Elizabeth Holmes was sentenced to more than 11 years in prison.
On Friday, US District Court Judge Edward Davila handed down a 135-month prison sentence to the disgraced founder of Theranos in federal court in San Jose, California. The hearing will be set at a later date.
The former Silicon Valley sweetheart faced up to 20 years in prison for defrauding investors out of hundreds of millions of dollars on false promises that she had developed technology that would revolutionize healthcare.
Holmes was convicted in January of three counts of wire fraud and one count of conspiracy after a jury found that she criminally deceived investors over false claims that her company’s blood-testing technology could diagnose diseases with just a few drops of blood.
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She was originally charged with 11 charges, four of which were acquitted, and the jury was unable to reach a verdict on the remaining three.
Prosecutors had asked Holmes to serve 15 years behind bars for her crimes, calling the case “one of the largest white-collar crimes ever seen in Silicon Valley or any other region.” Request for a 9-year monitoring report.
Besides the harm Holmes inflicted on Theranos investors, several factors influenced Holmes in her sentencing, according to Andrew George, a partner at the Washington, D.C., law firm Baker Butts. He told FOX Business before sentencing that Davila likely intended to set a sentence high enough to act as a deterrent in the high-profile case.
Theranos founder Elizabeth Holmes asks the judge for leniency before sentencing
Prosecutors argued during Friday’s hearing that Holmes should receive several improvements in sentencing, including more time served for her failure to take responsibility for her crimes, her failure to cooperate with the government’s investigation, and the amount of loss involved.
Holmes’ defense team had asked her to serve a maximum of 18 months, if any time at all, arguing that the case that captivated the nation destroyed her reputation, saying she posed no threat to the public, and noting that she had no prior criminal history.
Davila denied Holmes’ lawyer’s request for a sentence reduction because she accepted responsibility for what happened at Theranos, noting that the former CEO still “maintains that she did nothing wrong,” according to KTVU-TV.
Holmes’ defense team pleaded for leniency with the judge, arguing that she was a daughter and a mother who would be able to do good in the community moving forward. More than 130 individuals have sent letters to the judge supporting her character, some of which have been highly influential — including Senator Cory Booker.
Holmes addressed the court on Friday, weeping as she reiterated that she bore responsibility for what happened at Theranos – which she called her “life’s work” – and expressed remorse.
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The judge determined that under federal guidelines, Holmes’ recommended sentence should range from 11 to 14 years. Then after hearing the arguments from both sides, as well as the victim and the accused, he made his final decision, describing the case as “troubling on many levels.”
Prior to her sentencing, Holmes made several unsuccessful attempts to have her conviction overturned.
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