Former Silicon Valley Star Found Guilty, Sentenced To 11 Years In Prison
Elizabeth Holmes, the founder of Theranos, has been sentenced to more than 11 years in prison for defrauding investors in her blood testing startup, which was once valued at $9 billion. At one point in time, Holmes was dubbed the next Steve Jobs and was said to be the worlds youngest self made billionaire.
The former Silicon Valley star claimed falsely that the technology could diagnose different diseases with just a few drops of blood. After a three-month trial, she was found guilty in January. Holmes is expected to file an appeal against the sentence, which was handed down in a California court this past Friday.
The supposed revolutionary technology that Holmes promoted did not work, and Theranos was dissolved by 2018. Holmes was also accused of lying to the firms financial backers about its performance. Before Judge Edward Davila handed down his sentence, Holmes delivered a tearful apology to investors and patients.
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