Elizabeth Holmes was sentenced to 11 years and three months in prison on Friday, the New York Times reports. She was previously found guilty on four of 11 counts of fraud and conspiracy at her biotech start-up, Theranos, which falsely claimed it could test blood with just a few drops. Judge Edward J. Davila sentenced Holmes to three years of supervision after her release from prison. She must begin serving time on April 27, 2023. According to NBC Bay Area, that deadline means that Holmes, who is currently pregnant with her second child, should have time to give birth before entering custody.
Holmes appeared in court for the sentencing with friends and family, including her partner, Billy Evans. “I am devastated by my failings,” she reportedly said in a tearful statement to the judge. “I have felt deep pain for what people went through because I failed them.” After apologizing to investors, patients, and employees, she went on to invoke the poet Rumi, stating, “Yesterday I tried to change the world. Today I’m wise, and want to change myself.” Ironically, the quote’s authenticity has been contested.
Holmes was facing a maximum prison time of 20 years, though her lawyers had asked for 18 months of house arrest. Prosecutors urged Judge Davila to consider that a long sentence in this high-profile trial could “deter future start-up fraud schemes.” The rise and fall of Theranos, which was later depicted in Hulu’s The Dropout, has captivated Silicon Valley and the world for the past few years. Holmes and her business partner, Ramesh “Sunny” Balwani,” were indicted on fraud charges in 2018, three years after The Wall Street Journal exposed the company’s deception with the help of whistleblowers. Balwani has since been found guilty of 12 counts of fraud, and is set to to be sentenced on December 7.
