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Prison term of more than 11 years forElizabeth Holmes of Theranos

Elizabeth Holmes was given a prison term of more than 11 years.

Elizabeth Holmes, the founder of Theranos, was found guilty of fraud earlier this year for her leadership of the now-defunct blood-testing business and received a sentence of more than 11 years in prison on Friday.


The former Silicon Valley darling's unceremonious fall from favor is put to a stop by the sentence, which Judge Edward Davila pronounced in U.S. District Court for the Northern District of California.

Holmes, who gave birth to her first child last year and is currently expecting a second, had pleaded with the court for home confinement and requested no more than 18 months in prison as her punishment.


In the well-known trial, the prosecution sought a 15-year prison term.


Holmes will serve a 135-month term in prison.


She received a $400 fine and might eventually be required to make restitution.


On three counts of wire fraud and one count of conspiracy to commit wire fraud, Holmes was found guilty in January.


For each of her four guilty counts, she could have received up to 20 years in prison.


When Holmes started Theranos in 2003, she had just dropped out of Stanford at the age of 19.

The company's valuation peaked at $9 billion.


After a Wall Street Journal exposé by reporter John Carreyrou in 2015 revealed the company's fraud, she gathered hundreds of millions of dollars from investors and put together a star-studded board of directors, but those efforts were not enough to keep the business afloat.


Carreyrou commended the contributions of the whistleblowers who came forward on what was happening at Theranos as the genuine heroes who uncovered Holmes's misdeeds when addressing Compliance Week's National Conference in Washington, D.C. in May.

By fLEXI tEAM




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