After a case that lasted four years, Theranos founder Elizabeth Holmes has been sentenced to 11 years in jail on four counts of fraud. She is also alleged to be owning 10 investors a restitution of about $121 million.
The sentencing is four years shy of what the prosecutors recommended and they had wanted her to pay $800 million to 29 investors. However, Judge Edward Davila’s ruling is seen as fair by many public commentators.
Before her sentencing, Holmes’ lawyers had asked for 18 months of house arrest. There have been rumours that the former billionaire was pregnant. She is expected to report to prison on April 27, 2023.
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In a last bid to rescue her from jail, her team had presented two new pieces of evidence, days before the sentencing. Also, Adam Rosendorff, a former Theranos lab director, appeared suddenly in her home and nearly caused a dramatic turn. However, as CNBC reported, Rosendoff stood by his previous testimony and said that his impromptu visit had been about closure and not remorse.
As quoted by Law360, Elizabeth Holmes claimed that she regretted her ‘failings’, amidst tears after hearing her sentence. Throughout the trial, she was portrayed as been naïve and having no intention of deceiving investors. Her final statement is also trying to make it appear that she had simply failed to deliver on her promises, as opposed to knowing that the company was always going to fail because the idea it sold was not based on anything her team could achieve.
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