Elizabeth Holmes Sentenced to 11 Years for Fraud Over Failed Company Theranos
Elizabeth Holmes was sentenced on Friday to 11 years and three months—or 135 months—in prison after she was found to have engaged in a multimillion-dollar scheme to defraud investors in her failed company, Theranos, which offered blood testing lab services.
The sentencing by U.S. District Judge Edward Davila in San Jose, California, came after Holmes was in January convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud to defraud investors. The jury verdict was reached after a trial that spanned three months.
The case revolved around claims by Theranos to have technology that could detect multiple diseases and conditions from a few drops of blood, but the technology did not work. The company also suggested that patients could receive diagnoses via small machines instead of traditional labs, and these machines could potentially be used in various settings, including in homes, pharmacies, and even on the battlefield….