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

Jury finds Elizabeth Holmes guilty of fraud

Theranos founder Elizabeth Homes 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 appear for his 135-month prison sentence until April 2023, the judge announced during the hearing.

“I am devastated by my failures,” the heavily pregnant Holmes said in a tearful apology.

“I felt deep pain for what people went through, because I let them down.”

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

Holmes’ lawyers cast her as the scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother.

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

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

1668871846

Will Silicon Valley learn anything from Holmes’ conviction?

Will anyone in the tech industry actually take this moment to heart? Don’t count on it.

Megan SheetsNovember 19, 2022 3:30 p.m.

1668867346

Who is Elizabeth Holmes?

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

The Justice Department left no doubt about the 38-year-old’s criminal intent. in s 46-page scathing memo on sentencingAssistant U.S. Attorney Robert Leach described the Theranos implosion as one of the “biggest white-collar offenses Silicon Valley or any other district has ever seen.”

Leach wrote that the Theranos founder “fed on her investors’ hopes that a young, dynamic entrepreneur had changed healthcare.”

During this time, Holmes’ legal team attempted to portray her as a devoted mother, daughter and friend who tried to help countless others through her generosity and faith.

The Independents Bevan Hurley explores who Holmes really is:

Megan SheetsNovember 19, 2022 2:15 p.m.

1668862800

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 fraud is not acceptable.

Bevan HurleyNovember 19, 2022 1:00 p.m.

1668859200

Holmes admits blame for Theranos failure in tearful courtroom apology

“I’m devastated by my failures. I felt deep pain for what people went through, because I let them down,” Elizabeth Holmes told the tearful judge.

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

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

(Getty)

Bevan HurleyNovember 19, 2022 12:00

1668855600

Devastating victim statement from whistleblower’s father

Alex Schultz, the father of Theranos whistleblower Tyler, read a victim impact statement to say Holmes sent a “wrecking ball” at his family.

He looked directly at Elizabeth Holmes saying Tyler feared for her life after hiring private investigators to pry into her life.

“My son slept with a knife under his pillow every night thinking someone was coming to murder him.”

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

Bevan Hurley19 November 2022 11:00

1668852000

Altruistic visionary or scheming trickster?

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

Bevan Hurley19 November 2022 10:00

1668848400

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 fraud is not acceptable.

Bevan HurleyNovember 19, 2022 09:00

1668844800

Judge says tragedy of case is Holmes was ‘brilliant’

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 this case is that Mrs. Holmes is brilliant, she had creative ideas. She is a great thinker. She was heading into an industry dominated, let’s face it, by the male ego. She entered this world .

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

(Getty Images)

Bevan HurleyNovember 19, 2022 08:00

1668841200

Elizabeth Holmes bypasses the media and exits the courthouse through a side entrance

With dozens of cameras trained on the main entrance of the San Jose Federal Courthouse following her sentencing, Elizabeth Holmes ducked out a side entrance.

She will have to report to correctional authorities to begin her 11-year sentence in April.

(APE)

Bevan HurleyNovember 19, 2022 07:00

1668837600

A Wall Street Journal reporter comments on Holmes’ sentencing

John Carreyrou, whose reporting at the wall street journal problems exposed to Theranos, was in court to see Holmes sentenced.

In comments outside the courthouse, the Bad blood the author said the sentence was “stiff” but appropriate given that Holmes had put the patients at risk.

Bevan HurleyNovember 19, 2022 06:00

Leave a Comment

Your email address will not be published. Required fields are marked *