A federal judge has sentenced disgraced Theranos CEO Elizabeth Holmes to more than 11 years in prison for duping investors.
A federal judge on Friday sentenced disgraced Theranos CEO Elizabeth Holmes to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing but instead made her a symbol of Silicon Valley's culture of audacious self-promotion.
The sentencing in the same San Jose, California, courtroom where Holmes was convicted on four counts of investor fraud and conspiracy in January marks another climactic moment in a saga that has been dissected in an HBO documentary and an award-winning Hulu series about her meteoric rise and mortifying downfall.
Prosecutors also wanted Holmes to pay $804 million in restitution. The amount covers most of the nearly $1 billion that Holmes raised from a list of sophisticated investors that included software magnate Larry Ellison, media mogul Rupert Murdoch and the Walton family behind Walmart. Although her lawyers didn't mention the pregnancy in an 82-page memo submitted to the judge last week, the pregnancy was confirmed in a letter from her current partner, William"Billy" Evans, that urged the judge to be merciful.
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | RSS Feed | Omny Studio Federal prosecutor Robert Leach declared that Holmes deserves a severe punishment for engineering a scam that he described as one of the most egregious white-collar crimes ever committed in Silicon Valley. In a scathing 46-page memo, Leach told the judge he has an opportunity to send a message that curbs the hubris and hyperbole unleashed by the tech boom.
Holmes' lawyer Kevin Downey painted her as a selfless visionary who spent 14 years of her life trying to revolutionize health care.
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