Theranos founder Elizabeth Holmes sentenced to more than 11 years in prison in fraud case – update

UPDATED 2.40pm: Theranos founder Elizabeth Holmes was sentenced to more than 11 years in prison after being convicted in January of fraud and conspiracy charges related to her company’s flawed blood-testing technology.

The sentence, handed down Friday by U.S. District Judge Edward Davila, includes three years of additional supervision after their release and a fine of $400-$100 for each count. Holmes was ordered to surrender himself into custody on April 27.

Amanda Seyfriend won an Emmy this year for her role as Holmes in the Hulu limited series The Fallout.

EARLY January 3: Theranos founder Elizabeth Holmes was found guilty today of four out of 11 charges related to her company’s failed blood-testing technology.

A jury in San Jose deliberated nearly 50 hours over seven days before finding the disgraced former CEO guilty of three counts of fraud and one count of conspiracy. Holmes was acquitted on four other counts and the jury was unable to reach a verdict on three other counts of fraud.

Holmes, 37, who has pleaded not guilty to all 11 charges and testified in court, faces a maximum sentence of 80 years – two decades per conviction – likely to be served concurrently. No sentencing date has been set, but a hearing is expected next week.

Holmes dropped out of Stanford University at the age of 19 and founded the now-defunct Theranos, claiming that his unprecedented technology could diagnose numerous diseases, including cancer, using only a few drops of human blood. By 2015, Silicon Valley had turned the young CEO into a short-lived billionaire as venture capitalists swarmed. But a statement in the Wall Street Journal That year began her rapid decline.

She was charged in 2018 and her trial began on August 31.

Holmes’ story, made for Hollywood, is the subject of some high-profile upcoming projects. Amanda Seyfried plays her the fallout, A Hulu limited series starting March 3rd. Jennifer Lawrence plays Holmes bad blood an upcoming Apple movie from director/co-writer Adam McKay (Don’t look up, The Big Short). The project originally started at Legendary in 2016, not long after WSJ report was published.

Holmes was there too The Inventor: Looking for Blood in Silicon Valley, A 2019 documentary film directed by Academy Award winner Alex Gibney. “People are fascinated by deception,” the filmmaker said at the time in an interview with Deadline.