Elizabeth Holmes objects to restitution proposal that includes $250 monthly payments after prison release

BRYAN, Texas – The defense for disgraced biotech mogul Elizabeth Holmes, who once had an estimated net worth of $4.5 billion, is objecting to proposed changes in her case that include $250 monthly payments to victims.

In a filing in federal court in California, the team argued that implementing prosecutors’ proposed restitution schedule would amount to a significant modification to the outcome of Holmes’ fraud trial.

In November, Holmes, 39, was sentenced to more than 11 years in federal prison for misleading investors about the speed, convenience and capability of high-tech blood tests developed by the Silicon Valley company she ran, Theranos.

The San Jose federal court found that she and Theranos Chief Operating Officer Ramesh Balwani, convicted in a separate trial of 12 counts of fraud and conspiracy, are liable for covering more than $452 million in investor losses.

Read the full report from NBC News.

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