Theranos founder Holmes sentenced to 11 years
Holmes, who had given birth to a son right before her trial, was asking for a more lenient sentence of 18 months of house arrest coupled with community service.
U.S. District Judge Edward Davila sentenced Holmes on three counts of investor fraud and one count of conspiracy in San Jose.
Breaking: Elizabeth Holmes, the founder of Theranos & a liberal darling for being a woman leader in tech, has been sentenced to 11 years in prison for felony fraud crimes.
— Andy Ngô 🏳️🌈 (@MrAndyNgo) November 18, 2022
A jury convicted Holmes, 38, in January following a trial that spanned three months. Holmes, who had given birth to a son right before her trial, was asking for a more lenient sentence of 18 months of house arrest coupled with community service.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison for fraud https://t.co/HKVSxK53nC pic.twitter.com/m0NBY1j2AM
— New York Post (@nypost) November 18, 2022
Assistant U.S. Attorney Jeff Schenk has asked for 15 years behind bars.
Theranos was previously valued at 9 billion dollars and had so-called "wellness centres" in Walgreens across the southwestern United States. Holmes, who modelled herself after Apple founder Steve Jobs, made promises to investors that her company was capable of completing a vast array of medical tests through a proprietary technology which relied on just a single pinprick of blood.
Elizabeth Holmes reportedly told a Walgreens consultant in 2010 that “They don’t put pretty people like me in jail,” after he warned Holmes that she could be responsible for killing someone if Theranos produced bad test results, a government filing says https://t.co/7o9De16iV7
— The Wall Street Journal (@WSJ) November 18, 2022
The company collapsed and Holmes was charged after it was revealed in large part through the investigative reporting of John Carreyrou that the company's technology was completely unworkable.
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