The founder of Theranos was sentenced to more than a decade in prison for her role in a scheme to cheat investors. She will have three more years of supervision.
He won't have to report to prison until April.
The federal judge who oversaw her trial last year sentenced her on Friday. According to reporters in the courtroom, the judge said he would set a date in the future.
The pregnant woman cried while speaking in court.
You need to take responsibility for Theranos. She told reporters that it was her life's work.
She feels deep pain for what people went through because she failed them. She apologized to investors and patients and said she regretted her actions.
Her sentencing comes after a last-ditch attempt by her legal team to secure a new trial, which claimed that a key witness for the prosecution regrets the role he played in her conviction The request was turned down earlier this month.
The jury found him guilty of conspiracy to commit wire fraud against Theranos investors and three counts of fraud in connection to wire transfers. She could have been sentenced to 20 years in prison, but prosecutors wanted her to be sentenced to 15 years.
She chose lies, hype and the prospect of billions of dollars over patient safety and fair dealing with investors, according to an assistant US attorney. Everyone needed her to tell the truth and she was lying in the most serious context.
In 2015, her company was worth $9 billion.
After seven days of deliberations, the jury found her not guilty on four other counts, but failed to reach a decision on three others.
The jurors who spoke out after the trial concluded said they agreed to the guilty verdicts because it was clear to them that he lied to investors.
Everything happened to her. According to ABC News, a juror said that she had final approval for the dealings of Theranos.
The Wall Street Journal reported that an editorial manager at Apple said there were two "smoking guns" in the trial, a report from Theranos and a document from Pfizer.
She was found not guilty of defrauding patients because she was removed from them. The jurors couldn't agree on whether or not there was enough evidence to support the charges.
The request for a new trial was denied by the court.
A federal grand jury indicted her for making false claims about the blood-testing machines she was developing. According to investors, the devices could diagnose a wide range of conditions with just a few drops of blood, revolutionizing the standard medical testing process that requires a lot of blood.
When she was just 19 years old, Theranos was founded byHolmes. Silicon Valley, media outlets and prominent figures quickly pegged her as one to watch, helping her attract numerous high-profile investors, including the Walton family, founder of Walmart.
Her company was worth $9 billion by 2015. There was little evidence to show that Theranos machines would ever be functional, and that's what the company's whistle blowers told reporters. Investigations began to pile up as investors and business partners pulled out.
The US Securities and Exchange Commission barred him from serving as a director or officer of any public company for 10 years after he reached a settlement over additional fraud allegations.
All Rights Reserved © 2024
