Elizabeth Holmes, the founder of Theranos, was given an 11 years and three months jail sentence on Friday by a federal judge for cheating investors in her now-defunct blood-testing firm, which had a $9 billion valuation at one point.
After a jury found Holmes, 38, guilty of three counts of investor fraud and one count of conspiracy last January after a three-month trial, U.S. District Judge Edward Davila sentenced her in San Jose, California. The defence wanted the judge to impose no prison term, while the prosecution had asked for a sentence of 15 years in jail.
Holmes, who was wearing a dark top and a black skirt, embraced her partner and parents when the verdict was announced.
Holmes sobbed as she said she was “devastated” by her mistakes and would have made many other decisions if she had the chance during the sentence hearing.
As a result of my failures, I have experienced great humiliation, Holmes admitted.
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