John Carreyrou, a journalist, said that ElizabethHolmes had been sentenced to over 11 years in prison. She will have an additional three years of supervised release once she is out, according to Yahoo Finance.
The New York Times reported that the judge declared that she was responsible for defrauding 10 victims out of $121 million. According to The Wall Street Journal, she said that his refusal to accept responsibility for the fraud counted against her.
The jury found him guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud. In the weeks leading up to her sentencing, prosecutors asked the judge to give her 15 years of prison time and to pay victims more than 800 million dollars. According to the WSJ, on the day of the trial, the government argued that patients were in danger.
Lawyers for the woman argued in a document that she should only be sentenced to 18 months of house arrest and community service.
The medical industry was promised to be changed by the company that led it by running over 120 tests on a single drop of blood.
The company's tech didn't work and patients were given inaccurate results. There were three counts of conspiracy to defraud patients and two counts of defrauding patients. The main issue in the trial was whether or not she knew she was giving out false information. According to Scott Budman of NBC News, in announcing his decision, Davila cited texts between Holmes and the former chief operating officer of Theranos.
Balwani was found guilty of 10 counts of wire fraud in a separate trial. Balwani lied to both investors and patients. On December 7th, he will be sentenced.
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