<story><title>Elizabeth Holmes is sentenced to more than 11 years for fraud</title><url>https://www.nytimes.com/2022/11/18/technology/elizabeth-holmes-sentence-theranos.html</url></story><parent_chain><item><author>moralestapia</author><text>He may go for it but I don&amp;#x27;t think he will succeed.&lt;p&gt;Come on, this is a guy who had:&lt;p&gt;&lt;pre&gt;&lt;code&gt;  * A company with a constant revenue stream in a business that could be pretty much 100% automated.
  * Backing from the largest investors and VC funds worldwide.
  * Valuable connections with people higher up in academia and the prevailing political party in the US (all the way up to the president).
  * All the money in the world and free reign over what to do with it.
  * Unparalleled info and insights about the crypto markets.
  * A massive group of followers that found his antics particularly alluring and who were trusting him with their money more and more everyday.
  * A team of geniuses who were absolutes alphas from quantitative trading, won math olympiads and were constantly on drugs to enhance their cognition 1,000% (ok, this one&amp;#x27;s sarcasm)
&lt;/code&gt;&lt;/pre&gt;
And he &lt;i&gt;still&lt;/i&gt; managed to f*ck it up. I don&amp;#x27;t think he&amp;#x27;s capable of pulling off a Hillblom, tbh.</text></item><item><author>geraldwhen</author><text>I’d wager bankman-fried is going to disappear, or mysteriously die in India.&lt;p&gt;Gerry Cotton had far less money on the table and he supposedly died abroad.</text></item><item><author>ryoshu</author><text>FTX is over $1 billion and the table maxes out at $550 million, so that should be fun. Lawmakers should revisit that.</text></item><item><author>tptacek</author><text>In a previous thread, I had this at &amp;quot;more than 10 years, less than 60&amp;quot; (yeah, that&amp;#x27;s an easy bet to make!). The core driver of the sentence is probably the guidelines 2B1.1 table, which scales sentencing levels by economic losses. She was convicted for something like $140MM in fraudulent losses, which by themselves ask for a 24-level escalation (the table maxes out in the mid-40s).&lt;p&gt;By the numbers, the court was probably quite lenient here. Not to say that&amp;#x27;s an unjust outcome; the &amp;quot;lenient&amp;quot; option for sentencing on serious federal felonies is still quite harsh.&lt;p&gt;&lt;i&gt;Edit&lt;/i&gt;&lt;p&gt;I tracked down the prosecutor&amp;#x27;s sentencing memorandum; they asked for 15 years. So I guess maybe not that lenient.&lt;p&gt;&lt;i&gt;Later edit&lt;/i&gt;&lt;p&gt;The PSR (the court&amp;#x27;s own sentencing memorandum, which the prosecution and defense respond to) had Holmes at level 43. I hereby claim that I called this. :P&lt;p&gt;But the PSR looks at the guidelines level table, which suggests 960 months for level 43, and instead recommends 108 months. So the court imposed a sentence higher than the PSR, lower than the prosecution asked, and all parties asked for much lower than the guideline maximum for the level.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=29790880&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=29790880&lt;/a&gt;&lt;p&gt;&lt;i&gt;Later later edit&lt;/i&gt;&lt;p&gt;I&amp;#x27;m doing the math wrong; the guidelines range at that level is 240 months per charge (usually served consecutively). Still much higher than the ultimate sentence.</text></item></parent_chain><comment><author>narrator</author><text>Ramesh (&amp;quot;sunny&amp;quot;) at Theranos got $40 million bucks when he cashed out after a brief period of working at a dot com startup and he blew most of it on his divorce and Theranos.  On the upside, he got to date 19 year old Holmes.  People are alleging that SBF being romantic partners with Alameda&amp;#x27;s chief trader Elisson was also a bad idea for similar reasons.&lt;p&gt;Btw, does anyone know where the heck Elisson went?  I haven&amp;#x27;t seen any articles specifying her current whereabouts.</text></comment>
<story><title>Elizabeth Holmes is sentenced to more than 11 years for fraud</title><url>https://www.nytimes.com/2022/11/18/technology/elizabeth-holmes-sentence-theranos.html</url></story><parent_chain><item><author>moralestapia</author><text>He may go for it but I don&amp;#x27;t think he will succeed.&lt;p&gt;Come on, this is a guy who had:&lt;p&gt;&lt;pre&gt;&lt;code&gt;  * A company with a constant revenue stream in a business that could be pretty much 100% automated.
  * Backing from the largest investors and VC funds worldwide.
  * Valuable connections with people higher up in academia and the prevailing political party in the US (all the way up to the president).
  * All the money in the world and free reign over what to do with it.
  * Unparalleled info and insights about the crypto markets.
  * A massive group of followers that found his antics particularly alluring and who were trusting him with their money more and more everyday.
  * A team of geniuses who were absolutes alphas from quantitative trading, won math olympiads and were constantly on drugs to enhance their cognition 1,000% (ok, this one&amp;#x27;s sarcasm)
&lt;/code&gt;&lt;/pre&gt;
And he &lt;i&gt;still&lt;/i&gt; managed to f*ck it up. I don&amp;#x27;t think he&amp;#x27;s capable of pulling off a Hillblom, tbh.</text></item><item><author>geraldwhen</author><text>I’d wager bankman-fried is going to disappear, or mysteriously die in India.&lt;p&gt;Gerry Cotton had far less money on the table and he supposedly died abroad.</text></item><item><author>ryoshu</author><text>FTX is over $1 billion and the table maxes out at $550 million, so that should be fun. Lawmakers should revisit that.</text></item><item><author>tptacek</author><text>In a previous thread, I had this at &amp;quot;more than 10 years, less than 60&amp;quot; (yeah, that&amp;#x27;s an easy bet to make!). The core driver of the sentence is probably the guidelines 2B1.1 table, which scales sentencing levels by economic losses. She was convicted for something like $140MM in fraudulent losses, which by themselves ask for a 24-level escalation (the table maxes out in the mid-40s).&lt;p&gt;By the numbers, the court was probably quite lenient here. Not to say that&amp;#x27;s an unjust outcome; the &amp;quot;lenient&amp;quot; option for sentencing on serious federal felonies is still quite harsh.&lt;p&gt;&lt;i&gt;Edit&lt;/i&gt;&lt;p&gt;I tracked down the prosecutor&amp;#x27;s sentencing memorandum; they asked for 15 years. So I guess maybe not that lenient.&lt;p&gt;&lt;i&gt;Later edit&lt;/i&gt;&lt;p&gt;The PSR (the court&amp;#x27;s own sentencing memorandum, which the prosecution and defense respond to) had Holmes at level 43. I hereby claim that I called this. :P&lt;p&gt;But the PSR looks at the guidelines level table, which suggests 960 months for level 43, and instead recommends 108 months. So the court imposed a sentence higher than the PSR, lower than the prosecution asked, and all parties asked for much lower than the guideline maximum for the level.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=29790880&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=29790880&lt;/a&gt;&lt;p&gt;&lt;i&gt;Later later edit&lt;/i&gt;&lt;p&gt;I&amp;#x27;m doing the math wrong; the guidelines range at that level is 240 months per charge (usually served consecutively). Still much higher than the ultimate sentence.</text></item></parent_chain><comment><author>jongjong</author><text>They are either industry saboteurs planted by big banking interests or they are complete imbeciles.&lt;p&gt;Same can be said about people who gave them money. It&amp;#x27;s just retarded. The whole business went completely against the core purpose of cryptocurrency. Anyone who invested in him or had their money sitting on his exchange (or any bankrupt exchange) deserved to lose it. It&amp;#x27;s scary to think what damage large amounts of capital could do in the hands of such idiots; society is better off now.</text></comment>