Elizabeth Holmes, the former CEO of Theranos, has been sentenced to over 11 years in prison for defrauding investors after a jury found her guilty last year. In addition to the prison term, Holmes has been ordered to pay $452 million to the victims. Her former partner, Ramesh “Sunny” Balwani, who was also involved in
Elizabeth Holmes, the former CEO of Theranos, has been sentenced to over 11 years in prison for defrauding investors after a jury found her guilty last year. In addition to the prison term, Holmes has been ordered to pay $452 million to the victims. Her former partner, Ramesh “Sunny” Balwani, who was also involved in the fraud, received a 13-year prison sentence. Holmes had requested to remain free during the appeal process, but the judge denied her request. It is now recommended that Holmes serves her sentence at a federal minimum-security women’s prison in Bryan, Texas.
Elizabeth Holmes, the founder of Theranos, had sought a new trial by raising concerns about her case, but Judge Davila rejected her arguments. The judge emphasized that Holmes’ misrepresentations to investors went beyond the accuracy and reliability of Theranos’ technology. Holmes’ attorneys also requested her release during the appeal process, citing her responsibilities as a mother to her two children.
Currently residing in San Diego with her partner and their young children, Holmes was once considered the youngest self-made billionaire and was hailed as the “next Steve Jobs.” However, Theranos faced a downfall in 2018 when investigations revealed the failure of its blood-testing device, which was claimed to perform various tests with only a small amount of blood.
Incidentally the company’s demise has been documented in a TV series, HBO documentary, and podcast.
Introducing “The Inventor: Out for Blood in Silicon Valley” – an enthralling American documentary film that will captivate you. Directed and produced by the talented Alex Gibney, this cinematic masterpiece delves into the captivating story of Elizabeth Holmes and her former company, Theranos.
Considered a remarkable companion piece to the acclaimed book “Bad Blood: Secrets and Lies in a Silicon Valley Startup,” this documentary sheds light on the intriguing events surrounding Holmes and Theranos.
“The Inventor” made its highly anticipated world premiere at the prestigious Sundance Film Festival on January 24, 2019. Crafted in collaboration with HBO Documentary Films and Jigsaw Productions, this captivating film also premiered on HBO and its streaming platforms on March 18, 2019,
More to her story on Forbes.
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