Jury finds Elizabeth Holmes guilty of fraud
Theranos founder Elizabeth Homes has been sentenced to more than 11 years in prison for defrauding the blood testing startup’s investors.
Holmes, who plans to appeal, will not have to appear for his 135-month prison sentence until April 2023, the judge announced during the hearing.
“I am devastated by my failures,” the heavily pregnant Holmes said in a tearful apology.
“I felt deep pain for what people went through, because I let them down.”
Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and pay $800 million in restitution for her role in the company’s fraudulent claims.
Holmes’ lawyers cast her as the scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother.
Defense attorney Kevin Downey said Holmes had “good intentions” and there was no evidence she was motivated by greed.
Holmes was convicted in January of three counts of wire fraud and one count of conspiracy to commit fraud.
Judge Davila said he would schedule a restitution hearing to determine how much Holmes will have to repay at a later date.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: “Failure is normal. But failure by fraud is not acceptable.
Bevan HurleyNovember 19, 2022 1:00 p.m.
Holmes admits blame for Theranos failure in tearful courtroom apology
“I am devastated by my failures. I felt deep pain for what people went through, because I let them down,” Elizabeth Holmes told the tearful judge.
It was the first time that Holmes had taken responsibility for the failure of Theranos.
Elizabeth Holmes speaks onstage during the closing session of the 2015 Clinton Global Initiative
(Getty)
Bevan HurleyNovember 19, 2022 12:00
Devastating victim statement from whistleblower’s father
Alex Schultz, the father of Theranos whistleblower Tyler, read a victim impact statement to say Holmes sent a “wrecking ball” to his family.
He looked directly at Elizabeth Holmes saying Tyler feared for her life after hiring private investigators to pry into her life.
“My son slept with a knife under his pillow every night thinking someone was coming to murder him.”
Mr. Schultz is the son of former Secretary of State George Schultz, who was an early backer of Theranos.
Bevan Hurley19 November 2022 11:00
Altruistic visionary or scheming trickster?
But for her many supporters and detractors, Friday’s sentencing is unlikely to end the debate over whether Holmes was a well-meaning humanitarian who put herself in over her head, or a charlatan in a sweater. turtleneck who chose “deceit over frankness”.
Bevan Hurley19 November 2022 10:00
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: “Failure is normal. But failure by fraud is not acceptable.
Bevan HurleyNovember 19, 2022 09:00
Judge says tragedy of case is Holmes was ‘brilliant’
Before sentencing Holmes to 11 years and three months in prison, Judge Edward Davila described the case as “so disturbing on so many levels”.
“The tragedy of this case is that Mrs. Holmes is brilliant, she had creative ideas. She is a big thinker. She was heading into an industry dominated, let’s face it, by the male ego. She entered this world.
Former Theranos CEO Elizabeth Holmes (C) arrives in federal court with her partner Billy Evans (R) and mother Noel Holmes on November 18, 2022 in San Jose, California
(Getty Images)
Bevan HurleyNovember 19, 2022 08:00
Elizabeth Holmes bypasses the media and exits the courthouse through a side entrance
With dozens of cameras trained on the main entrance of the San Jose Federal Courthouse following her sentencing, Elizabeth Holmes ducked out a side entrance.
She will have to report to correctional authorities to begin her 11-year sentence in April.
(APE)
Bevan HurleyNovember 19, 2022 07:00
A Wall Street Journal reporter comments on Holmes’ sentencing
John Carreyrou, whose reporting at the wall street journal problems exposed to Theranos, was in court to see Holmes sentenced.
In comments outside the courthouse, the Bad blood The author said the sentence was ‘stiff’ but appropriate given that Holmes had put the patients at risk.
Bevan HurleyNovember 19, 2022 06:00
Altruistic visionary or scheming trickster?
But for her many supporters and detractors, Friday’s sentencing is unlikely to end the debate over whether Holmes was a well-meaning humanitarian who put herself in over her head, or a charlatan in a sweater. turtleneck who chose “deceit over frankness”.
Bevan HurleyNovember 19, 2022 05:00
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: “Failure is normal. But failure by fraud is not acceptable.
Bevan HurleyNovember 19, 2022 04:00
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