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

Prosecutors are demanding that Holmes be given 15 years in prison

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.

Key Points

• Theranos founder Elizabeth Holmes sentenced to 11 years in prison
• Selfless visionary or scheming grifter? Theranos founder Elizabeth Holmes sentenced to 11 years in prison
• Elizabeth Homes apologises
• Elizabeth Holmes asks for leniency for her Theranos crimes
• Elizabeth Holmes trial: Everything you need to know about the Theranos founder

[17 November 2022 08:05 · Maroosha Muzaffar]

Good morning and welcome to The Independent’s liveblog on Elizabeth Holmes’ sentencing.

[17 November 2022 08:44 · Maroosha Muzaffar]

Prosecutors push 15-year sentence for Theranos' CEO Holmes

Federal prosecutors have asked a judge to sentence disgraced Theranos CE0 Elizabeth Holmes to 15 years in prison, arguing she deserves a lengthy prison term because her massive scheme duped investors out of hundreds of millions of dollars by falsely convincing them her company had developed a revolutionary blood testing device.

Calling the case “one of the most substantial white collar offenses Silicon Valley or any other District has seen,” prosecutors vehemently rejected defense attorneys’ characterization that Holmes had been unfairly victimized, in part by media coverage.

Read the full story here:

[17 November 2022 09:45 · Maroosha Muzaffar]

ICYMI: Elizabeth Holmes asks for leniency for her Theranos crimes

Disgraced Theranos CEO Elizabeth Holmes is casting herself as a Silicon Valley scapegoat who overcame an abusive relationship to become a loving mother in an effort to avoid a lengthy prison sentence for duping investors in her failed blood-testing company.

In an 82-page document filed late Thursday, Holmes’ lawyers tried to persuade U.S. District Judge Edward Davila that sending Holmes to prison is unnecessary, partly because she has already been stigmatized by intense media coverage that has turned her into a “caricature to be mocked and vilified.”

Read the full story here:

[17 November 2022 10:45 · Maroosha Muzaffar]

Elizabeth Holmes trial: Everything you need to know about the Theranos founder

Elizabeth Holmes was found guilty of defrauding investors in her former blood-testing startup company, Theranos, concluding a trial that gripped both Silicon Valley and the international media outlets which initially helped propel her to stardom.

She has now requested a new trial just weeks before she was set to be sentenced, claiming that one of the key witnesses has acknowledged regrets about the proceedings.

[17 November 2022 11:45 · Maroosha Muzaffar]

ICYMI: Elizabeth Holmes’ bid for new trial takes hit as key witness stands by original testimony

The sentencing of Theranos founder Elizabeth Holmes was delayed.

The decision was made by US District Judge Edward Davila, Mr Davida reviewed claims raised by Holmes’s attorneys that the prosecution allegedly engaged in misconduct by forcing a key witness in her initial trial to give testimony that made “everyone look bad.”

Read more about what happened here:

[17 November 2022 12:45 · Maroosha Muzaffar]

ICYMI: Judge declines to overturn Elizabeth Holmes guilty verdict

A federal judge, in September, tentatively declined to overturn the jury conviction of disgraced Theranos CEO Elizabeth Holmes on four felony counts of fraud and conspiracy. That leaves the former Silicon Valley star a step closer to serving prison time.

Read the full story here:

[17 November 2022 13:45 · Maroosha Muzaffar]

ICYMI: Elizabeth Holmes seeks new trial, cites key witness' regrets

Disgraced Theranos CEO Elizabeth Holmes requested a new trial earlier in September, asserting in a court filing that a key witness for the prosecution now regrets the role he played in her conviction for investor fraud and conspiracy related to her failed blood-testing startup.

Read the full story here:

[17 November 2022 14:45 · Maroosha Muzaffar]

Elizabeth Holmes trial: Everything you need to know about the Theranos founder

Elizabeth Holmes was found guilty of defrauding investors in her former blood-testing startup company, Theranos, concluding a trial that gripped both Silicon Valley and the international media outlets which initially helped propel her to stardom.

She has now requested a new trial just weeks before she was set to be sentenced, claiming that one of the key witnesses has acknowledged regrets about the proceedings.

[17 November 2022 15:45 · Oliver O'Connell]

How the Theranos founder was convicted of fraud and conspiracy

In January 2022, a jury found once-ascendant Silicon Valley star Elizabeth Holmes guilty of defrauding investors in her former blood-testing start-up company Theranos, which promised a revolutionary advancement in healthcare while raising millions of dollars.

Alex Woodward reported on the verdict.

[17 November 2022 16:45 · Oliver O'Connell]

Premium: Silicon Valley will never learn, even after Theranos founder’s conviction

Greed, fear, and desire are all alive and well in California. Tech entrepreneurs with a good sales pitch will always be able to part fools from their money, writes James Moore.