By Matthew Russell Lee, Patreon Maxwell Book
BBC - Guardian UK - Honduras - ESPN
FEDERAL COURTHOUSE, Dec 7 – The Elizabeth Holmes / Theranos trial had much to recommend it - including on November 19, 2021 the defendant taking the stand. There was Mad Dog Mattis spinning, and many podcasts covering it weekly.
On December 7, 2022 Sunny Balwani was sentenced to 155 months, to start on March 15, 2023. What does this type of sentencing mean for, among others, Trevor Milton in SDNY? Fake it 'til you make it - watch this site.
Back on January 3, 2022 on Holmes the jury returned with a note that after over 40 hours of deliberation, they "are unable to come to a unanimous verdict on three of the counts." The judge told them to continue, and delivered the Allen charge. Later, the jury returned and declared her guilty of conspiring to defraud investors in the blood testing startup: convicted on four of 11 counts, acquitted on four counts and the jury still could not reach a decision on three counts.
Specifically: Count 1. GUILTY of the charge of Conspiracy to Commit Wire Fraud against Theranos investors in violation of 18 U.S.C. § 1349, as charged in Count One of the indictment.
Count 6: GUILTY of the charge of Wire Fraud against Theranos investors, in violation of 18 U.S.C. § 1343, in connection with a wire transfer of $38,336,632 on or about February 6, 2014, as charged in Count Six of the indictment. ...
Count 7: GUILTY of the charge of Wire Fraud against Theranos investors, in violation of 18 U.S.C. § 1343, in connection with a wire transfer of $99,999,984 on or about October 31, 2014, as charged in Count Seven of the indictment....
Count 8: GUILTY of the charge of Wire Fraud against Theranos investors, in violation of 18 U.S.C. § 1343, in connection with a wire transfer of $5,999,997 on or about October 31, 2014, as charged in Count Eight of the indictment.
Beyond Ramesh Sunny Balwani, what about the big shots who, while portrayed as Holmes' dupes, in fact duped others?
For now: CLERK'S NOTICE SETTING HEARING. Please take NOTICE that a Status Conference as to Ramesh "Sunny" Balwani is set for 1/12/2022 09:00 AM in San Jose, Courtroom 4, 5th Floor before Judge Edward J. Davila.. Watch this site.
It is reminiscent of trials in the U.S. District Court for the Southern District of New York, such as the US v. Neil Cole trial, recently concluded in a mistrial, where jurors struggled to stay awake as email after spread sheet were posted on their screens. Lev Parnas did not testify, and was convicted, unlike Kyle Rittenhouse who did testify and cry.
Here's from what Holmes said on November 19: "I started with talking to my parents and they let me take the money they saved for me to go to college. Then I went to go borrow money... Don Lucas was one of the early VCs in Silicon Valley. I knew him as someone who focused on building great companies in the long term. I was introduced to him by someone who had gone to college with my dad. He had a lot of questions. He began a very comprehensive diligence process. He hired a law firm to review our patents. He asked us to get an audit of our financials. He wanted copies of our contracts... I had the opportunity to hire some of the people I was working for and with at Stanford... We worked for years with teams of scientists and engineers to miniaturize all of the technologies in the laboratory." Can't wait for the cross.
While SDNY heats up for "Maximum Maxwell" - the trial of Ghislaine Maxwell on sex trafficking charges - lawyer David Boies got into the mix, representing victims on conference calls about if not with Prince Andrew. Previously, he'd been name checked but not cross examined in the case against Michael Avenatti, representing Nike.
But promoting Theranos' dubious technology and stock, and threatening those who investigated it, is a differently look. On November 3 in the Elizabeth Holmes trial, a previously Cravath Swaine & Moore LLP partner has testified that he invested $6 million into the company after Boies assured him the technology was "absolutely sound and performing well." What, with third party Siemens machines secretly used? West meets East.
On September 30 journalist John Carreyrou of the WSJ filed a motion trying to get off Holmes' witness list, or for an exemption so he can nevertheless enter the courtroom. Alongside those legal issues, there's this from the motion returnable October 18:
"The Supreme Court has long recognized that the press and public enjoy a First Amendment “right of access to criminal trials.” Globe Newspaper Co., 457 U.S. at 604-05 (emphasis removed). Steeped in Anglo-American jurisprudence is the principle that “throughout its evolution, the trial has been open to all who cared to observe,” as criminal trials are “presumptively open.” Richmond Newspapers, Inc. v. Virginia, 448 U.S. 555, 564, 575 (1980). Indeed, a trial courtroom is “a public place where the people generally – and representatives of the media – have a right to be present.” Id. at 578. 8 Carreyrou does not suggest that the Court has entirely shut down or closed the trial in this action. Far from it; the Court has made efforts to ensure general access. But, unless he is exempted, Carreyrou will be the only member of the news media especially barred from attending the trial and reporting firsthand on its proceedings."
For Inner City Press, the only media banned from the United Nations and for 1319 days now, it also stands in contrast to the recent R.Kelly trial in EDNY in Brooklyn, where ALL media and public were banned from the courtroom, which (as Judge Davila has for some reason done in US v. Holmes) no listen-only call in line.
The sudden lack of call-in lines is being repeated in US v. Maxwell; Inner City Press questioned and opposed it in an October 29 filing that has yet, as of November 3, to be docketed.
New coverage of the Holmes trial, for example by The Dropout, belatedly details Juror 5 being bounced for playing Sudoku during testimony.
The trial coverage can also again be compared, at SDNY, with the lower profile fraud trial of Neil Cole of Iconix for inflating earnings and selling $28 million of stock (Inner City Press song here), and Lev Parnas (song here, and sidearm threat podcast, and Substack on racist video-gate). It deserves it own song, like this one (October 31) on Maxwell to the Max:
Carreyrou is back, on Theranos' use of Siemens machines. We'll have more on these issues.
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