by The jury finds Elizabeth Holmes guilty of fraud
Theranos founder Elizabeth Homes has been sentenced to more than 11 years in prison for defrauding investors in the blood testing startup.
Holmes, who is appealing, does not have to report her 135-month sentence until April 2023, the judge said during the hearing.
“I’m devastated by my mistakes,” a heavily pregnant Holmes said in a tearful apology in the courtroom.
“I felt deep pain about 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 compensation for her role in the company’s fraudulent claims.
Holmes’ lawyers scapegoated her for overcoming 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 driven by greed.
Holmes was convicted in January of three counts of wire fraud and one of conspiracy to commit fraud.
Judge Davila said he would schedule an indemnity to determine how much Holmes would have to pay back at a later date.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former boss of Theranos, “Failure is normal. But failure through cheating is not okay.’
Bevan HurleyNovember 19, 2022 1:00 p.m
Holmes admits responsibility for Therano’s failure in a tearful courtroom apology
“I’m devastated by my mistakes. I felt deep pain for what people went through because I let them down,” Elizabeth Holmes told the judge through tears.
It was the first time that Holmes took responsibility for the failure of Theranos.
Elizabeth Holmes speaks on stage during the closing session of the 2015 Clinton Global Initiative
(Getty)
Bevan HurleyNovember 19, 2022 12:00 p.m
Devastating victim testimony from whistleblower’s father
Alex Schultz, the father of Theranos whistleblower Tyler, read a victim statement saying Holmes brought a “wrecking ball” to his family.
He looked straight at Elizabeth Holmes as he said Tyler feared for his life after she hired private investigators to infiltrate his life.
“My son slept every night with a knife under his pillow thinking someone was going to come and murder him.”
Mr. Schultz is the son of former Secretary of State George Schultz, who was an early supporter of Theranos.
Bevan HurleyNovember 19, 2022 11:00 am
Selfless visionary or scheming crook?
But for her many supporters and detractors, Friday’s verdict is unlikely to end the debate over whether Holmes was a well-intentioned philanthropist who outgrew her or a charlatan in a turtleneck who chose “deceit over frankness.” .
Bevan HurleyNovember 19, 2022 10:00 am
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former boss of Theranos, “Failure is normal. But failure through cheating is not okay.’
Bevan HurleyNovember 19, 2022 09:00
Richter says the tragedy of the case is that 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’s a great thinker. She operated in an industry dominated by, let’s face it, male ego. She has 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 8:00 am
Elizabeth Holmes walks past the media and exits the courthouse through the side entrance
With dozens of cameras trained on the main entrance to federal courthouse in San Jose after her sentencing, Elizabeth Holmes ducked out of a side entrance.
She must report to corrections officers to begin her 11-year sentence in April.
(EPA)
Bevan HurleyNovember 19, 2022 07:00
Reporters from the Wall Street Journal comment on Holmes’ verdict
John Carreyrou, whose reporting at the Wall Street Journal Problems uncovered at Theranos, went to court to see Holmes convicted.
In comments outside the courthouse, the bad blood The author said the verdict was “harsh” but appropriate because Holmes put patients at risk.
Bevan HurleyNovember 19, 2022 06:00
Selfless visionary or scheming crook?
But for her many supporters and detractors, Friday’s verdict is unlikely to end the debate over whether Holmes was a well-intentioned philanthropist who outgrew her or a charlatan in a 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 boss of Theranos, “Failure is normal. But failure through cheating is not okay.’
Bevan HurleyNovember 19, 2022 04:00
