Lawyers for Holmes argued that she was being unfairly punished for running a business that failed, and that she made a good faith attempt to succeed before the company imploded. On Friday, federal judge Edward Davila handed down a prison sentence of 135 months, or 11.25 years, with 3 years of supervised release for the 38-year-old founder and former CEO of Theranos. "Every day for the past years I have felt deep pain for what people went through because I failed them," Holmes said at the time.
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For instance, prosecutors showed that Holmes relied on altered third-party machines, not the company's own proprietary devices, to conduct blood tests, which were often riddled with inaccuracies.ĭuring the trial, Holmes expressed regret and said she wished she had operated the company differently. Theranos founder Elizabeth Holmes returned Monday to the courthouse in San Jose, Calif., after jurors in her fraud trial indicated they had a question. Last January, Holmes was convicted of fraud and conspiracy for duping investors about technology that she boasted would revolutionize how blood testing is performed by testing for hundreds of conditions with just a pinprick of blood.īut the technology never worked as promised. District Judge Edward Davila, who presided over Holmes' trial, found that her appeal did not raise "substantial questions of law or fact," and that she should not be allowed to remain out on bail as she fights her conviction.īut Holmes' freedom is now in the hands of the Ninth Circuit. Jeffrey Schenk, who also helped convict Balwani in that trial, will specialize in defending people accused of white-collar crimes as a partner for the law firm Jones Day in Silicon Valley.Technology Elizabeth Holmes verdict: Former Theranos CEO is found guilty on 4 countsĮarlier this month, U.S. Theranos founder Elizabeth Holmes 'lied and cheated' for money and fame, prosecutors alleged on the first day of the former Silicon Valley stars trial.
Attorney’s office in San Jose, California. The news of Holmes’ latest legal maneuver emerged the same day that it was announced one of the federal prosecutors who helped convict her is leaving the U.S.
Davila, who scolded Holmes for betraying Silicon Valley’s history of innovation when he sentenced her in November, subsequently rejected that request.ĭavila had recommended Holmes be incarcerated at a low-security prison camp in Bryan, Texas, but it has not been publicly disclosed if that is where she has been assigned to serve her sentence.
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Holmes, 38, l ast appeared in court about a month ago, shortly after giving birth to her second child in an attempt to persuade Davila to allow her to remain free while she appeals her conviction. Theranos founder Elizabeth Holmes has again delayed the start of her 11-year prison sentence for fraud charges, after appealing a previous decision that would have required her to turn herself in. The claims helped the company become a Silicon Valley sensation that raised nearly $1 billion from investors. The Theranos founder was set to report to prison Thursday to begin serving an 11-year. Elizabeth Holmes returns to court in bid to avoid prisonīalwani, 57, is now serving a nearly 13-year prison sentence in a federal prison located in San Pedro, California after being convicted of 12 counts of fraud and conspiracy.Īlthough they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos’ blood-testing system as a revolutionary breakthrough in health care. Elizabeth Holmes, the founder of shuttered blood testing company Theranos, was sentenced to 135 months, or 11 1/4 years, in prison on Friday for defrauding investors. A jury has convicted Theranos founder Elizabeth Holmes on four counts of fraud on their seventh day of deliberations. 2 days ago &0183 &32 Elizabeth Holmes has managed to buy herself more time as a free woman before reporting to prison.
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