Elizabeth Holmes sentenced to 11 years in prison for her Theranos fraud

By November 21, 2022Tech

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By Verge Staff
Elizabeth Holmes, the founder, and CEO of disgraced blood-testing company Theranos, has been found guilty on three counts of wire fraud, as well as a count of conspiracy to commit fraud along with her co-founder Sunny Balwani. On November 18th, she was sentenced to 135 months, or about 11 and a half years, in prison for defrauding 10 victims out of $121 million.
Theranos was valued as high as $9 billion, and Holmes was a darling of Silicon Valley, sporting black turtlenecks that prompted comparisons to Steve Jobs.
Until John Carreyrou’s exposé was published in The Wall Street Journal. In that article, Carreyrou wrote that Theranos was using its own device for only a handful of tests and that other employees were concerned that the device wasn’t accurate.
Then it came out that Theranos’ labs weren’t up to par and its partnerships with Safeway and Walgreens fell apart. Also, Theranos junked two years’ worth of test results. Eventually, Holmes was banned from operating labs, and Theranos dissolved in 2018.
Nov 18, 2022, 10:18 PM UTCMitchell Clark
The founder and former CEO of Theranos will be spending time behind bars for defrauding investors.
Nov 8, 2022, 9:35 PM UTCRichard Lawler
As reported by the Wall Street Journal and New York Times, the Theranos co-founder’s sentencing is now scheduled for November 18th.
Holmes was found guilty on three counts of wire fraud, and one count of conspiracy to commit fraud. Each count carries a maximum sentence of up to 20 years in prison.
Jan 7, 2022, 6:25 PM UTCMariya Abdulkaf
Or will the ‘fake it till you make it’ mindset persist?
Jan 5, 2022, 1:30 PM UTCElizabeth Lopatto
The market’s only gotten weirder since Theranos
Jan 4, 2022, 12:23 AM UTCNicole Wetsman and Elizabeth Lopatto
The jury found she didn’t conspire to defraud patients, though
Dec 30, 2021, 3:00 PM UTCMariya Abdulkaf
Reasonable research teams are working to do more with smaller volumes of blood.
Dec 18, 2021, 1:10 AM UTCNicole Wetsman
They’ll decide whether or not she was the one in control
Dec 17, 2021, 2:30 AM UTCNicole Wetsman
It was never about the people
Dec 9, 2021, 1:00 PM UTCElizabeth Lopatto
All the queen’s men
Dec 8, 2021, 3:01 AM UTCElizabeth Lopatto
A scattershot day in court
Dec 1, 2021, 3:32 AM UTCElizabeth Lopatto
‘The buck stops with you?’
Nov 30, 2021, 3:14 AM UTCElizabeth Lopatto
“I have molded you,” Sunny Balwani texted
Nov 24, 2021, 2:13 AM UTCElizabeth Lopatto
Holmes confesses to a passion for graphic design
Nov 22, 2021, 11:45 PM UTCElizabeth Lopatto
“A success was that we had successfully achieved the objectives of the program.”
Nov 20, 2021, 3:22 AM UTCElizabeth Lopatto
From birth to the year 2006 in her first day of testimony
Nov 15, 2021, 11:14 PM UTCElizabeth Lopatto
We met an investor who won’t take a hint — or even a command
Nov 10, 2021, 1:55 AM UTCElizabeth Lopatto
It seems like the doctors were just at Theranos for show
Nov 3, 2021, 1:43 AM UTCElizabeth Lopatto
With a logo on a memo and a little bit of language trickery, Theranos snookered rich investors
Oct 27, 2021, 1:42 AM UTCNicole Wetsman
The family office took Elizabeth Holmes at her word
Oct 1, 2021, 11:58 PM UTCElizabeth Lopatto
‘Do I have an independent recollection of when I sent this email from seven years ago?’
Sep 30, 2021, 2:04 AM UTCElizabeth Lopatto
A preview of arguments to come
Sep 29, 2021, 1:34 AM UTCElizabeth Lopatto
A Steve Jobs biography makes an appearance in court — but it doesn’t explain Theranos’ problems
Sep 25, 2021, 1:49 AM UTCElizabeth Lopatto
By leaving them off email threads
Sep 23, 2021, 2:30 AM UTCElizabeth Lopatto
She pricked his finger, and he fell under her spell
Sep 22, 2021, 12:19 AM UTCElizabeth Lopatto
‘You can’t provide accurate patient care with inaccurate results.’
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