. We'll see. But I don't think she'll spend her life in prison, so what I think is your broader question is correct in that it's not the same kind of sentence as Madoff's. Second, Madoff was convicted of a long list of charges for billions or tens of billions of dollars (however you account for it, the number is huge). Size of the fraud matters. Holmes' case was relatively much smaller, though still sizable. And, importantly, Madoff admitted that it was straight theft (ponzi scheme) from the beginning. Holmes had a real company and a real technology but she exaggerated and lied about it to the level of fraud. I'm no Holmes defender, but there's a difference there imo. Third, what would have happened if she had admitted it? Think it would have been largely the same for the same reasons. It was a huge case with a ton of publicity already. And she had already done all the cover-up and all the hounding of the whistleblowers to that point. In other words, the sharks were already circling and her admitting it wouldn't have convinced the DOJ not to bring charges (in addition to SEC charges). What she lost was probably the ability to plea bargain really early and get off more lightly.
rojo wrote:
The guy who broke the whole thing open is retweeting a tweet predicting only 4-5 years of prison. Can someone explain that to me? Madoff got 150+. Is it because there was some hope she'd eventually invent something?
Here's an interesting thought. What would hae happened if when the story first broke in the WSJ, if she had basically admitted it? Would she be in prison. She'd probably have been sued and suffered financial penalties but do you think the govt would have gone after her if she hadn't doubled down on it?
(I've merged 3 threads into 1. One on the trial, one on her odds of jail time and one on me threatening to go on a hunger strike if she wasn't convicted and sent to jail).
Hallelulah. It looks like there will be no need for a hunger strike.
(1) This is a running website. What does this have to do with running?
(2) You need to go on that hunger strike. You're fat.
I read the Bad Blood book after someone on here recommended it. It's one of the best books I've read in a long time and certainly stands out among non-fiction writings.
Rojo: if you haven't read it, drop everything and start. If you are interested in this case it is ESSENTIAL reading.
From what I recall, her product was never FDA approved. There's nothing illegal about telling someone who have a great product. Have you not seen all the male enlargement and weight loss products that are just BS?
If investors want to believe what someone says without performing their own due diligence, then that's on them.
Watching this Hulu show “The Dropout” about this.
Yes, she’s definitely shady and doing illegal things.
But these investors bought into it and handed over money without proper due diligence. It’s like buying a watch or dvd from a guy in the street in a trench coat and finding out you’ve been ripped off.
So funny how the American media lauded her for being a strong Woman and held her up as an example of what Women can acheive and then when she's arrested she blames eveything on her boyfreind saying she was week and vulnerable and manipulated by him..lol
I read the Bad Blood book after someone on here recommended it. It's one of the best books I've read in a long time and certainly stands out among non-fiction writings.
Rojo: if you haven't read it, drop everything and start.
rojosez: me aint not nebber red no stinkin book afour now, and me aint not bouts two start dewin no stinkin reedin ebber. reedin is fore them their eggheds hoo think that them be sow smart. if them bee sow smart, then howcomes it bee i hoo is retired since befour me eber had a job witch was nebver.
I don't know what this means, but I feel congratulations are in order.
Maximum possible is 20 years. Government is asking for 15 years plus $800 million in restitution. Her lawyers are asking for 18 months home confinement due to her having a new baby and another one on the way.
She's also engaged to a filthy rich 27-yo hotel heir so money won't be a problem.
Her sentencing hearing is going on right now. Both sides are arguing why she should/should not get a long prison sentence. Should have a sentence sometime soon.
Monetary restitution will be determined at a later hearing. Judge mentioned that he felt investors were defrauded of about $121 million. This is just his guideline; she could pay more or less.
Judge mentioned that Holmes was the head of the company but not necessarily the head of the defrauding scam.
she's rich, pretty, white, well connected, and a new mother.
Sorry to disappoint but being rich, female, pretty, a mother, and especially white, has NOTHING to do with prison sentences. She got slammed and the money she owes hasn't even been determined yet. Probably a few hundred million.
she's rich, pretty, white, well connected, and a new mother.
Sorry to disappoint but being rich, female, pretty, a mother, and especially white, has NOTHING to do with prison sentences. She got slammed and the money she owes hasn't even been determined yet. Probably a few hundred million.
I am glad I was wrong. I am very cynical when it comes to how justice is doled out, and this case helped show that even the most privileged and protected can still be held accountable.