Elizabeth Holmes sentenced to 11 years in prison for Theranos fraud

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Elizabeth Holmes, the former Theranos CEO, has been sentenced to over 11 years in prison after being convicted of fraud earlier this year.

Former Theranos CEO Elizabeth Holmes arrives for her sentencing at federal court with her partner Billy Evans in San Jose, California. Holmes was convicted of four counts of fraud for allegedly engaging in a multimillion-dollar scheme to defraud investors.SAN JOSE, Calif. — Elizabeth Holmes, the former chief executive of the blood-testing startup Theranos, was sentenced on Friday to more than 11 years in federal prison for her role in defrauding investors out of hundreds of millions of dollars.

Holmes' defense lawyers had hoped for a short prison sentence, or even home confinement. Now Holmes, 38 and pregnant with her second child, is expected to report to prison in five months. After her release, she is to spend three years under legal supervision. The tech industry"finds vectors with financial and personal gain that clouds the good judgement of individuals," Davila said.

In January, a jury convicted Holmes on four wire fraud-related counts for her role in deceiving investors about a supposedly groundbreaking technology that could scan for hundreds of conditions with just a few drops of blood. It is a feat laboratory scientists around the world for years have tried to accomplish, but Holmes, a Stanford dropout, claimed she had perfected it.

Source: News Formal (newsformal.com)

 

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She gets 11 years, and Trump is free.

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