NAYZE MEDIA (STAFF)
COURT: SAN JOSE, C.A.
Photo Courtesy: CNN
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Former Theranos CEO, Elizabeth Holmes was sentenced to 135 months in a federal courtroom in San Jose, California on Friday. A report from The Associated Press said Holmes was sentenced by U.S. District Judge Edward Davila, who called Holmes’ actions “troubling”.
“This case is so troubling on so many levels. What was it that caused Ms. Holmes to make the decisions she did? Was there a loss of a moral compass?” Judge Davila asked before sentencing Holmes to more than 11-years behind bars.
Davilla sentenced Holmes to less than the 15-year prison sentence requested by federal prosecutors. Holmes had been facing a maximum prison sentence of 20-years. Her lawyers had requested 18-months in prison for Holmes.
Holmes, who had been CEO of Theranos throughout its 15-years in existence, had been accused of bilking investors out of million of dollars by claiming to have developed a medical device that could detect a multitude of diseases and conditions from just a few drops of blood. The Feds said the technology claimed by Theranos never worked, and the claims that Theranos could invent such a device, were completely false.
Theranos’ alleged device catapulted CEO Holmes to superstar status in the business world. One magazine hailed Holmes as “the next Steve Jobs”. The attention helped Theranos gain big-time investors, including software magnate Larry Ellison, media mogul Rupert Murdoch, and the Walton family who owns Wal-Mart.
Holmes reportedly sobbed in the courtroom as she told the judge she accepted responsibility for her actions.
“I regret my failings with every cell of my body.” Holmes said, before promising Judge Davilla that she would devote the rest of her life to helping others.