Estranged Theranos Founder Elizabeth Holmes to Be sentenced for 11 Years In Imprisonment.

Elizabeth Holmes to sentenced for 11 Years
Image credit - Martin E. Klimek/USA Today Network/Sipa USA/Via New York Post

Elizabeth Holmes sentenced for 11 Years in imprisonment for fraud and for duping investors’ money. Elizabeth Homes become a famous name in Silicon Valley overnight after a big fraud got uncovered by the reporter of Wall Street Journal after a decade long track down in 2015 in Elizabeth’s company called “THERANOS”.

A Stanford University dropout decided to start an ultra-modern blood testing startup at the age of 19 in 2008. Where you can do all your blood tests in a few drops of blood. The idea was amazing to hear and interesting for investors but something was fishy which turned out to be a disaster for investors.

Investors got impressed with her idea of getting multiple blood tests done in less than ml of blood and invested vigorously in her start up. In no time her start up Theranos grow into billion dollar company, that is total valuation reaching $9 billion and Holmes become one of the youngest billionaires in the world and a tech sensation in Silicon Valley.

Theranos got funding from people like Murdoch, Oracle founder Larry Ellison, the Walton family, and many more big names included. Funding from these people makes this start up look more authentic.  

As per the news published in CNN Judge Edward Davila sentenced her to 11 years in prison followed by 3 years in supervision plus a fine after hearing the argument of both sides and taking all the letters of leniency on notice.

While Holmes in her statement in court apologizes to all the employees and investors as she wasn’t able to deliver what was promised. She also took responsibility for Theranos’ disaster. Elizabeth accused her then boyfriend Sunny of everything wrong that happened in Theranos. She further added she was younger then and Sunny was the one who was handling all the operations and finances.

Her ex-boyfriend and former Theranos president Ramesh “Sunny” Balwani will soon undergo court trials for several charges of fraud as reported in the New York Post.

Some people accused Elizabeth Holmes of blindly copying Steve Jobs to show that she is inventing something larger than life technology. But it was just to become famous and she was not an inventor and she never had any technology.



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