Elizabeth Holmes sentencing live: Theranos founder to face restitution hearing after being jailed for 11 years
The jury finds Elizabeth Holmes guilty of fraud
Theranos founder Elizabeth Homes has been sentenced to more than 1[ads1]1 years in prison for defrauding investors in the blood-testing startup.
Holmes, who plans to appeal, will not have to report for his 135-month prison sentence until April 2023, the judge announced during the hearing.
“I am devastated by my mistakes,” a heavily pregnant Holmes said in a tearful apology in the courtroom.
“I’ve felt deep pain for what people went through, because I let them down.”
Prosecutors had asked Judge Edward Davila to sentence Holmes to 15 years in prison and that she pay $800 million in restitution for her role in the company’s fraudulent claims.
Holmes’ lawyers cast her as a scapegoat who overcame a toxic relationship with Therano COO Ramesh “Sunny” Balwani to become a loving mother.
Holmes was convicted in January of three felony counts of fraud and one count of conspiracy to commit fraud.
Judge Davila said he would schedule a restitution hearing to determine how much Holmes must pay back at a later date.
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos CEO: “Failure is normal. But failure by fraud is not okay.’
Bevan Hurley19 November 2022 at 1 p.m
Holmes admits responsibility for Therano’s failure in tearful courtroom apology
“I am devastated by my mistakes. I have felt deep pain for what people went through, because I failed them, Elizabeth Holmes told the judge through tears.
It was the first time Holmes took responsibility for the Theranos failure.
Elizabeth Holmes speaks on stage during the closing session of the 2015 Clinton Global Initiative
(Getty)
Bevan Hurley19 November 2022 at 12.00
Devastating victim impact statement from the whistleblower’s father
Alex Schultz, the father of Theranos whistleblower Tyler, read a victim statement to say Holmes had taken a “wrecking ball” to his family.
He looked directly at Elizabeth Holmes as he said that Tyler had feared for his life after she hired private investigators to pry into his life.
“My son slept with a knife under his pillow every night thinking someone was going to come and kill him.”
Schultz is the son of former Secretary of State George Schultz, who was an early Theranos backer.
Bevan Hurley19 November 2022 at 11 a.m
Selfless visionary or penetrating grasper?
But for her many advocates and critics, Friday’s sentence is unlikely to end the debate over whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deception over transparency.”
Bevan Hurley19 November 2022 at 10.00
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos CEO: “Failure is normal. But failure by fraud is not okay.’
Bevan Hurley19 November 2022 at 09.00
The judge says the tragedy of the case is that Holmes was ‘brilliant’
Before sentencing Holmes to 11 years and three months in prison, Judge Edward Davila described the case as “so disturbing on so many levels”.
“The tragedy of this case is that Ms Holmes is brilliant, she had creative ideas. She is a great thinker. She moved into an industry dominated by, let’s face it, male ego. She entered that world.”
Former Theranos CEO Elizabeth Holmes (C) arrives in federal court with her partner Billy Evans (R) and her mother Noel Holmes on November 18, 2022 in San Jose, California
(Getty Images)
Bevan Hurley19 November 2022 at 08.00
Elizabeth Holmes bypasses the media, exits the courthouse via a side entrance
With dozens of cameras trained on the main entrance of the federal courthouse in San Jose after her sentencing, Elizabeth Holmes emerged from a side entrance.
She must report to the Correctional Service to begin her 11-year sentence in April.
(EPA)
Bevan Hurley19 November 2022 at 07.00
Wall Street Journal reporter comments on Holmes verdict
John Carreyrou, whose reporting on The Wall Street Journal exposed problems at Theranos, was in court to see Holmes sentenced.
In comments outside the Courthouse it says Bad blood The author said the sentence was “stiff” but appropriate given Holmes had put patients at risk.
Bevan Hurley19 November 2022 at 06.00
Selfless visionary or penetrating grasper?
But for her many advocates and critics, Friday’s sentence is unlikely to end the debate over whether Holmes was a well-intentioned humanitarian who got in over her head, or a charlatan in a turtleneck sweater who chose “deception over transparency.”
Bevan Hurley19 November 2022 at 05.00
Theranos founder Elizabeth Holmes sentenced to 11 years in prison
Judge Edward Davila told the heavily pregnant former Theranos CEO: “Failure is normal. But failure by fraud is not okay.’
Bevan Hurley19 November 2022 04:00
