Elizabeth Holmes verdict live: Theranos founder to face restitution hearing after being jailed for 11 years

Elizabeth Holmes verdict live: Theranos founder to face restitution hearing after being jailed for 11 years

Jury finds Elizabeth Holmes guilty of fraud

Theranos founder Elizabeth Homes has been sentenced to more than 11 years in prison for defrauding investors of the blood-testing startup.

Holmes, who plans on appealing, will not have to report for her 135-month prison sentence until April 2023, the judge announced during the hearing.

“I am devastated by my failings,” a heavily-pregnant Holmes said in a tearful courtroom apology.

“I have felt deep pain for what people went through, because I failed them.”

Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and that she pay $800m in restitution for her role in the company’s fraudulent claims.

Holmes’ lawyers cast her as a scapegoat who overcame a toxic relationship with Theranos COO Ramesh “Sunny” Balwani to become a loving mother.

Holmes was convicted in January of three felony counts of wire fraud and one felony count of conspiracy to commit fraud.

Judge Davila said he would schedule a restitution hearing to determine how much Holmes must repay at a later date.

1668862800

Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK.’

Bevan Hurley19 November 2022 13:00

1668859200

Holmes admits responsibility for Theranos failure in tearful courtroom apology

“I am devastated by my failings. I have felt deep pain for what people went through, because I failed them,” Elizabeth Holmes told the judge through tears.

It was the first time Holmes had taken responsibility for the Theranos failure.

Elizabeth Holmes speaks on stage during the closing session of the Clinton Global Initiative 2015

(Getty)

Bevan Hurley19 November 2022 12:00

1668855600

Devastating victim impact statement from whistleblower’s father

Alex Schultz, the father of Theranos whistleblower Tyler, read a victim impact statement to say that Holmes had taken a “wrecking ball” to his family.

He looked directly at Elizabeth Holmes as he said Tyler had feared for his life after she hired private investigators to pry into his life.

“My son slept with a knife under his pillow every night thinking somebody was going to come and murder him.”

Mr Schultz is the son of former secretary of state George Schultz, who was an early Theranos backer.

Bevan HurleyNov 19, 2022 11:00 a.m.

1668852000

Selfless visionary or scheming grifter?

But for her many advocates and detractors, Friday’s sentence is unlikely to end the debate around whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over candour”.

Bevan HurleyNov 19, 2022 10:00 a.m.

1668848400

Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK.’

Bevan HurleyNovember 19, 2022 09:00

1668844800

Judge says tragedy of case is that Holmes was ‘brilliant’

Before sentencing Holmes to 11 years and three months in prison, Judge Edward Davila described the case as “so troubling on so many levels”.

“The tragedy of this case is Ms Holmes is brilliant, she had creative ideas. She’s big thinker. She was moving into an industry that was dominated by, let’s face it, male ego. She got into that world.”

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her partner Billy Evans (R) and mother Noel Holmes on November 18, 2022 in San Jose, California

(Getty Images)

Bevan Hurley19 November 2022 08:00

1668841200

Elizabeth Holmes bypasses media, exits courthouse via side entrance

With dozens of cameras trained on the main entrance to the federal courthouse in San Jose after her sentencing, Elizabeth Holmes ducked out of a side entrance.

She will have to report to corrections officials to begin her 11 year sentence in April.

(EPA)

Bevan HurleyNovember 19, 2022 07:00

1668837600

Wall Street Journal reporter comments on Holmes sentence

John Carreyrou, whose reporting at the wall street journal exposed problems at Theranos, was in court to see Holmes sentenced.

In comments outside the courthouse, the Bad Blood author said the sentence was “stiff” but appropriate given Holmes had put patients at risk.

Bevan Hurley19 November 2022 06:00

1668834000

Selfless visionary or scheming grifter?

But for her many advocates and detractors, Friday’s sentence is unlikely to end the debate around whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deceit over candour”.

Bevan HurleyNovember 19, 2022 05:00

1668830459

Theranos founder Elizabeth Holmes sentenced to 11 years in prison

Judge Edward Davila told the heavily pregnant former Theranos boss: ‘Failure is normal. But failure by fraud is not OK.’

Bevan Hurley19 November 2022 04:00

Leave a Comment

Your email address will not be published. Required fields are marked *