Theranos Founder Elizabeth Holmes Has Been Sentenced To Over 11 Years In Prison
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Theranos founder and former CEO Elizabeth Holmes has been sentenced to more than 11 years of prison on Friday.
On Friday, U.S. District Judge Edward Davila, who over saw the months long trial, sentenced her to more 135 months in prison which adds up to 11 years and three months per CNBC.
Per the judge, she will also have another three years of supervision after she is released. She has until April 27, 2023, to turn herself in.
Holmes started the company in 2003 when she was 19 after she dropped out of Stanford University.
She raised $954 million from investors, including media mogul Rupert Murdock, Oracle founder Larry Ellison, and Walmart’s Walton family. At one point, Theranos was valued at $9 million. Holmes claimed the company would revolutionize health care with tests that required only a few drops of blood.
In 2015, things started to unravel when The Wall Street Journal first broke the story of how Theranos’ blood testing technology was not meeting expectations.
Shortly after several whistleblowers and witnesses came forward to reveal how Holmes and her former operating chief Ramesh “Sunny” Balwani deceived patients, partners, and investors.
Friday’s sentencing caps a years-long saga that captivated the public and even inspired the Hulu limited series “The Dropout,” starring Amanda Seyfried as Elizabeth Holmes.
-Emely Navarro
