![]() ![]() District Court Judge Edward Davila, who presided over Holmes' trial, handed down the sentence. In July, Balwani, who was romantically involved with Holmes years earlier, was found guilty of 12 criminal fraud charges. Prosecutors sought a 15 year sentence for the pregnant 38-year-old former billionaire and Silicon Valley celebrity. "I have felt deep pain for what people went through because I failed them. Thank you for the courtesy and respect you have shown me," she said Friday. Once valued at $9 billion by private investors, Theranos shut down in 2018. Whistleblowers and other witnesses came forth to provide detailed accounts of how Holmes and former operating chief Ramesh "Sunny" Balwani deceived patients, partners, investors and employees about the company's progress and the capabilities of its technology. The Wall Street Journal first broke the story of how Theranos' blood-testing technology was struggling to meet expectations in 2015. Instead, she was given 135 months, which amounts to 11 years and three months, behind bars. Her defense team argued she should face a maximum sentence of 18 months, according to court filings. I gave everything I had to build my company." ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Davila, who scolded Holmes for betraying Silicon Valley's history of innovation when he sentenced her in November, subsequently rejected that request.ĭavila had recommended Holmes be incarcerated at a low-security prison camp in Bryan, Texas, but it has not been publicly disclosed if that is where she has been assigned to serve her sentence.Best Debt Consolidation Loans for Bad Credit Holmes, 38, last appeared in court about a month ago, shortly after giving birth to her second child in an attempt to persuade Davila to allow her to remain free while she appeals her conviction. ![]() The claims helped the company become a Silicon Valley sensation that raised nearly $1 billion from investors. RELATED: Elizabeth Holmes must report to prison this month while waiting out her appeal, judge rulesīalwani, 57, is now serving a nearly 13-year prison sentence in a federal prison located in San Pedro, California after being convicted of 12 counts of fraud and conspiracy.Īlthough they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos' blood-testing system as a revolutionary breakthrough in health care. After the Ninth Circuit rejected his appeal three weeks later, Davila set a new reporting date of April 20. The tactic deployed by Holmes mirrored a move made last month by her former lover and subordinate, Ramesh "Sunny" Balwani, to avoid a prison reporting date of March 16. The appeal, filed with the Ninth Circuit Court of Appeals late Tuesday, automatically delays her reporting date because she has been free on bail since a jury convicted her on four counts of fraud and conspiracy in January following a four-month trial revolving around her downfall from a rising Silicon Valley star to an alleged scam artist chasing fame and fortune while fleecing investors and endangering the health of patients relying on Theranos' flawed blood tests. District Judge Edward Davila that she won't be reporting to prison as scheduled because she had filed an appeal of a decision that he issued earlier this month ordering her to begin her sentence on April 27. Holmes' lawyers on Wednesday informed U.S. SAN FRANCISCO - Disgraced Theranos CEO Elizabeth Holmes has avoided starting her more than 11-year prison sentence on Thursday by deploying the same legal maneuver that enabled her co-conspirator in a blood-testing hoax to remain free for an additional month. Elizabeth Holmes' sentence is more than 11 years in the blood-testing hoax involving Theranos.
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