Just Earth News | @justearthnews | 18 Nov 2022, 08:46 pm Print
Elizabeth Holmes Wikipedia Commons
Washington: Theranos founder Elizabeth Holmes was sentenced for more than 11 years in prison for defrauding investors while running the failed blood testing startup.
The startup had once valued USD 9 bn.
Judge Edward Davila imposed a sentence of 11 years and three months in prison, with another three years of supervision after Holmes is released, reports CNN.
The sentence also includes a fine of $400, or $100 for each count of fraud. Restitution will be set at a later date. Holmes was ordered to turn herself into custody on April 27, 2023. She is expected to appeal her conviction, the American newschannel reported.
Holmes faced up to 20 years in prison and a fine of $250,000 plus restitution for each count.
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