A federal judge has sentenced disgraced Theranos CEO Elizabeth Holmes to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing.
Her lawyers argued that Holmes was a well-meaning entrepreneur who is now a devoted mother. Their viewpoints were supported by more than 130 letters submitted by family, friends and former colleagues praising Holmes.
While wooing investors, Holmes leveraged a high-powered Theranos board that included former Defense Secretary James Mattis, who testified against her during her trial, and two former secretaries of state, Henry Kissinger and the late George Shultz, whose son, Alexander submitted a statement blasting Holmes for concocting a scheme that played Shultz "for the fool."
If Holmes' pregnancy had a role in determining her sentence, the decision could prove controversial. A 2019 study found that more than 1,000 pregnant women entered federal or state prisons over a 12-month study period; 753 of them gave birth in custody. Federal prosecutor Robert Leach described the Theranos scam as one of the most egregious white-collar crimes ever committed in Silicon Valley. In a scathing 46-page memo, Leach urged the judge to send a message to curb the hubris and hyperbole unleashed by the tech boom of the last 30 years.'Can't fraud it until you make it': Bay Area experts weigh in on Elizabeth Holmes conviction
Holmes lawyers painted her as a selfless visionary who spent 14 years trying to revolutionize health care. They asserted that Holmes never stopped trying to perfect the technology until Theranos collapsed in 2018.
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