Rishi Shah is scheduled to be sentenced June 25, after a jury found him guilty on 19 of 22 counts in April 2023.
Former Outcome Health CEO Rishi Shah arrives for the verdict in the criminal fraud trial at the Dirksen Courthouse on April 11, 2023.
Over the years, Outcome was able to raise nearly $1 billion from lenders and high-profile investors, including a fund co-founded by Gov. J.B. Pritzker and units of Goldman Sachs and Google. At one point, in 2017, Outcome employed more than 500 workers and had a reported valuation of more than $5 billion.
Shah should spend 15 years in prison because of the “pervasiveness, scope, impact and duration of the scheme, and the cunning with which it was executed” as well as to “deter other executives from engaging in similarly extensive, harmful fraud schemes on their customers and financiers,” prosecutors wrote.
Former Outcome Health President Shradha Agarwal arrives for her criminal fraud trial on Jan. 24, 2023. Attorneys for Purdy say in court documents that he should be sentenced to no more than two years in prison, partly because he was in his 20s when he was at Outcome, and: “was caught up in something much bigger than himself. Although he plainly did not have the experience or expertise to properly handle all the roles thrust upon him, Mr. Purdy—quite regretfully—was unwilling to admit that he was in over his head. It was this inexperience, eagerness, and a fear of failure that led to his undoing.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
JPMorgan CEO Jamie Dimon says U.S. could see a 'hard landing,' stagflation will be 'worst outcome'Dimon said the worst outcome for the U.S. economy will be a 'stagflation' scenario, where inflation continues to rise, but growth slows amid high unemployment.
Baca lebih lajut »
Io.net CEO Ahmad Shadid steps down from CEO role days before token launchThe decentralized infrastructure provider has faced questions from critics in recent months regarding the veracity of its reported metrics.
Baca lebih lajut »
University Health names Edward Banos its CEO ahead of new hospital openingsUniversity Health on Tuesday named its new President and CEO, Edward Banos, who will assume the position on July 1.
Baca lebih lajut »
University Health names new president and CEO after five month recruiting processFollow us here to get the latest top headlines with KENS 5 anchor Sarah Forgany every weekday!
Baca lebih lajut »
Oscar Health CEO Mark Bertolini is ready to take on the employer marketOscar Health CEO Mark Bertolini sees the small- and mid-size employer market as a key growth opportunity.
Baca lebih lajut »
Oscar Health CEO Mark Bertolini is ready to take on the employer marketOscar Health CEO Mark Bertolini sees the small- and mid-size employer market as a key growth opportunity.
Baca lebih lajut »