Elizabeth Holmes sentenced to more than 11 years in prison for Theranos fraud

Theranos founder Elizabeth Holmes arrives with her – family and partner Billy Evans to be sentenced on her convictions for defrauding investors in the blood testing startup at the federal courthouse in San Jose, California, US, on Nov 18, 2022. (REUTERS)

SAN JOSE, Calif. – A federal judge on Friday (Nov 18) sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at $9 billion (S$12 billion).

In San Jose, California, US District Judge Edward Davila sentenced Holmes, 38, on three counts of investor fraud and one count of conspiracy after a jury convicted her last January following a trial spanning three months.

The prosecution had recommended a sentence of 15 years in prison, while the defence had urged the judge to impose no prison time.

Holmes, dressed in a dark blouse and black skirt, hugged her parents and her partner after the sentence was handed down.

During the sentencing hearing, Holmes cried as she said she was “devastated” by her failures and would have done many things differently if she had the chance.

“I have felt deep shame for what people went through because I failed them,” Holmes said.

Before handing down the sentence, Davila called the case “troubling on so many levels,” questioning what motivated Holmes, a “brilliant” entrepreneur, to misrepresent her company to investors.

Read more of this report

(Visited 39 times, 1 visits today)
About Cholo Brooks 13046 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.

Be the first to comment

Leave a Reply

Your email address will not be published.