Theranos CEO, Elizabeth Holmes, sentenced to 135 months in prison over $121m fraud in the U.S.

Ads

Popular convicted American con artist and founder of Theranos, Elizabeth Holmes, has been sentenced to 135 months in prison.

Holmes was convicted in January for defrauding 10 investors of Theranos, a failed blood testing startup, out of $121 million. She was found guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud.

READ ALSO  Actress Rahama Sadau Distances Self From Tinubu's Women Campaign Team

Judge Edward Davila on Friday, November 18, imposed a sentence of 11 years and three months in prison, with another three years of supervision after Holmes is released.

CNN reports that the sentence also includes a fine of $400, or $100 for each count of fraud. Restitution will be set at a later date. Holmes was ordered to turn herself into custody on April 27, 2023. She is expected to appeal her conviction.

Davila said that Holmes’ refusal to accept responsibility for the fraud counted against her in his sentencing decision.

READ ALSO  Disregard rumours making round that the body of missing boy was exhumed from the church alta - Police speak

Before the sentencing was announced, a tearful Holmes spoke to the court in San Jose, California.

“I loved Theranos. It was my life’s work. The people I tried to get involved with Theranos were the people I loved and respected the most. I am devastated by my failings. I regret my failings with every cell in my body,” she said.

READ ALSO  The world would sees us as an ingrates, if Osinbajo is maltreated - Northern Youth group warns

REGISTER TO JOIN NAIJABLOG FREE BLOGGING PLATFORM

NaijaBlog.ng

You May Also Find This Article interesting

ads

Be the first to comment

Leave a Reply

Your email address will not be published.


*