American Entrepreneur, Elizabeth Holmes Sentenced To 11-years Impriosnment For Fraud

November 19, 2022
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Holmes

Elizabeth Holmes

Elizabeth Holmes, the founder of the blood-testing startup Theranos, has bagged an 11-year jail term after she was found guilty of defrauding investors of hundreds of millions of dollars.

According to BBC, Holmes was jailed on Friday, having been found guilty in January after a three-month trial.

The 38-year-old pregnant woman falsely claimed the technology could diagnose disease with just a few drops of blood.

Holmes, once perceived as a Silicon Valley genius, was ordered to begin her prison sentence on April 27, 2023, in a case US District Judge Edward Davila described as “troubling on so many levels.”

Before Davila handed down his sentence, Holmes stood up and addressed the judge directly.

“Looking back, there are so many things I would do differently if I had the chance. I regret my failings with every cell of my body,”
Holmes said.

However, Holmes is expected to appeal the sentence because her lawyers had hoped for a short prison sentence or even home confinement.

She is expected to report to prison in five months and after her release, she is to spend three years under supervision.

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