November 29, 2022

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Theranos Founder Elizabeth Holmes Receives 11-Year Prison Sentence

Theranos founder Elizabeth Holmes received an 11-calendar year sentence in prison on Friday, Nov. 18, following her conviction for defrauding buyers.

What Happened: Choose Edward Davila sentenced the disgraced entrepreneur to 135 months, moreover a great of $400, or $100 for each and every rely of fraud.

Restitution for the situation is anticipated at a afterwards date, which has nevertheless to be set.

See Also: Wall Street Crime And Punishment: The Blood On Elizabeth Holmes’ Fingers

“I cherished Theranos. It was my life’s function,” Holmes advised the courtroom, referring to the unsuccessful blood-screening startup she released in 2003. “I am devastated by my failings.”

Holmes, who is pregnant, also tackled her previous Theranos employees, as effectively as its financial backers and patients.

“I’m so, so sorry,” she said. “I regret my failings with each and every cell in my human body.”

What is Following: Theranos COO Ramesh “Sunny” Balwani was found responsible on 12 costs in a different demo. He faces the exact same volume of prison time as Holmes.

In the course of the trial, Holmes alleged that Balwani, who was also her boyfriend at one particular stage, was abusive. Balwani’s attorneys have denied Holmes’ claims.

Balwani’s sentencing is scheduled for Dec. 7.

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