Pregnant Theranos Founder Elizabeth Holmes Sentenced to 11 Years in Prison for Criminal Fraud
Theranos founder Elizabeth Holmes on Friday was sentenced to 135 months in prison (11.25 years).
Elizabeth Holmes, a darling of the corporate media and hack politicians, was convicted on four counts of criminal fraud.
Recall, Theranos collapsed after the truth came out about Elizabeth Holmes’ blood-testing devices.
Holmes claimed her breakthrough technology provided quick and reliable blood tests and only required a small amount of blood.
However, whistleblowers came forward and revealed the blood-testing technology didn’t actually exist.
Elizabeth Holmes is 38 years old and currently pregnant with her second child.
Theranos founder Elizabeth Holmes was sentenced Friday to more than 11 years in prison for fraud after deceiving investors about the purported efficacy of her company’s blood-testing technology. She was ordered to surrender on April 27.
Holmes was convicted in January in the U.S. District Court for the Northern District of California. She cried while speaking to the court ahead of her sentencing on Friday.
“I loved Theranos. It was my life’s work,” Holmes said. “My team meant the world to me. I am devastated by my failings. I’m so so sorry. I gave everything I had to build my company.”
Her defense team argued she should face a maximum sentence of 18 months, according to court filings. Instead, she was given 135 months, which amounts to 11 years and three months, behind bars.
Prosecutors sought a 15 year sentence for the pregnant 38-year-old former billionaire and Silicon Valley celebrity. In July, Balwani, who was romantically involved with Holmes years earlier, was found guilty of 12 criminal fraud charges. His sentencing is set for next month.
Holmes must surrender to prison on April 27, CNBC reported.
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