Elizabeth Holmes verdict live: Theranos founder must be heard after 11 years in prison

Jury finds Elizabeth Holmes guilty of fraud

Theranos founder Elizabeth Homes has been sentenced to more than 11 years in prison for defrauding investors of the blood test startup.

Holmes, who plans to appeal, is not due to report for her 135-month sentence until April 2023, the judge announced at the hearing.

“I am devastated by my shortcomings,” a heavily pregnant Holmes said in a tearful apology in court.

“I’ve felt deep pain for what people have been through, because I let them down.”

Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and that she pay $800 million in restitution for her role in the company’s fraudulent claims.

Holmes’ lawyers cast her as a scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother.

Defense attorney Kevin Downey said Holmes had “good intentions” and there was no evidence she was driven by greed.

Holmes was convicted in January of three counts of wire fraud and one count of conspiracy to commit fraud.

Judge Davila said he would schedule a hearing to determine how much to repay Holmes at a later date.

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss, “Failure is normal. But failure due to fraud is not okay.’

Bevan HurleyNovember 19, 2022 1:00 PM

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Holmes admits responsibility for Therano’s failure to make tearful apologies in court

“I am devastated by my shortcomings. I have felt deep pain for what people have gone through, because I let them down,” Elizabeth Holmes told the judge in tears.

It was the first time Holmes took responsibility for Theranos’ failure.

Elizabeth Holmes speaks on stage at the closing session of the 2015 Clinton Global Initiative

(Getty)

Bevan HurleyNovember 19, 2022 12:00 PM

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Devastating victim impact statement from whistleblower’s father

Alex Schultz, the father of Theranos whistleblower Tyler, read out a victim impact statement to say that Holmes brought a “wrecking ball” to his family.

He looked directly at Elizabeth Holmes as he said Tyler had feared for his life after she hired private investigators to snoop into his life.

“My son slept with a knife under his pillow every night, thinking someone was coming to kill him.”

Mr. Schultz is the son of former Secretary of State George Schultz, who was an early Theranos backer.

Bevan HurleyNovember 19, 2022 11:00 AM

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Selfless visionary or cunning con artist?

But for her many supporters and detractors, Friday’s ruling likely won’t end the debate over whether Holmes was a well-meaning humanitarian who intruded over her head, or a charlatan in a turtleneck who preferred “deceit over candor.”

Bevan HurleyNovember 19, 2022 10:00 am

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss, “Failure is normal. But failure due to fraud is not okay.’

Bevan HurleyNovember 19, 2022 09:00

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Judge says the tragedy of the case is that Holmes was “brilliant.”

Before Holmes was sentenced to 11 years and three months in prison, Judge Edward Davila described the case as “so disturbing on so many levels”.

“The tragedy of this case is that Mrs Holmes is brilliant, she had creative ideas. She is a great thinker. She moved into an industry dominated by, let’s face it, male ego. She stepped into that world.”

Former Theranos CEO Elizabeth Holmes (center) arrives in San Jose, California with her partner Billy Evans (R) and mother Noel Holmes in federal court on November 18, 2022

(Getty Images)

Bevan HurleyNovember 19, 2022 8:00 AM

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Elizabeth Holmes bypasses media, exits courthouse through side entrance

With dozens of cameras pointed at the main entrance of the federal courthouse in San Jose after her sentencing, Elizabeth Holmes dove out of a side entrance.

She will have to report to corrections officers to begin her 11-year sentence in April.

(EPA)

Bevan HurleyNovember 19, 2022 07:00

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Wall Street Journal reporter comments on Holmes verdict

John Carreyrou, whose reporting with the Wall Street Journal revealed trouble at Theranos, was in court to see Holmes convicted.

In comments outside the courthouse, the Bad blood author said the sentence was “stiff” but fitting given Holmes had put patients at risk.

Bevan HurleyNovember 19, 2022 06:00

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Selfless visionary or cunning con artist?

But for her many supporters and detractors, Friday’s ruling likely won’t end the debate over whether Holmes was a well-meaning humanitarian who intruded over her head, or a charlatan in a turtleneck who preferred “deceit over candor.”

Bevan HurleyNovember 19, 2022 05:00

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Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss, “Failure is normal. But failure due to fraud is not okay.’

Bevan HurleyNovember 19, 2022 04:00

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