Elizabeth Holmes, the previous CEO and founding father of Theranos, has been sentenced to only over 11 years in jail for defrauding the traders of her blood testing startup. The sentence comes virtually a yr after Holmes was discovered responsible on 4 counts of fraud following a months-long trial.
In addition to her 11 yr and three-month sentence, Holmes could have three years of supervised launch. She may even be ordered to pay restitution, although the choose within the case stated that quantity might be decided at a separate listening to. A give up date was set for April twenty seventh.
Ahead of her sentencing, prosecutors had pushed for a 15-year sentence, whereas Holmes’ attorneys argued she ought to get not more than 18 months of home arrest. Her probation officer had really helpful 9 years, in line with The New York Times.
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Throughout the trial, Holmes’ attorneys tried to painting the Theranos founder as a younger and inexperienced entrepreneur who hadn’t meant to deceive traders or the general public. During her testimony, Holmes blamed a lot of Theranos’ issues on others on the firm, together with her former companion Ramesh “Sunny” Balwani.
She additionally testified that Balwani was abusive throughout their romantic relationship, and that he had misled her about what was occurring in Theranos’ lab. Balwani, who as COO additionally oversaw day-to-day operations of the corporate’s lab, was discovered responsible on 12 counts of fraud in a separate trial earlier this yr. His sentencing is due in December.
Even at her sentencing, Holmes proved she nonetheless has influential allies to defend her. Several Silicon Valley traders, together with early Theranos backer Tim Draper, wrote letters of help urging the choose for a lighter sentence. New Jersey Senator Cory Booker additionally wrote in her help, asking the choose for “a fair and just sentence.”
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