Theranos founder Elizabeth Holmes gets 11 years in prison

founder of theranos elizabeth holmes received 11 years in prison on Friday, November 18, after pleading guilty to defrauding investors.

What happened: judge Edward Davila Convicted businessman sentenced to 135 months, plus a fine of $400 or $100 on each count of fraud.

The matter is expected to be taken up at a later date, which is yet to be decided.

See also: Wall Street Crime and Punishment: The Blood on Elizabeth Holmes’ Fingers

“I loved Theranos. It was my life’s work,” Holmes told the court, referring to the failed blood-testing startup he launched in 2003. “I am devastated by my failures.”

Holmes, who is pregnant, addressed her former Theranos employees as well as its financial supporters and patients.

“I’m so sorry,” she said. “I regret my failures with every cell of my body.”

what will happen nextTheranos COO Ramesh “Sunny” Balwani was found guilty of 12 charges in a separate trial. He faces the same prison time as Holmes.

During the trial, Holmes alleged that Balwani, who was also her boyfriend at one point, was abusive. Balwani’s lawyers have denied Holmes’ claims.

Balwani will be sentenced on December 7.

Next: Sam Bankman-Fried used FTX funds to buy house in Bahamas

Leave a Comment

Your email address will not be published.

Then We Knew It Was on..” – Roman Reigns Shark Tank Keto Gummies Scam Alert? McDonald’s Halloween Buckets Could Be Back How to Watch Spacecraft Collide With Deep Space Asteroid Grand Theft Auto VI footage leaked after the hack Floyd Mayweather Jr boxer knocks out Mikuru Asakura martial artist