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2022-11-20 -Lurid Crime Tales-
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Theranos founder Elizabeth Holmes sentenced to 11 years in prison for fraud
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[NYPOST] 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.
Moments after the ruling, the 38-year-old Holmes turned to hug her crying mother. She was also comforted by her father and her partner after the sentence was handed down.
During the hearing, Holmes cried as she said she was "devastated" by her failures and would have done many things differently if she had the chance.
"I have felt deep shame for what people went through because I failed them," she said.
Before handing down the sentence, Davila called the case "troubling on so many levels," questioning what motivated Holmes, a "brilliant" entrepreneur, to misrepresent her company to investors.
"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," he said.
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Posted by Fred 2022-11-20 00:00||
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