Elizabeth Holmes was once all the rage in Silicon Valley in her role as the founder and chief executive at blood-testing startup Theranos.
Holmes, 38, was sentenced to at least 11 years in federal prison for her role in defrauding investors out of hundreds of millions of dollars.
In case you don’t know Holmes, just know that in 2003 that she launched Theranos, a now-defunct health technology company that allowed blood samples to be drawn by a pinprick. As opposed to blood-testing samples that required much larger volumes of blood.
Elizabeth Holmes Sentenced to 11 Years In Prison
U.S. District Judge Edward Davila called Holmes’ case “troubling on so many levels” and ordered her to begin serving her sentence on April 27, 2023. She will then be under supervision for three years following her release.
Holmes seemed to admit her guilt and expressed regret in comments of her own.
“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,” she said, her voice cracking.
When Theranos was at its peak, Holmes lived in a $15 million mansion and flew on a private jet with then-boyfriend Ramesh “Sunny” Balwani, the No. 2 at the company.
Holmes raised more than $1 billion in investment money, but prosecutors argued that she fudged the results of Theranos blood tests before presenting them to investors.
“She knew that they were investing in Theranos based on a false premise,” prosecutor John Bostic told the judge. “She was aware of the mismatch between what she was presenting to investors and reality.”