Elizabeth Holmes fights against demands she pay victims $250 a month

Elizabeth Holmes fights against demands she pay victims $250 a month

Elizabeth Holmes, now serving an 11-year sentence for crimes related to overseeing the failed blood-testing company Theranos, is arguing she should not have to pay a suggested $250 per month to victims of the failed company. 

Federal prosecutors argued that Holmes of her wages or $250 per month, whichever is greater, as restitution after she is released from prison.

Holmes, 39, has entered a minimum-security women’s located in Bryan, Texas, that holds about 650 inmates.

Holmes was the CEO of Theranos, a startup that claimed its groundbreaking technology could detect diseases with a finger prick and just a few drops of blood. 

Those claims led to nearly $1 billion in funding. However, Holmes defrauded investors out of millions of dollars during her years running the company, promoting a blood-testing device that  never actually worked.

In a court filing, lawyers for Holmes argued that there “is no basis in the record for the payment structure in the government’s request.” 

Her attorneys appeared not to object to a request that she pay $25 each quarter that she is in prison, as part of her restitution payments. It’s possible that Holmes could hold a job at the women’s , making wages that would likely fall under $2 per hour. 

Holmes has reportedly been ordered to pay around $452 million in restitution to those she is accused of defrauding in the process of trying to build her failed company. 

Her former lover and business partner  was given a 13-year prison sentence this year. 

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