Monday, November 28, 2022

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

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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.

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.

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