Theranos CEO Sentenced to 11 Years in Prison over Fraud Charges

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The former CEO of Theranos Elizabeth Holmes was given a sentence of 11 years and three months in jail on Friday for her part in cheating investors of hundreds of millions of dollars, NPR reports.

Theranos was a startup company that performed blood tests.

In a case that U.S. District Judge Edward Davila called “troubling on so many levels,” Holmes, formerly seen as a Silicon Valley rising star, was given the go-ahead to start her jail term on April 27, 2023.

An emotional Holmes got to his feet and spoke to Davila before the judge gave his verdict.

According to Reuters, her attorneys are anticipated to persuade the judge to grant her request to stay free on bail throughout her anticipated appeal. They intend to challenge the judge’s rulings upholding Holmes’ conviction and imprisonment at the 9th U.S. Circuit Court of Appeals in San Francisco.

Judge Davila was informed at the hearing by Assistant U.S. Attorney Jeff Schenk that a 15-year sentence would “make a message that the objectives don’t justify the methods.”

Holmes’ attorney Kevin Downey requested house arrest, arguing that being lenient was appropriate because she was not driven by money like someone who did a “big crime” would be.

In court documents, it was said that the federal probation office had suggested a 9-year jail term.

Holmes allegedly misrepresented Theranos’ technology and finances throughout the trial, including by asserting that their miniature blood testing device could perform a variety of tests using just a few drops of blood, according to the prosecution.

Prosecutors said that the business used covertly purchased standard equipment from other businesses to do patients’ tests.

In her testimony in her own defense, Holmes stated that she had thought her claims to be true at the time, Reuters reports.

She was found guilty on four charges but exonerated on four others that accused her of defrauding Theranos test-paying customers.

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