{"id":24663,"date":"2023-06-01T13:24:05","date_gmt":"2023-06-01T12:24:05","guid":{"rendered":"https:\/\/nkyeremunews.com\/?p=24663"},"modified":"2023-06-01T13:24:05","modified_gmt":"2023-06-01T12:24:05","slug":"elizabeth-holmes-is-sentenced-to-more-than-11-years-for-fraud","status":"publish","type":"post","link":"https:\/\/nkyeremunews.com\/index.php\/2023\/06\/01\/elizabeth-holmes-is-sentenced-to-more-than-11-years-for-fraud\/","title":{"rendered":"Elizabeth Holmes Is Sentenced To More Than 11 Years For Fraud"},"content":{"rendered":"
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Elizabeth Holmes, the founder of the failed blood-testing start-up Theranos, was sentenced to more than 11 years in prison on Friday for defrauding investors about her company\u2019s technology and business dealings.<\/p>\n

The sentence capped a years long saga that has captivated the public and ignited debates about Silicon Valley\u2019s culture of hype and exaggeration. Ms. Holmes, who raised $945 million for Theranos and promised that the start-up would revolutionize health care with tests that required just a few drops of blood, was convicted in January of\u00a0four counts of fraud\u00a0for deceiving investors with those claims, which turned out not to be true.<\/p>\n

Judge Edward J. Davila of the U.S. District Court for the Northern District of California sentenced Ms. Holmes to 135 months in prison, which is slightly more than 11 years, followed by three years of supervised release. Ms. Holmes, 38, who plans to appeal, must surrender to custody on April 27, 2023.<\/p>\n

In the courtroom on Friday, Ms. Holmes \u2014 who appeared with a large group of friends and family, including her parents and her partner, Billy Evans \u2014 cried when she read a statement to the judge.<\/p>\n<\/div>\n