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Elizabeth Holmes Handed an 11-Year Prison Sentence
Elizabeth Holmes, founder and former CEO of Theranos, has been sentenced to more than 11 years in prison.
Holmes was found guilty of fraud over her role in her company’s unsubstantiated claims. The case gained widespread attention, with some critics afraid it would establish a precedent of company founders being prosecuted any time their companies fail to deliver.
Prosecutors were seeking a 15-year sentence, along with $800 million in restitution. In contrast, Holmes’ attorneys argued that she should be sentenced to a maximum of 18 months. According to CNBC, however, U.S. District Court Judge Edward Davila sentenced the former exec to 135 months.
“I loved Theranos. It was my life’s work,” Holmes said. “My team meant the world to me. I am devastated by my failings. I’m so so sorry. I gave everything I had to build my company.”
Elizabeth Holmes Handed an 11-Year Prison Sentence
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