Elizabeth Holmes Sentenced To 11 Years In Prison
The founder of the failed blood-testing start-up, Theranos, was sentenced on Friday by a judge in a federal court in San Jose, California. She was given 11.25 years behind bars and 3 years of supervised release. The sentence will begin April 2023.
She was charged with conspiracy to commit wire fraud and multiple counts of wire fraud for deceiving investors, patients and advertisers … all in search of money and fame. She was found not guilty on 4 counts … the jury couldn’t reach a verdict on 3 of the counts.
During the trial, Holmes testified that she had good intentions and put her trust in the scientists behind the start-up company. It was also revealed during sentencing she’s pregnant with her second child … she also addressed the court, getting emotional and took responsibility for Theranos — apologizing to investors.
Holmes also recited a quote from the poet Rumi, saying, “Yesterday I tried to change the world. Today I’m wise, and want to change myself.”
The billion-dollar company promised it could perform cheaper and easier blood testing, but it was later revealed its devices could only successfully complete 12 tests … instead of Elizabeth’s claim of 1,000. The company shut down 3 years later.
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