Theranos founder Elizabeth Holmes sentenced
to 11 years in prison for fraud
New York Post,
by
Ariel Zilber
Original Article
Posted By: zephyrgirl,
11/19/2022 8:17:26 AM
Elizabeth Holmes, the disgraced Theranos founder who was once compared to Steve Jobs before she was convicted of defrauding investors who backed the now-defunct blood-testing company, was sentenced to more than 11 years in prison on Friday. The pregnant Holmes, dressed in a dark blouse and black skirt, was given 135 months behind bars by US District Judge Edward Davila in the same San Jose, Calif., courtroom where a jury convicted her on four counts of investor fraud and conspiracy in January.
Reply 1 - Posted by:
Bur Oak 11/19/2022 8:53:39 AM (No. 1337497)
She'll be out in six years.
15 people like this.
Reply 2 - Posted by:
VAPMAN 11/19/2022 8:55:56 AM (No. 1337505)
She was a fraud from the start. There never were any scientific discoveries to back up what she claimed to be able to do. Yet she was able to enrich herself with billions of investment from celebrity rich people who fell for her crap. She ought to get together with the crypto FTX fraud and compare notes.
22 people like this.
Reply 3 - Posted by:
winmag 11/19/2022 9:07:35 AM (No. 1337515)
Surprised an Obama supporter got any jail time.
20 people like this.
Reply 4 - Posted by:
padiva 11/19/2022 9:07:43 AM (No. 1337516)
Making babies doesn't keep you out of prison.
Ya gotta love the women's liberation movement!
I wonder what will happen to her business partner....
10 people like this.
Reply 5 - Posted by:
konocti95 11/19/2022 9:21:51 AM (No. 1337527)
18 months on an ankle monitor at home.... sure! Why not? It's not like she's some mid-west grandmother who went to Washington DC for the weekend.
16 people like this.
Reply 6 - Posted by:
janjan 11/19/2022 9:31:38 AM (No. 1337535)
She got 11 years because of the high powered people she defrauded. If her victims had been regular Americans she’d be out on probation.
15 people like this.
Reply 7 - Posted by:
Sully 11/19/2022 9:44:03 AM (No. 1337547)
Hmmm. Pregnant. Did she take the test in public with her own invented device? Could there be a fat suit involved? Just being thorough...
11 people like this.
Reply 8 - Posted by:
Dodge Boy 11/19/2022 9:51:11 AM (No. 1337554)
Imagine what it will be like when Holme's kids are in school and their friends start asking questions -
1. Where does your mom live? The joint.
2. How big is her house at the joint? 8 ft. x 8 ft.
3. What does she do for a living? Nothing now. Before she cheated people out of billions of dollars.
4. Why does she wear the same clothes every day? It's all they have.
5. Where do you live? The joint.
6. Can I come over and play with you? Not sure. The joint closes at 5.
Holmes deserves every day in the joint.
12 people like this.
Reply 9 - Posted by:
DVC 11/19/2022 9:59:05 AM (No. 1337569)
I agree with OP on this evil scammer.
11 people like this.
Reply 10 - Posted by:
SkeezerMcGee 11/19/2022 10:04:34 AM (No. 1337583)
Poor Elizabeth. She lives like Marie Antionette in an opulent mansion, but it's predicted that she will never be able to pay any restitution. She will probably serve less than 6 years and thereafter live a life of luxury.
The judge actually said, “This is a fraud case where an EXCITING VENTURE went forward with great expectations only to be dashed by untruths, misrepresentations, plain hubris and lies,” An exciting adventure?!!!
When Holmes was a freshman at Stanford, a tenured Stanford professor (and medical doctor expert regarding blood testing) advised Holmes that it is impossible to use a few drops of blood to diagnose diseases. This professor, and apparently no individual employed by, or otherwise associated with, any entity that annually performs millions of blood tests, blew any whistle. Why? Because lawyers retained by Theranos - by terrifying letters - threatened to sue any such whistle blower into bankruptcy. A grandson of former Secretary of State, George Schultz, was employed by Theranos, whereby he discovered Holmes' ongoing fraud. Schultz's grandson received such a letter, whereby he was traumatized. In spite of his fear, the grandson courageously blew the whistle.
15 people like this.
Reply 11 - Posted by:
PeteRieck 11/19/2022 10:07:05 AM (No. 1337590)
Having watched an expose' and read the book, I am really struggling to understand how supposedly intelligent investor-guru types were sucked in. Her professor smelled a rat right up front in the early days. The "box" looked like something Mr Rogers and kids would make out of a shoe box to pretend. "Just insert a drop and Viola'! out comes a comprehensive report of all of a patient's ills" Not even a basic explanation of the mechanics of "how" it worked, just that "trust us, it works!" Maybe I am just naive or pessimistic.
15 people like this.
Reply 12 - Posted by:
marbles 11/19/2022 10:22:35 AM (No. 1337615)
She succeeded because a lot of so called smart people with big bucks wanted to in on the latest shiny new thing. NONE of them did due diligence. Barnum was right about suckers , this was a high tech con game.
15 people like this.
Reply 13 - Posted by:
bighambone 11/19/2022 10:54:39 AM (No. 1337655)
Biden will probably let her out of prison using her pregnancy as an excuse. That action would surely make her a lifelong Democrat supporter and voter after she gets her voting rights returned.
7 people like this.
Reply 14 - Posted by:
LadyVet 11/19/2022 10:57:43 AM (No. 1337661)
She will be out before that retired Air Force officer who was sentenced to several years in prison for walking through the capitol after the "riot" on Jan 6.
16 people like this.
Reply 15 - Posted by:
Highlander 11/19/2022 11:10:16 AM (No. 1337675)
She has the characteristics of a sociopath.
12 people like this.
Reply 16 - Posted by:
Zeek Wolfe 11/19/2022 11:14:23 AM (No. 1337680)
Holmes made a critical error: She failed to make huge donations of money to the Democrat party and its candidates. If she does that, her problems evaporate or at worst she gets probation and home confinement.
8 people like this.
Reply 17 - Posted by:
cold porridge 11/19/2022 11:35:46 AM (No. 1337703)
One down, now go get the rest of the democommies.
8 people like this.
Reply 18 - Posted by:
Heil Liberals 11/19/2022 11:56:49 AM (No. 1337724)
She will do well in prison. She will build a network, and when she gets out in seven years, she'll be ready to hit the ground running with her new friends.
7 people like this.
Reply 19 - Posted by:
lakerman1 11/19/2022 1:03:01 PM (No. 1337775)
To add to #11's excellent post, the attorney used to scare any employee who was worried about the fraud? David Boies, who represented A l Gore in 2000.
During the time whe this girl's publicity was cooking, I looked at what she proposed. nd I scoffed at her technique.
Part of the time I was in the USAF, I worked as a medical lab technician, and knew that finger sticks are less reliable than blood draws, for technical reasons.
She may have convinced herself, at first, that she had really created something, but fairly early on, she knew she was a fraudster.
There was a bartender in Pittsurgh, Pa, who creaed a company called BioControl Technology, which worked on creating a device that would measure blood sugar through the skin - a marvelous invention for diabetics.The Company, located in a small town about 50 miles from Pittsburgh, lasted for two decades, and the owner sold non voting stock all over theorld. He extracted millions from his company, and even changed the name of it to BiCo, to sound hip, and finally, clalled it BiCo.Com.
The owner was eventually convicted of stock fraud, and was sentenced to 18 months in prison.
In the cse of Theranos, American Greed did a good job in explaining her hustle. Too bad she had to rely on a 'woman wronged' defense. She shoud have manned up.
7 people like this.
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Less than she deserved.