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Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison - Crime - Nairaland

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Theranos Founder Elizabeth Holmes Convicted Of Fraud / Fraud Trial Of Theranos Founder Elizabeth Holmes Opens In California / Okechukwu Desmond Amadi Sentenced To 11 Years In U.S Prison For Fraud (2) (3) (4)

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Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Mynd44: 6:33am On Nov 19, 2022
A California judge has sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at $9bn.

US District Judge Edward Davila in San Jose, California, sentenced Holmes on three counts of investor fraud and one count of conspiracy. A jury convicted Holmes, 38, in January following a trial that spanned three months.

The judge set Holmes’s surrender date for April. Her lawyers are expected to ask the judge to allow her to remain free on bail during her appeal.

Assistant US Attorney Jeff Schenk told the judge before he handed down the sentence that a 15-year sentence would be “making a statement that the ends don’t justify the means”.

But Holmes’ lawyer Kevin Downey urged leniency for Holmes at the hearing, saying that unlike someone who committed a “great crime”, she was not motivated by greed.

Holmes had asked in court papers for a more lenient sentence of 18 months of home confinement, followed by community service, urging the judge not to make her a “martyr to public passion”.

Misrepresenting claims:
Prosecutors said at trial that Holmes misrepresented Theranos’s technology and finances, including by claiming that its miniaturised blood testing machine was able to run an array of tests from a few drops of blood. The company secretly relied on conventional machines from other companies to run patients’ tests, prosecutors said.

Ahead of her sentencing, prosecutors had said a 15-year sentence was necessary to deter Holmes and others from fraud.

Her crimes “damaged the trust and integrity” on which Silicon Valley’s startup economy relies, they said.

The federal probation office had recommended a nine-year prison sentence, according to court papers.

Once valued at $9bn, Theranos Inc promised to revolutionise how patients receive diagnoses by replacing traditional labs with small machines envisioned for use in homes, drugstores and even on the battlefield.


Forbes dubbed Holmes the world’s youngest female self-made billionaire in 2014 when she was 30 and her stake in Theranos was worth $4.5bn.

But the startup collapsed after a series of articles in the Wall Street Journal in 2015 questioned its technology.

At trial, prosecutors said Holmes engaged in fraud by lying to investors about Theranos’s technology and finances rather than allowing the company to fail.

Holmes testified in her own defence, saying she believed her statements were accurate at the time.

Though she was convicted on four counts, Holmes was acquitted on four other counts alleging she defrauded patients who paid for Theranos tests.

Davila had denied Holmes’s requests to overturn her convictions, saying they were supported by the evidence at trial.

Now that the sentence has been imposed, Holmes can challenge those rulings and her sentence at the 9th US Circuit Court of Appeals.
https://www.aljazeera.com/economy/2022/11/18/elizabeth-holmes-sentenced-to-more-than-11-years-in-prison

1 Like

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by kambili999(f): 6:36am On Nov 19, 2022
Jeez. Wonder whT people gain cheating other people. Contentment is a virtue. If you are contented, you don't know what God has done for you

115 Likes 5 Shares

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Donchieli: 6:37am On Nov 19, 2022
Ewo
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by frubben(m): 6:37am On Nov 19, 2022
Shellock Holmes will burst her out.



Trust me grin

24 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Discountsempai: 6:37am On Nov 19, 2022
She lied and so she got her just rewards.

At the end, she preyed on the hopes of a lot of people....to get more money.

9 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Disclaimer12: 6:38am On Nov 19, 2022
Am I the only one who doesn't know her and do not give a F about her nor her imprisonment? Anyways we all have been living like prisoners in Nigeria and a time like this call for sober reflection while channeling your anger to the polling booth! It's time for us to jettison the status quo and vote irrespective of religion or tribe ! Let's get it right this time ! Do help us God

60 Likes 1 Share

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by talk2hb1(m): 6:38am On Nov 19, 2022
11years not much

1 Like

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by calculator123(m): 6:38am On Nov 19, 2022
Female SBF

8 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by BaddestQueen(f): 6:38am On Nov 19, 2022
oyibo ponzi

10 Likes 1 Share

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Jesuschristus: 6:38am On Nov 19, 2022
This is the problem of packaging rubbish,peter obi and TInubu

2 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Toratora: 6:38am On Nov 19, 2022
shocked

1 Like

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by fixitbyjal(m): 6:38am On Nov 19, 2022
Come in for your iphone swap
Lagos deals only

1 Like 2 Shares

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Falseprofet2: 6:38am On Nov 19, 2022
cool
Do the crime do the time
Anna Delvey
Bamise and wife
Zaram Ezinma
Gloria Ossei
Ovaioza

Its the year of the woman fraud

I see more Ponzi next year i see more people allowing themselves to be duped

5 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by ShoeWorld2(m): 6:39am On Nov 19, 2022
undecided
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Houseofglam7(f): 6:39am On Nov 19, 2022
cheesy
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by imokings: 6:39am On Nov 19, 2022
This I serious
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by PlayerMeji: 6:39am On Nov 19, 2022
Things that can't happen in Nigeria...

If it's Nigeria, the articles written in Wall Street journals would have been tribalized and given ethnic coloration

29 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Discountsempai: 6:39am On Nov 19, 2022
talk2hb1:
11years not much

It is what their law allows. If people want it changed...they can write to their local senator to get the laws changed.
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Ekejoestar(m): 6:39am On Nov 19, 2022
I was shocked when I heard this woman's story, omoo this one pass hushpuppy level ooo

19 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Discountsempai: 6:40am On Nov 19, 2022
Jesuschristus:
This is the problem of packaging rubbish,peter obi and TInubu

Discuss politics in the politics section, thank you.

6 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by HardMirror(m): 6:40am On Nov 19, 2022
Sam Bankman-Fried soon to follow. Used FTX to steal billions of dollars. Elizabeth Holmes dey learn work where sbf dey.

23 Likes 2 Shares

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Inali: 6:40am On Nov 19, 2022
I honestly don't know how to feel cos this investor funds is what a young startup founder is looking at accessing and someone just defrauded them.

Anyway, get the best oraimo earbuds and enjoy quality sounds

3 Likes 1 Share

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Nobody: 6:40am On Nov 19, 2022
I did not understand the heading.

So I opened the thread to check if she's related to Sherlock Holmes.

2 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Daneguakhi(m): 6:40am On Nov 19, 2022
How this babe managed to mekwe well and carry belle in the midst of all this wahala that she is facing, lol.
OR
Maybe the pregnancy is a ploy to do argumentum ad misericordiam, an appeal to pity.
either way, this Theranos Issue is a perfect case study that not all investment glitters is gold returns, it could be a sham, DYOR well well

17 Likes 1 Share

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by AlfaSeltzer(m): 6:40am On Nov 19, 2022
greed scaming greed.
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by kennyz247(m): 6:41am On Nov 19, 2022
ok
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by nairalee(m): 6:41am On Nov 19, 2022
While Sherlock Holmes was busy solving crimes, Elizabeth Holmes was establishing crimes.

That's woman empowerment

18 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by Falseprofet2: 6:41am On Nov 19, 2022

1 Like 1 Share

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by chrisxxx(m): 6:41am On Nov 19, 2022
Is this not same machine some persons have been moving from church to church?
Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by sukkot: 6:42am On Nov 19, 2022
shocked SHE GOT THE SAME TIME AS HUSHPUPPY

14 Likes

Re: Theranos: Elizabeth Holmes Sentenced To More Than 11 Years In Prison by HardMirror(m): 6:42am On Nov 19, 2022
Daneguakhi:
How this babe managed to carry belle in the midst of all this wahala that she is facing, lol.
O
that lady is dangerous she would do anything to manipulate people. She got pregnant so she would get sympathy

29 Likes

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