Theranos founder objects to $250 monthly restitution sought by US due to limited financial resources

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The Associated Press

WASHINGTON (AP) – Federal prosecutors want Elizabeth Holmes to pay $250 each month to victims of her failed blood testing startup after she leaves prison, but her attorneys are pushing back citing “limited financial resources” available to the disgraced founder of Theranos.

U.S. District Judge Edward Davila ordered Holmes and her former partner, Ramesh “Sunny” Balwani, to pay $452 million in restitution to victims last month.

Federal prosecutors argue that Holmes should be required to pay at least $250 each month — or 10% of her earnings, whichever is greater — in criminal monetary penalties upon supervised released. But Holmes’ lawyers pushed back on the proposed requirement.

Read the full story on AP News right here.

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6/14/2023 1:14:43 PM (GMT -5:00)

Categories: Regional and US News