The founder of Theranos was sentenced to more than 11 years in prison for fraud after deceiving investors about the effectiveness of her company's technology. She was told to turn herself in on April 27.
In the United States District Court for the Northern District of California, he was found guilty. She cried as she spoke to the court.
I was a huge fan of Theranos. "It was my life's work and I was proud of it." The team meant a lot to me. I am upset with my actions. I apologize so much. I did everything I could to make my company successful.
Her defense team wanted her to be sentenced to 18 months. She was sentenced to 135 months in prison, which is 11 years and 3 months.
The Wall Street Journal broke the story of how Theranos' blood-testing technology was failing to meet expectations. Detailed accounts of how the company was deceived about its progress and capabilities were given to the court by witnesses.
Theranos was worth $9 billion before shutting down.
I would like to say thank you for having me. She said thank you for the courtesy. I failed people and they went through a lot. I'm sorry.
The prosecutors wanted a 15-year sentence for the pregnant former billionaire. Balwani was convicted of 12 criminal fraud charges in July. Next month is when he will be sentenced.
The sentence was handed down by the district court judge.
The former billionaire tried to get a new trial after a former employee showed up at her door. Billy Evans told the court that the former employee apologized at their home.
Adam Rosendorff told the court that his comments were due to his distress at the thought of a child spending time without their mom. She gave birth to her first child in July.
Sam Bankman-Fried, a former billionaire, is facing a daunting future after the sudden collapse of his FTX exchange. Bankman- Fried hasn't been charged with a crime, but he is in legal jeopardy after revelations that his company was unable to give depositors their money back because some of it was used to fund risky, losing bets
ElizabethHolmes appeared in court for sentencing.
All Rights Reserved © 2024
