Jan. 12 (UPI) -- Elizabeth Holmes, a former health technology company executive convicted of federal fraud charges last week, has been granted bond and will be sentenced in about eight months, under a court proposal filed late Tuesday.
Under the proposal, the former Theranos CEO is granted a $500,000 bond and is scheduled for sentencing on Sept. 12. Also as part of the deal, Holmes will have three criminal counts against her dismissed. They are the three counts that the jury could not agree on during her trial.
"The parties agree that a sentencing hearing following Labor Day 2022 would be appropriate in light of ongoing proceedings in a related matter," the court documents said, according to CNBC.
Early this month, Holmes was found guilty on four counts of federal fraud and conspiracy to commit wire fraud in connection to fundraising efforts at Theranos in 2018. Jurors acquitted her on four counts of defrauding patients and deadlocked on three charges of defrauding investors Alan Eisenman, Chris Lucas and Bryan Tolbert.
Holmes faces as many as 80 years in prison when she's sentenced in September.
Holmes' verdict came after a four-month trial in which prosecutors presented damning evidence against the 37-year-old businesswoman. Jurors deliberated the verdict for about a week.
Prosecutors said Holmes made false and misleading statements to investors about developing a Theranos device that could run a full range of blood tests with only a finger-prick sample. They also said that the now-defunct company raised close to $1 billion from investors over its lifetime.
