Elizabeth Holmes, the founder and CEO of disgraced blood-testing firm Theranos, has been found guilty on three counts of wire fraud, in addition to a rely of conspiracy to commit fraud alongside together with her co-founder Sunny Balwani.
On November 18th, 2022, she was sentenced to 135 months, or about 11 and a half years, in jail for defrauding 10 victims out of $121 million. She is interesting the ruling. Nevertheless, a decide has determined that she and Balwani owe the victims of their fraud $452 million.
Theranos was as soon as valued as excessive as $9 billion, and Holmes was a darling of Silicon Valley, sporting black turtlenecks that prompted comparisons to Steve Jobs.
That modified after John Carreyrou’s exposé was revealed in The Wall Road Journal. In that article, Carreyrou wrote that Theranos was utilizing its personal machine for less than a handful of checks and that different staff have been involved that the machine wasn’t correct.
