Home 5 News 5 Theranos in Court: Holmes Sentenced to 11 Years Behind Bars

Theranos in Court: Holmes Sentenced to 11 Years Behind Bars

by | Nov 23, 2022 | News

After delays in sentencing and attempts by her legal team to win a mistrial, Holmes was sentenced last week for her role in defrauding investors of millions.

Despite attempts by her legal team to win a mistrial due to possible witness tampering and delays in sentencing, former Theranos chief executive officer Elizabeth Holmes was sentenced on Nov. 18 to a prison term of 11 years and three months, followed by three years of supervised release, for her role in defrauding investors in her blood testing company, according to the U.S. Attorney’s Office of the Northern District of California.

While no fine was assessed as part of the sentencing by U.S. District Judge Edward Davila, “the parties were instructed to meet and agree on a future date for a hearing to determine the restitution amount to be paid by Holmes,” according to the Northern District of California Attorney’s Office.

Holmes, who has a young son with her current partner, Billy Evans, and, according to media reports, is currently pregnant with her second child, will need to surrender herself to the authorities on April 27, 2023, to begin her prison time. However, it’s expected she will appeal the sentence, thus delaying the start of her prison term.

Holmes was convicted of four counts of fraud in January, each carrying a prison sentence of up to 20 years. While Holmes was found not guilty on seven of the 11 charges she faced, her former business partner and lover, Ramesh “Sunny” Balwani, was convicted of all the charges he faced—10 counts of wire fraud and two counts of conspiracy—in July for his role in the fraud scheme. He is scheduled to have his sentencing hearing on Dec. 7. Look for more analysis on the Holmes sentencing decision in an upcoming issue of National Lab Reporter.

Related Posts