Theranos Founder Elizabeth Holmes Sentenced

Elizabeth Holmes, the founder of Theranos, was sentenced to 11 years and 3 months in prison on Friday, November 18, 2022, for her role in a massive fraud scheme. The sentencing took place in a federal court in San Jose, California.

Holmes, 38, was convicted in January 2022 of defrauding investors and patients in a scheme that involved falsely claiming that Theranos had developed revolutionary blood-testing technology.

Theranos, founded in 2003, had once been valued at $9 billion. The company's technology was said to be able to run a wide range of laboratory tests from a single drop of blood.

Holmes' sentencing comes after a lengthy legal process. She was found guilty on four counts of fraud in January 2022. Her co-defendant, Ramesh