Elizabeth Holmes Sentenced To Over 11 Years In Prison
Trevor Schakohl on November 18, 2022
U.S. District Judge Edward Davila sentenced former Theranos CEO Elizabeth Holmes to 11.25 years in prison Friday for fraud-related offenses, according to The Wall Street Journal.
Holmes was convicted in January of conspiracy to commit wire fraud and three counts of wire fraud against Theranos investors, the outlet reported. The prosecution had wanted a 15-year prison sentence with three years of supervised release and restitution totaling over $800 million, while Holmes requested being sentenced to home confinement and community service, and no more than 18 months in prison.
Holmes started Theranos in 2004, and multiple prominent people eventually joined its board of directors. She claimed its blood testing technology would be able to detect hundreds of diseases from small blood samples and allow for testing outside laboratories, but a powerful Theranos investor sued for fraud in 2016 after the company was exposed for using traditional testing equipment to process most of its samples.
Former Theranos president and COO Ramesh Balwani, a one-time romantic entanglement of Holmes, was found guilty in July of 12 counts of wire fraud and conspiracy to commit wire fraud, according to NBC News.
Holmes’ lawyer Kevin Downey did not immediately respond to the Daily Caller News Foundation’s request for comment.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact The Daily Caller News Foundation.
Elizabeth Holmes Sentenced To Over 11 Years In Prison
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.