Elizabeth Holmes Has Been Sentenced to Over 11 Years in Prison

Elizabeth Holmes, founder and former CEO of Theranos, arrives for motion hearing on Monday, November 4, 2019, at the U.S. District Court House inside Robert F. Peckham Federal Building in San Jose, California. (Photo by Yichuan Cao/NurPhoto via Getty Images)

Image Source: Getty / Yichuan Cao / NurPhoto via Getty Images

Elizabeth Holmes, the founder and CEO of failed at-home blood-testing startup Theranos, has been sentenced to 11 years and three months in jail, adopted by three years of supervised launch, NBC News reported on Nov. 18. “I remorse my failings with each cell of my physique,” Holmes instructed the court docket earlier than receiving her sentence, per the outlet.

Amid her notorious fraud trial, Holmes grew to become the topic of a number of tasks, together with HBO’s documentary “The Inventor” and Hulu’s miniseries starring Amanda Seyfried, “The Dropout.” With Theranos’s expertise, Holmes promised to quickly conduct tons of of medical exams with small quantities of blood. These claims, nevertheless, turned out to be false, despite the fact that Theranos’s exams had been being rolled out in drugstores throughout the nation for most people. Unlike the scams of faux heiress Anna Delvey, Holmes’s schemes yielded doubtlessly dangerous medical information, with sufferers later alleging that she duped them with false or faulty test results. Holmes, previously celebrated as a biotech wunderkind, was charged with 11 counts of fraud and conspiracy and found guilty on four of those charges. So what occurred to Holmes following Theranos’s demise? Here’s what we find out about her life following her high-profile case.

Who Is Elizabeth Holmes?

Before Holmes’s whereabouts at the moment, let’s first unpack the backstory that launched her Silicon Valley fame. In 2003, at age 19, Holmes dropped out of Stanford to give attention to constructing her firm. She raised $900 million in investor money and created a prototype for the Edison machine, which was speculated to yield correct blood-test outcomes utilizing a finger prick. Naturally, scientists had been extremely skeptical of the corporate’s claims, however that did not cease cash from pouring in.

How Did Elizabeth Holmes Get Caught?

Theranos’s decline happened when Wall Street Journal reporter John Carreyrou began publishing items about Theranos in 2015. The Edison was certainly too good to be true. It turned out that Theranos typically used third-party analyzers to run tests as a result of it could not conduct all of the exams it provided on its proprietary machines. In 2016, Walgreens, which had a number of areas serving as blood testing websites for the startup, cut ties with Theranos as a consequence of defective take a look at outcomes. The drugstore firm sued Theranos for $140 million for breach of contract and ultimately settled.

What Is Elizabeth Holmes’s Relationship Status?

While coping with Theranos’s fallout, Holmes grew to become engaged to Billy Evans, the heir to the Evans Hotel Group, in 2019. They later reportedly married in a secret ceremony. Due to the COVID-19 pandemic and her pregnancy, Holmes’s trial was delayed and didn’t formally begin till August 2021, a month after she gave birth to her first child.

Elizabeth Holmes (C), founder and former CEO of blood testing and life sciences company Theranos, leaves the courthouse with her husband Billy Evans after the first day of her fraud trial in San Jose, California on September 8, 2021. - California jurors tasked with deciding whether fallen biotech star Elizabeth Holmes is guilty of a stunning fraud or is herself a victim were set to hear opening arguments in her trial on September 8, 2021. Federal prosecutors in the heart of Silicon Valley have in their filings portrayed Holmes as a villain who swindled investors in the diagnostics company Theranos -- which she founded at age 19 -- with tests that did not work. (Photo by Nick Otto / AFP) (Photo by NICK OTTO/AFP via Getty Images)

Image Source: Getty / NICK OTTO / AFP

What Was Elizabeth Holmes’s Conviction and Sentence?

In 2018, the Securities and Exchange Commission (SEC) formally charged Holmes with defrauding investors. She and enterprise accomplice and former boyfriend Sunny Balwani pleaded not responsible. In July, Balwani was found guilty of two counts of conspiracy and 10 counts of wire fraud. His sentencing is at present scheduled for Dec. 7, per AP News. During her trial, Holmes testified that Balwani was controlling and sexually assaulted her throughout their relationship (claims that Balwani denies). With these allegations coming to mild, her protection crew argued the abuse Holmes confronted negatively impacted her means to make selections.

In January 2022, Holmes was convicted on three charges of wire fraud and one count of conspiracy to commit wire fraud by lying to investors. On Nov. 18, she was sentenced to over 11 years in jail.

Leave a Reply

Your email address will not be published.