Elizabeth Holmes, the “darling of Silicon Valley,” has been sentenced to years in prison for fraud. The judge has ruled that she must go to prison for 11 years.
The former top woman of the American Theranos, gets more than eleven years in prison for fraud at the blood testing company she founded.
Holmes, 38, was found guilty of fraud earlier this month. The jury found it partially proven that Holmes defrauded investors out of hundreds of millions of dollars and put patients at risk with inaccurate lab results. She was acquitted of a number of charges.
‘I’m devastated’
The sentence handed down by a San Jose district judge on Friday is much closer to the 15-year sentence prosecutors had sought than the house arrest or up to 18 months in prison that Holmes’ lawyers had asked for. Her counsel is expected to ask that Holmes be allowed to await an appeal in liberty.
“I am devastated by my shortcomings,” Holmes said before Friday’s verdict. “Looking back, there are so many things I would do differently if I had the chance. I tried to realize my dream too quickly.”
The plagued Theranos ceased to exist in 2018. The company was worth $9 billion at its peak. Many investors, including Rupert Murdoch and former US Secretary of Education Betsy DeVos, lost many millions in the affair.
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