Elizabeth Holmes, the previous CEO and founding father of Theranos, has been sentenced to simply over 11 years in jail for defrauding the buyers of her blood testing startup. The sentence comes nearly a yr after Holmes was discovered responsible on 4 counts of fraud following a months-long trial.
In addition to her 11 yr and three-month sentence, Holmes may have three years of supervised launch. She can even be ordered to pay restitution, although the choose within the case stated that quantity might be decided at a separate listening to. A give up date was set for April twenty seventh.
Ahead of her sentencing, prosecutors had pushed for a 15-year sentence, whereas Holmes’ attorneys argued she ought to get not more than 18 months of home arrest. Her probation officer had recommended 9 years, based on The New York Times.
Throughout the trial, Holmes’ legal professionals tried to painting the Theranos founder as a younger and inexperienced entrepreneur who hadn’t supposed to deceive buyers or the general public. During her testimony, Holmes blamed lots of Theranos’ issues on others on the firm, together with her former associate Ramesh “Sunny” Balwani.
She additionally testified that Balwani was abusive throughout their romantic relationship, and that he had misled her about what was taking place in Theranos’ lab. Balwani, who as COO additionally oversaw day-to-day operations of the corporate’s lab, was discovered responsible on 12 counts of fraud in a separate trial earlier this yr. His sentencing is due in December.
Even at her sentencing, Holmes proved she nonetheless has influential allies to defend her. Several Silicon Valley buyers, together with early Theranos backer Tim Draper, wrote letters of assist urging the choose for a lighter sentence. New Jersey Senator Cory Booker additionally wrote in her assist, asking the choose for “a fair and just sentence.”
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