Theranos: Elizabeth Holmes sentenced to 11.25 years

[red-beard]

https://www.wsj.com/livecoverage/elizabeth-holmes-sentencing-theranos-trial?mod=hp_lead_pos1

SAN JOSE, Calif.—Elizabeth Holmes, the founder of Theranos Inc. convicted of fraud, was sentenced to 135 months, or 11.25 years, in prison, capping the extraordinary downfall of a one-time Silicon Valley wunderkind.

U.S. District Judge Edward Davila, who oversaw the monthslong trial in which Ms. Holmes was convicted of running a yearslong fraud scheme at her blood-testing company, delivered the sentence Friday in federal court.

A jury convicted Ms. Holmes in January on four charges that she misrepresented the startup’s technology, finances and business prospects to investors.

Ms. Holmes had sought home confinement and community service, and no more than 18 months in prison. Her lawyers, in their request for leniency, positioned the 38-year-old as a caring friend and loving mother with a toddler at home and a second child on the way, whose incarceration would only prove detrimental to her family and community.

The defense submitted more than 140 letters from Ms. Holmes’s family and supporters that aimed to portray her as a caring friend, selfless servant, devoted mother and brilliant mind.

Jeffrey Pfeffer, a Stanford University professor friend of Ms. Holmes’s father, cautioned the judge that a jail term wouldn’t serve “any useful social purpose. On the contrary, it will put a talented person behind bars, separating her from her child and her family.”

Ms. Holmes founded and ran Theranos as chief executive for close to 15 years, touting a technology solution to revolutionize the blood-testing industry. The case was one of the most high-profile criminal fraud trials in years amid a decadeslong decline in white-collar prosecutions.

[Rick Lee]

She should spend life in SuperMax. Eff her.

[Bill Douglas]

Out in six years?

[Rick Lee]

No. Federal does at least 85% of the sentence. I doubt Brandon will pardon her.

[Chocaholic]

Depends on how much she donated...and to whom.

[jyl]

SBF next!

[pwd72s]

Originally Posted by Rick Lee

No. Federal does at least 85% of the sentence. I doubt Brandon will pardon her.

He would if there's enough money involved.

[Rick Lee]

SBF has too much dirt on the regime. He'll get Seth Rich'ed or, at best, allowed to stay outside US law enforcement's reach abroad.

[A930Rocket]

How does her crime compared to Mr. FTX’s crime in dollars? They should have to pay everything back or a year for every dollar scammed

[craigster59]

I worked a bit on the mini series about her "The Dropout". She was not a nice lady. A sentence well deserved.

https://www.imdb.com/title/tt10166622/?ref_=nv_sr_srsg_0

[URY914]

She also happen to be pregnant.

[L8Brakr]

She definitely deserves to do the time. But yet.........no Sacklers are going to prison...

[flatbutt]

Originally Posted by URY914

She also happen to be pregnant.

She probably got preggers in the hope that it would save her from hard time.

[The Synergizer]

Probably will work too.

[GH85Carrera]

Originally Posted by A930Rocket

How does her crime compared to Mr. FTX’s crime in dollars? They should have to pay everything back or a year for every dollar scammed

One major difference, her scam was a health care scam. People trusted her product to test their blood and then make decisions about how to proceed with their life or death health care choices.
She likely hastened the deaths of some people.

[sugarwood]

She has 14 days to appeal.

[speedster911]

If local news is accurate and I heard correctly, she doesn't need to report until April. Has her kid and then goes to jail? Out in two years for good behavior? and pleads hardship due to her kids?

Sounds like the scammer continues to scam.

[sc_rufctr]

11.25 years is light for what she did... And no doubt she has a stash of money hidden away.

[URY914]

Originally Posted by GH85Carrera

One major difference, her scam was a health care scam. People trusted her product to test their blood and then make decisions about how to proceed with their life or death health care choices.
She likely hastened the deaths of some people.

This indeed happened in several cases.

[GH85Carrera]

Originally Posted by speedster911

If local news is accurate and I heard correctly, she doesn't need to report until April. Has her kid and then goes to jail? Out in two years for good behavior? and pleads hardship due to her kids?

Sounds like the scammer continues to scam.

She is not going to a "grey bar hotel" like the movies with constant fights and gang life. It will be a minimum security federal prison. No gangs and shivs to worry about. More like a dorm room. It is indeed a prison, as she has to be in a certain bed by light out, or risk going to a real prison.

She deserves many more years than she received. She knowingly sold a medical product that people used to make life and death decisions and many died from her bogus information. It was a total non functional product with a fancy box and slick sales pitch. Worse than Hadicol! At least Hadicol was not deadly.

https://en.wikipedia.org/wiki/Hadacol