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Elizabeth Holmes has been sentenced to 11 years behind bars in her fraud trial.
The founding father of the failed blood-testing start-up, Theranos, was sentenced on Friday by a choose in a federal court docket in San Jose, California. She was given 11.25 years behind bars and three years of supervised launch. The sentence will start April 2023.
As we have reported, Holmes was convicted on of 4 of 11 expenses she was dealing with in her fraud trial earlier this yr — one depend of conspiracy to commit wire fraud and three counts of wire fraud.
She was charged with conspiracy to commit wire fraud and a number of counts of wire fraud for deceiving traders, sufferers and advertisers … all looking for cash and fame. She was discovered not responsible on 4 counts … the jury could not attain a verdict on 3 of the counts.
In the course of the trial, Holmes testified that she had good intentions and put her belief within the scientists behind the start-up firm. It was additionally revealed throughout sentencing she’s pregnant together with her second baby … she additionally addressed the court docket, getting emotional and took accountability for Theranos — apologizing to traders.
Holmes additionally recited a quote from the poet Rumi, saying, “Yesterday I attempted to alter the world. Right now I am sensible, and wish to change myself.”
The billion-dollar firm promised it may carry out cheaper and simpler blood testing, however it was later revealed its gadgets may solely efficiently full 12 exams … as a substitute of Elizabeth’s declare of 1,000. The corporate shut down 3 years later.
There’s been a documentary, a best-selling e-book, a podcast and a drama sequence — “The Dropout” — all centered across the firm’s downfall.
She began the corporate when she was 19 … again in 2003.
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