Theranos Founder Elizabeth Holmes Receives 11-12 months Jail Sentence

Theranos founder Elizabeth Holmes obtained an 11-year sentence in jail on Friday, Nov. 18, following…

Theranos founder Elizabeth Holmes obtained an 11-year sentence in jail on Friday, Nov. 18, following her conviction for defrauding traders.

What Occurred: Choose Edward Davila sentenced the disgraced entrepreneur to 135 months, plus a positive of $400, or $100 for each depend of fraud.

Restitution for the case is predicted at a later date, which has but to be set.

See Additionally: Wall Road Crime And Punishment: The Blood On Elizabeth Holmes’ Fingers

“I liked Theranos. It was my life’s work,” Holmes advised the court docket, referring to the failed blood-testing startup she launched in 2003. “I’m devastated by my failings.”

Holmes, who’s pregnant, additionally addressed her former Theranos workers, in addition to its monetary backers and sufferers.

“I’m so, so sorry,” she stated. “I remorse my failings with each cell in my physique.”

What’s Subsequent: Theranos COO Ramesh “Sunny” Balwani was discovered responsible on 12 expenses in a separate trial. He faces the identical quantity of jail time as Holmes.

In the course of the trial, Holmes alleged that Balwani, who was additionally her boyfriend at one level, was abusive. Balwani’s legal professionals have denied Holmes’ claims.

Balwani’s sentencing is scheduled for Dec. 7.

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