Theranos Founder Elizabeth Holmes Receives 11-12 months Jail Sentence

Theranos founder Elizabeth Holmes won an 11-year sentence in jail on Friday, Nov. 18, following her conviction for defrauding buyers.

What Came about: Pass judgement on Edward Davila sentenced the disgraced entrepreneur to 135 months, plus a advantageous of $400, or $100 for each depend of fraud.

Restitution for the case is anticipated at a later date, which has but to be set.

See Additionally: Wall Side road Crime And Punishment: The Blood On Elizabeth Holmes’ Hands

“I beloved Theranos. It used to be my existence’s paintings,” Holmes informed the courtroom, relating to the failed blood-testing startup she introduced in 2003. “I’m devastated by way of my failings.”

Holmes, who’s pregnant, additionally addressed her former Theranos staff, in addition to its monetary backers and sufferers.

“I’m so, so sorry,” she mentioned. “I be apologetic about my failings with each mobile in my frame.”

What is Subsequent: Theranos COO Ramesh “Sunny” Balwani used to be discovered in charge on 12 fees in a separate trial. He faces an identical quantity of jail time as Holmes.

All over the trial, Holmes alleged that Balwani, who used to be additionally her boyfriend at one level, used to be abusive. Balwani’s legal professionals have denied Holmes’ claims.

Balwani’s sentencing is scheduled for Dec. 7.

Subsequent: Sam Bankman-Fried Used FTX Budget To Purchase House In The Bahamas