'I regret my failings with every cell of my body,' Theranos founder Elizabeth Holmes has said, as she was jailed for her fraudulent blood test start-up
A federal judge has sentenced disgraced Theranos chief executive Elizabeth Holmes to more than 11 years in prison for duping investors in the failed start-up that promised to revolutionise blood testing but instead made her a symbol of Silicon Valley’s culture of audacious self-promotion.
Holmes, 38, faced a maximum of 20 years, but her legal team asked the judge for a sentence of no more than 18 months, preferably served in home confinement. While wooing investors, Holmes leveraged a high-powered Theranos board that included former defence secretary James Mattis, who gave evidence against her during her trial, and two former secretaries of state, Henry Kissinger and the late George Shultz, whose son submitted a statement condemning Holmes for concocting a scheme that played Mr Shultz “for the fool”.
According to a 2016 survey by the Bureau of Justice Statistics, more than half of women entering federal prison – 58% – reported being mothers of minor children. Holmes “preyed on hopes of her investors that a young, dynamic entrepreneur had changed health care”, Mr Leach wrote. “And through her deceit, she attained spectacular fame, adoration and billions of dollars of wealth.”Even though Holmes was acquitted by a jury on four counts of fraud and conspiracy tied to patients who took Theranos blood tests, Mr Leach also asked Judge Davila to factor in the health threats posed by Holmes’ conduct.
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