Elizabeth Holmes Sentenced to Over 11 Years in Prison

Elizabeth Holmes, the once-believed wonder woman that would revolutionize blood testing for the future has been sentenced to over 11 years in prison after being convicted of defrauding investors.

Holmes was the founder of Theranos Inc. which claimed that she could greatly reduce the size of blood testing machines while also greatly reducing the likelihood of error with each test. Holmes was then convicted on Friday for a year-long scheme for misrepresenting Theranos’ technology.

The prosecution on Ms. Holmes' case requested 15 years in prison as well as over $800 thousand in restitution, however, Judge Davila expressed some sympathy for Ms. Holmes due to numerous letters written on her behalf by venture capitalists and entrepreneurs who reminded the judge that failure is quite common in the start-up industry. However, there is no excuse for the obvious fraud.

Source: Bloomberg