Elizabeth Holmes verdict live: Theranos founder to face restitution hearing after being jailed for 11 years

Jury finds Elizabeth Holmes guilty of fraud

Theranos founder Elizabeth Holmes has been sentenced to more than 11 years in prison for defrauding the blood-testing startup’s investors.

Holmes, who plans to appeal, will not have to report until April 2023 for her 135-month prison sentence, the judge announced during the hearing.

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“I am devastated by my failures,” the heavily pregnant Holmes apologized, crying in court.

“I feel deep pain for what people have suffered because I failed them.”

Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and pay $800m in restitution for his role in the company’s fraudulent claims.

Holmes’ lawyers described her as a scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani and became a loving mother.

Defense attorney Kevin Downie said Holmes had “good intentions” and there was no evidence she was motivated by greed.

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Holmes was convicted in January of three felony counts of wire fraud and one felony count of conspiracy to defraud.

Judge Davila said he would schedule a restitution hearing to determine how much Holmes would have to pay at a later date.

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

bevan hurley19 November 2022 13:00

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Holmes accepts responsibility for failure of Therano’s tearful court apology

“I am devastated by my failures. I feel deep pain for what people have suffered because I have failed them,” Elizabeth Holmes told the judge through tears.

This was the first time that Holmes had taken responsibility for the failure of Theranos.

Elizabeth Holmes speaks on stage during the closing session of the Clinton Global Initiative 2015

(Getty)

bevan hurley19 November 2022 12:00

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Devastating victim impact statement from informant’s father

Alex Schultz, the father of Theranos whistleblower Tyler, read a Victim Impact statement saying Holmes had taken a “wrecking ball” to his family.

She looked directly at Elizabeth Holmes as she said she feared for her life after Tyler hired private investigators to investigate her.

“My son slept every night with a knife under his pillow, thinking someone would come and kill him.”

Mr. Shultz is the son of former Secretary of State George Shultz, who was an early Theranos supporter.

bevan hurley19 November 2022 11:00 am

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Selfless visionary or scheming grifter?

But for many of her advocates and critics, Friday’s sentencing is unlikely to end the debate over whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over frankness.” .

bevan hurley19 November 2022 10:00

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by cheating is not right.

bevan hurley19 November 2022 09:00

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Judge says tragedy of case is Holmes was ‘genius’

Before sentencing Holmes to 11 years and three months in prison, Judge Edward Davila described the case as “so disturbing on so many levels”.

“The tragedy of the matter is that Ms. Holmes is brilliant, she had creative ideas. She’s a big thinker. She was going into an industry that was dominated by, let’s face it, male ego. She came.

Former Theranos CEO Elizabeth Holmes (C) arrives in federal court with her partner Billy Evans (R) and mother Noelle Holmes on November 18, 2022 in San Jose, California.

(Getty Images)

bevan hurley19 November 2022 08:00

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Elizabeth Holmes Ignores Media, Exits Courthouse Through Side Entrance

With dozens of cameras trained on the main entrance of the federal courthouse in San Jose after being sentenced, Elizabeth Holmes exited through an adjacent entrance.

He must report to corrections officers in April to begin his 11-year sentence.

(EPA)

bevan hurley19 November 2022 07:00

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Wall Street Journal reporter comments on Holmes’ sentencing

Reporting by John Carreiro wall street journal The problems uncovered at Theranos were in court for Holmes’ sentencing.

In remarks outside the courthouse, bad blood The author said that the sentence was “harsh”, but that Holmes had put patients at risk.

bevan hurley19 November 2022 06:00

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Selfless visionary or scheming grifter?

But for many of her advocates and critics, Friday’s sentencing is unlikely to end the debate over whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over frankness.” .

bevan hurley19 November 2022 05:00

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by cheating is not right.

bevan hurley19 November 2022 04:00

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