The former Theranos CEO’s fall is a cautionary tale for eccentric founders and the investors who blindly throw money at their inventions.
Holmes sought funding for Theranos, which she dropped out of Stanford University to launch, by claiming her technology would revolutionize the medical world, as it could use just a few drops of blood to scan for hundreds of diseases. She turned the startup into a $9 billion unicorn. But whistleblowers revealed Holmes had lied about the capabilities of her invention. Instead of saving lives, it had been putting patients at serious risk of fake results.
“I stand before you taking responsibility for Theranos. I loved Theranos. It was my life’s work," Holmesbefore receiving the sentence of 135 months, or 11.25 years. "I regret my failings with every cell of my body." In October, Holmes again tried to avoid prison by seeking a new trial. The latest motion came after former Theranos lab director Adam Rosendorff, a witness who testified against Holmes, came to her home attempting to apologize for the role he played in her conviction. That led Holmes to argue against the use of his testimony against her, but a judge rejected the motion in early November.
In June 2018, Holmes had been charged with 11 counts of fraud and convicted of four: one for conspiracy and three for wire fraud. A jury did not convict her of charges related to defrauding patients by subjecting them to faulty blood tests, which gave them
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Elizabeth Holmes faces judgment day for her Theranos crimesA federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.
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Elizabeth Holmes faces judgment day for her Theranos crimesA federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.
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Elizabeth Holmes faces judgment day for her Theranos crimesA federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.
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Elizabeth Holmes faces judgment day for her Theranos crimesA federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.
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Elizabeth Holmes faces 15 year sentence in Theranos fraudA federal judge will decide today whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.
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