Elizabeth Holmes, founder and CEO of the collapsed Silicon Valley blood testing company, Theranos, has been sentenced to 11.25 years in prison plus three years supervised release for financial crimes she committed while running the once-high flying venture.m
Holmes was also fined a $400 special assessment. Holmes must surrender to custody on April 27, 2023. Holmes is expected to appeal.
The judge presiding over Holmes’ trial and sentencing said the landmark case, one of the most closely watched in Silicon Valley history, should be a cautionary tale for startup founders who are willing to overhype the capabilities of their products.
suppose we step back and ask what is the pathology of fraud? Is it the refusal to accept responsibility or express contrition in any way?” Judge Edward Davila said. “Perhaps that is the cautionary tale that will go forward from this case.”