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HomeBusinessTheranos Founder Elizabeth Holmes Receives 11-Yr Jail Sentence

Theranos Founder Elizabeth Holmes Receives 11-Yr Jail Sentence

Theranos founder Elizabeth Holmes acquired an 11-year sentence in jail on Friday, Nov. 18, following her conviction for defrauding traders.

What Occurred: Decide Edward Davila sentenced the disgraced entrepreneur to 135 months, plus a fantastic of $400, or $100 for each depend of fraud.

Restitution for the case is predicted at a later date, which has but to be set.

See Additionally: Wall Road Crime And Punishment: The Blood On Elizabeth Holmes’ Fingers

“I beloved Theranos. It was my life’s work,” Holmes informed the court docket, referring to the failed blood-testing startup she launched in 2003. “I’m devastated by my failings.”

Holmes, who’s pregnant, additionally addressed her former Theranos workers, in addition to its monetary backers and sufferers.

“I’m so, so sorry,” she stated. “I remorse my failings with each cell in my physique.”

What’s Subsequent: Theranos COO Ramesh “Sunny” Balwani was discovered responsible on 12 costs in a separate trial. He faces the identical quantity of jail time as Holmes.

Through the trial, Holmes alleged that Balwani, who was additionally her boyfriend at one level, was abusive. Balwani’s legal professionals have denied Holmes’ claims.

Balwani’s sentencing is scheduled for Dec. 7.

Subsequent: Sam Bankman-Fried Used FTX Funds To Purchase House In The Bahamas




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