Theranos Founder Elizabeth Holmes Receives 11-Year Prison Sentence

Theranos founder Elizabeth Holmes acquired an 11-12 months sentence in prison on Friday, Nov. 18, next her conviction for defrauding traders.

What Took place: Decide Edward Davila sentenced the disgraced entrepreneur to 135 months, in addition a great of $400, or $100 for each individual rely of fraud.

Restitution for the circumstance is predicted at a afterwards day, which has still to be set.

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

“I cherished Theranos. It was my life’s work,” Holmes advised the court, referring to the unsuccessful blood-tests startup she introduced in 2003. “I am devastated by my failings.”

Holmes, who is expecting, also tackled her previous Theranos staff members, as nicely as its economical backers and individuals.

“I’m so, so sorry,” she explained. “I regret my failings with each mobile in my overall body.”

What’s Following: Theranos COO Ramesh “Sunny” Balwani was located guilty on 12 rates in a individual demo. He faces the similar sum of jail time as Holmes.

Throughout the trial, Holmes alleged that Balwani, who was also her boyfriend at one level, was abusive. Balwani’s attorneys have denied Holmes’ promises.

Balwani’s sentencing is scheduled for Dec. 7.

Subsequent: Sam Bankman-Fried Used FTX Money To Buy Residence In The Bahamas