Elizabeth Holmes sentenced to more than 11 years in prison for fraud

15 days ago NBC2 News

CNN — Elizabeth Holmes was sentenced to more than 11 years in prison on Friday following her conviction in January for defrauding investors while running the failed blood-testing startup, Theranos. Lawyers for the government asked for a 15-year prison term, as well as probation and restitution, while Holmes’ probation officer pushed for a nine-year term. “The effects of Holmes and Balwani’s fraudulent conduct were far-reaching and severe,” federal prosecutors wrote in a November court filing regarding Holmes’ sentencing. The list includes Holmes’ partner, Billy Evans, many members of Holmes’ and Evans’ families, early Theranos investor Tim Draper, and Sen. Cory Booker. “Elizabeth Holmes is never going to run a big company again,” he said.
Continue reading...

Read On "NBC2 News"
More News On "NBC2 News"