Elizabeth Holmes sentencing: Theranos founder to face restitution hearing after being jailed for 11 years
Prosecutors are demanding that Holmes be given 15 years in prison
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Theranos founder Elizabeth Homes has been sentenced to more than 11 years in prison for defrauding investors of the blood-testing startup.
Holmes, who plans on appealing, will not have to report for her 135-month prison sentence until April 2023, the judge announced during the hearing.
“I am devastated by my failings,” a heavily-pregnant Holmes said in a tearful courtroom apology.
“I have felt deep pain for what people went through, because I failed them.”
Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and that she pay $800m in restitution for her role in the company’s fraudulent claims.
Holmes’ lawyers cast her as a scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother.
Holmes was convicted in January of three felony counts of wire fraud and one felony count of conspiracy to commit fraud.
Judge Davila said he would schedule a restitution hearing to determine how much Holmes must repay at a later date.
Holmes admits responsibility for Theranos failure in tearful courtroom apology
“I am devastated by my failings. I have felt deep pain for what people went through, because I failed them,” Elizabeth Holmes told the judge through tears.
It was the first time Holmes had taken responsibility for the Theranos failure.
Devastating victim impact statement from whistleblower’s father
Alex Schultz, the father of Theranos whistleblower Tyler, read a victim impact statement to say that Holmes had taken a “wrecking ball” to his family.
He looked directly at Elizabeth Holmes as he said Tyler had feared for his life after she hired private investigators to pry into his life.
“My son slept with a knife under his pillow every night thinking somebody was going to come and murder him.”
Mr Schultz is the son of former secretary of state George Schultz, who was an early Theranos backer.
Selfless visionary or scheming grifter?
In a climactic end to a stunning fall from grace for the one-time golden child of Silicon Valley, Elizabeth Holmes has been sentenced to 11 years and three months for cheating investors of her blood-testing start-up Theranos.
But for her many advocates and detractors, Friday’s sentence is unlikely to end the debate around whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over candour”.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
From college dropout at 19 to billionaire at 30 and convicted fraudster at 37, Elizabeth Holmes has had a a life trajectory unlike any of her Silicon Valley peers. Her tainted legacy will continue to be fought over for years to come, Bevan Hurley writes
Judge says tragedy of case is that Holmes was ‘brilliant'
Before sentencing Holmes to 11 years and three months prison, Judge Edward Davila described the case as “so troubling on so many levels”.
“The tragedy of this case is Ms Holmes is brilliant, she had creative ideas. She’s big thinker. She was moving into an industry that was dominated by, let’s face it, male ego. She got into that world.”
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK.’
Read on for full story.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK’
Selfless visionary or scheming grifter?
In a climactic end to a stunning fall from grace for the one-time golden child of Silicon Valley, Elizabeth Holmes has been sentenced to 11 years and three months for cheating investors of her blood-testing start-up Theranos.
But for her many advocates and detractors, Friday’s sentence is unlikely to end the debate around whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over candour”.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
From college dropout at 19 to billionaire at 30 and convicted fraudster at 37, Elizabeth Holmes has had a a life trajectory unlike any of her Silicon Valley peers. Her tainted legacy will continue to be fought over for years to come, Bevan Hurley writes
Wall Street Journal reporter comments on Holmes sentence
John Carreyrou, whose reporting at the Wall Street Journal exposed problems at Theranos, was in court to see Holmes sentenced.
In comments outside the courthouse, the Bad Blood author said the sentence was “stiff” but appropriate given Holmes had put patients at risk.
Elizabeth Holmes bypasses media, exits courthouse via side entrance
With dozens of cameras trained on the main entrance to the federal courthouse in San Jose after her sentencing, Elizabeth Holmes ducked out of a side entrance.
She will have to report to corrections officials to begin her 11 year sentence in April.
Judge says tragedy of case is that Holmes was ‘brilliant’
Before sentencing Holmes to 11 years and three months prison, Judge Edward Davila described the case as “so troubling on so many levels”.
“The tragedy of this case is Ms Holmes is brilliant, she had creative ideas. She’s big thinker. She was moving into an industry that was dominated by, let’s face it, male ego. She got into that world.”
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK.’
Read on for full story.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK’