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Elizabeth Holmes was sentenced to more than 11 years imprisonment

Theranos' founder and former CEO will spend time behind bars defrauding investors.

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According to John Carreyrou, Elizabeth Holmes has sentenced to 135 months or just over 11 years imprisonment. According to Yahoo Finance‘s Alexis Keenan, she must report to prison by April 27, 2023. She will also have three years of supervised freedom once she is out.

Judge Edward J. Davila sentenced Holmes to three years of supervision after her release from prison. She must begin serving time on April 27, 2023. According to NBC Bay Area, that deadline means that Holmes, who is currently pregnant with her second child, should have time to give birth before entering custody.

Judge Edward Davila oversaw the case. He declared that Holmes had been convicted of defrauding ten victims of $121million, according to The New York Times’ Erin Griffith. Davila stated that Holmes’ refusal to take responsibility for the fraud was a factor in her sentencing decision, according to The Wall Street Journal.

Holmes was found guilty by a jury on three counts of wire fraud and one count of conspiracy for wire fraud earlier this year. Prosecutors requested that the judge sentence Holmes to 15 years imprisonment and more than $800 million for victims in the weeks preceding her sentencing. The government claimed Holmes’ actions put patients in danger on trial. According to the WSJ,

Holmes’ lawyers also filed an 82-page argument by Holmes arguing that she should be given a lighter sentence — 18-month house arrest and community work maximum — and more than 100 letters in support of her founder.

Holmes was the founder of a company that promised to revolutionize medicine by running over 240 blood tests in a single drop. Traditional panels required larger samples.

It turned out that the tech used by the company needed to be fixed and provided incorrect results to patients. As a result, two counts of defrauding patients were dismissed, and one was denied. The trial focused primarily on Holmes’ knowledge that she was giving false information. according to NBC News’ Scott Budman., Davila announced his decision by citing texts between Holmes and Sunny Balwani, the former chief operating officer and president at Theranos, as evidence that Holmes conspired with investors.

Balwani was also convicted in a separate trial. He was convicted of 10 counts of wire fraud and two charges of conspiracy to commit fraud wire. Balwani, unlike Holmes, was found to have misled investors and patients. On December 7he will be sentenced.

Sourcethe verge

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