2023-07-11 11:27:00
Fallen tech billionaire Elizabeth Holmes has only nine years left in jail. That is two years less than the sentence she received at the end of last year for misleading investors and customers.
This has been confirmed by the US judiciary. Holmes has been incarcerated since May this year and will remain in prison until the end of 2032.
It is unclear why her sentence was shortened. Good behavior might be a reason for that.
The once celebrated businesswoman was sentenced in November 2022 to more than eleven years in prison for fraud. Holmes built her start-up Theranos into a billion-dollar company. But according to the judge, she did it by defrauding investors out of hundreds of millions of dollars and putting patients at risk.
Holmes promised a revolution in healthcare with her blood test company Theranos. According to her, a new technique would make it easy to conduct two hundred tests with a single drop of blood. This might detect serious illnesses. Normally, one test requires an entire vial of blood.
But the tech behind Theranos turned out not to be real at all. Moreover, results often turned out to be incorrect.
Holmes’ business partner and ex-lover Ramesh “Sunny” Balwani was sentenced to 13 years in prison last year. He also received a two-year sentence.
1689075002
#Prison #sentence #mega #fraudster #Elizabeth #Holmes #shortened #years #Economy