Elizabeth Holmes gets more than 11 years for Theranos scam
Judge said Theranos was dashed “by misrepresentations, hubris and just plain lies"
Image Credit: Bloomberg
- Disgraced Theranos CEO Elizabeth Holmes was sentenced Friday to more than 11 years in prison for duping investors in the failed startup that promised to revolutionise blood testing but instead made her a symbol of Silicon Valley ambition that veered into deceit.
- The sentence imposed by U.S. District Judge Edward Davila was shorter than the 15-year penalty requested by federal prosecutors but far tougher than the leniency her legal team sought for the mother of a year-old son with another child on the way.
- Holmes, who was CEO throughout the company’s turbulent 15-year history, was convicted in January in the scheme, which revolved around the company’s claims to have developed a medical device that could detect a multitude of diseases and conditions from a few drops of blood. But the technology never worked, and her claims were false.