Elizabeth Holmes, the disgraced Theranos founder was once compared to Steve Jobs before she was convicted of defrauding investors who backed the now-defunct blood-testing company.
Elizabeth Holmes, the disgraced Theranos founder who was once compared to Steve Jobs before she was convicted of defrauding investors who backed the now-defunct blood-testing company, was sentenced to more than 11 years in prison on Friday.
“This is a fraud case where an exciting venture went forward with great expectations only to be dashed by untruths, misrepresentations, plain hubris and lies,” he said.REUTERS/Brittany Hosea-Small Davila ordered Holmes repay $121 million to 10 investors, including Murdoch and former Wells Fargo CEO Richard Kovacevich, who sat on the company’s board, according to the New York Times.REUTERSA probation report also submitted to Davila recommended a nine-year prison sentence for Holmes.
Once valued at $9 billion, Theranos promised to revolutionize how patients receive diagnoses by replacing traditional labs with small machines envisioned for use in homes, drugstores and even on the battlefield. Balwani, 57, is scheduled to be sentenced Dec. 7 after being convicted in a July trial on 12 counts of fraud and conspiracy.Peter DaSilva/EPA-EFE/Shuttersto
He also noted Holmes suffered through a case of COVID-19 in August while pregnant. Evans didn’t disclose Holmes’ due date in his letter.
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