Elizabeth Holmes Gets 11 Years in Prison

She was sentenced to over 11 years in prison for deceiving investors by saying her technology could detect diseases from a drop of blood.

The sentencing of the former Theranos CEO marks the end of the Silicon Valley saga in which she wooed investors with empty promises and racked up hundreds of millions of dollars. It is a case that could have an impact on how investors evaluate new businesses. Criminal charges of fraud are rare when a founder uses hyperbole to describe their vision.

Anat Alon-Beck says that she pushed the envelope a little too far. It was too much fake until you made it.

The case is still going on. A sentencing is scheduled for December 7th. He was found guilty on 12 counts of fraud and conspiracy. Balwani has denied accusations that he abused her.

She dropped out of the university to launch Theranos, which she claimed would change the medical world by using just a few drops of blood to detect hundreds of diseases. She turned the startup into a billion-dollar company. The inventors lied about their invention. Patients were put at risk of fake results instead of saving lives.

She was facing up to 20 years in prison for her crimes. According to the memo, her attorneys wanted her to serve 18 months of house arrest followed by supervised release and community service. The prosecutors wanted a 15-year prison sentence.

You need to take responsibility for Theranos. I was a huge fan of Theranos. I am sorry for my failures with my body.

In October he tried to get a new trial. She has filed a number of such motions after her conviction. The motion came after Adam Rosendorff came to her home to apologize for his role in the case. A judge denied the motion to use his testimony against her.

In June of last year, he was found guilty of 11 counts of fraud and was sentenced to four years in prison. A jury did not convict her of charges related to defrauding patients by subjecting them to faulty blood tests which gave them false positives. Theranos had made a deal with Walgreens which included plans to put Theranos blood-testing centers in thousands of its stores. Walgreens gambled on Theranos because they didn't do a full independent validation of the tech.