Elizabeth Holmes sentenced to 11 years in prison for Theranos fraud

November 19, 2022 08:16

Elizabeth Holmes

Elizabeth Holmes, the founder of shuttered blood testing company Theranos, was sentenced to 135 months, or 11 1/4 years, in prison on Friday (local time) for defrauding investors.

She was found guilty in January of duping investors and lying about the technology after a three-month trial.

The pregnant Holmes, wearing a black skirt and blouse, was given 135 months behind bars by US district judge Edward Davila in the same San Jose, Calif., courtroom where a jury convicted her in January, reported New York Post.

Holmes was sentenced to 11.25 years in prison, plus three years of supervised release.

At her trial, she was found guilty on four of 11 counts related to defrauding investors, but she was not found guilty of defrauding patients.

Holmes was found guilty on four of the 11 charges, as jurors decided she had lied to investors in an effort to raise money on false pretenses.

Holmes was found not guilty on four counts centered on defrauding patients and the jury could not reach a verdict on counts pertaining to the deception of investors, reported ABC News.

At the courthouse in San Jose, both sides of United States vs. Elizabeth Holmes presented their cases regarding whether Judge Edward Davila can consider Holmes' "reckless disregard" of patients in sentencing.

Davila rejected that proposal, since, at the original trial, Holmes was only found guilty of defrauding investors.

The sentence falls short of the maximum possible punishment for Holmes, who faced as many as 20 years in prison.

Holmes was also ordered to serve three years of supervised release after the sentence.

Holmes offered a tearful apology before the judge issued the sentence, quoting the poet Rumi, "Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself," reported ABC News. -- ANI

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