News That Matters

Tag: Elizabeth Holmes

Elizabeth Holmes sentenced to 11 years for Theranos fraud
Business

Elizabeth Holmes sentenced to 11 years for Theranos fraud

Deposed Theranos CEO Elizabeth Holmes was sentenced to 11 years and three months behind bars on Friday, capping a years-long saga that captivated the technology world and closing a chapter on one of the most spectacular corporate flameouts in U.S. history. Federal Judge Edward Davila imposed the sentence after an unusual hearing that stretched over four hours in which prosecutors argued with Holmes' lawyers about her motives, investor losses and her degree of remorse.The sentence is likely to send a message to other high-flying technology startups about the risks of deceiving customers and investors, though it fell short of the 15 years prosecutors had sought.  Holmes is also set to serve three years of supervised release after her prison time. ...