Elizabeth Holmes sentenced to 11 years behind bars for Theranos fraud

After being found guilty of fraud earlier this year, Elizabeth Holmes, the former chief executive officer of Theranos, was given a sentence of more than 11 years in jail.

In connection with her fraud case, Elizabeth Holmes was found guilty and received a sentence of 11 years in prison.

A judge in a federal court in San Jose, California, handed down a punishment on Friday to Elizabeth Holmes, the founder of the blood testing startup Theranos, for her role in the company’s failure. She received a total of 11.25 years in prison in addition to three years of supervised release. The term of imprisonment will start in April 2023.

Earlier this year, Holmes was found guilty on four of the eleven charges she was facing in the fraud trial she was participating in. She was found guilty on one count of conspiracy to commit wire fraud as well as three counts of wire fraud.

She is accused of tricking investors, patients, and advertisers in order to gain money and celebrity, which led to her being charged with conspiracy to conduct wire fraud as well as many charges of wire fraud. She was found not guilty on four of the counts, but the jury was unable to reach a decision on the other three counts.

During the course of the trial, Holmes testified that she trusted the scientists who were behind the start-up company because she believed they had good intentions. During her sentencing, it was also disclosed that she is expecting her second child… she also addressed the court, growing emotional as she acknowledged responsibility for Theranos and apologized to investors for the company’s actions.

In addition, Holmes quoted a quote from the poet Rumi, which was as follows: “The previous day, I attempted to make the world a better place. Now that I’m older and wiser, I want to make some changes in my life.”

The multibillion-dollar corporation made the claim that it could perform blood testing more quickly and affordably, but it was later discovered that their equipment could only successfully complete 12 tests, in contrast to Elizabeth’s claim that they could successfully complete 1,000 tests. After another three years, the company went out of business.

The decline of the corporation has been the subject of a number of media representations, including a documentary, a best-selling book, a podcast, and a TV series titled “The Dropout.”

She established the business when she was 19 years old… in the year 2003.