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Elizabeth Holmes has been sentenced to over 11 years in prison

Elizabeth Holmes has been sentenced to 135 months, or just over 11 years, in prison, according to journalist John Carreyrou. She will have to report to prison on April 27th, 2023, and will have an additional three years of supervised release once she’s out, according to Yahoo Finance’s Alexis Keenan.

Judge Edward Davila, who has overseen the case, declared that the charges she had been found guilty of made her responsible for defrauding 10 victims out of $121 million, according to The New York Times’ Erin Griffith. Davila said that Holmes’ refusal to accept responsibility for the fraud counted against her in his sentencing decision, according to The Wall Street Journal.

A jury found Holmes guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud earlier this year. In the weeks leading up to the former Theranos CEO’s sentencing, prosecutors asked the judge to give her 15 years of prison time and to pay victims more than $800 million. On the day of the trial, the government argued Holmes’ actions put patients in harm’s way, according to the WSJ.

Meanwhile, Holmes’ lawyers filed an 82-page document arguing why she should get a much lighter punishment — 18 months of house arrest and community service, at most — and provided well over 100 letters written in support of the founder.

Holmes led a company that promised to revolutionize the medical industry by running over 240 tests on a single drop of blood, where traditional panels required much larger samples.

But it turned out that the company’s tech didn’t work and gave patients inaccurate results. (Holmes was found not guilty on two counts of defrauding patients and one count of conspiracy to defraud patients.) The trial mainly hinged on whether Holmes knew she was giving out false information. In announcing his decision, Davila cited texts between Holmes and Sunny Balwani, former chief operating officer and president of Theranos, as proof that Holmes conspired to defraud investors, according to NBC News’ Scott Budman.

Balwani was also found guilty in a separate trial: 10 counts of wire fraud and two counts of conspiracy to commit wire fraud. Unlike Holmes, Balwani was found to have misled both investors and patients. He is set to be sentenced on December 7th.

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by Anonymousreply 59March 22, 2023 2:35 AM

Good!

by Anonymousreply 1November 18, 2022 9:57 PM

I guess her kids will see her on visiting day

by Anonymousreply 2November 18, 2022 10:02 PM

Justice does exist

by Anonymousreply 3November 18, 2022 10:05 PM

She had it comin’!

by Anonymousreply 4November 18, 2022 10:05 PM

Will they send her to Holmesburg?

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by Anonymousreply 5November 18, 2022 10:08 PM

She was the definition of a sociopath

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by Anonymousreply 6November 18, 2022 10:11 PM

11 years in prison for a first time offender of strictly financial crime seems onerous.

by Anonymousreply 7November 18, 2022 10:14 PM

r7 Exactly! If her victims were stupid enough to invest in her, it's THEIR FAULT! Why do I have to waste taxpayer money on throwing her in prison?

by Anonymousreply 8November 18, 2022 10:17 PM

Neither Holmes nor Balwani had any relevant medical background and everyone knew that, right? So basically people were just gambling on professionals behind the scenes to make it work. And they probably wanted the blustering and bluffing to continue until the technology could materialize so that big investors would not lose money. But why would you have non-experts be at the head of high expertise type products? It makes no sense but it was ALWAYS true. There was never an expert in charge at Theranos. Is it for plausible deniability, so someone can overpromise and then say they didn’t know what they were talking about?

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by Anonymousreply 9November 18, 2022 10:22 PM

It's still a crime to defraud people, even if you think they deserve it.

by Anonymousreply 10November 18, 2022 10:23 PM

Cory Booker must be posting here.

by Anonymousreply 11November 18, 2022 10:23 PM

The sentencing reflects that it was more than just a financial crime. It's not like she was selling counterfeit purses, she was fine with people receiving inaccurate lab results as long as it sustained her charade.

by Anonymousreply 12November 18, 2022 10:28 PM

r12 That's why we have doctors that go to 10 years of medical school. It should be on them for being IDIOTS, not my tax dollars.

by Anonymousreply 13November 18, 2022 10:30 PM

Does this increase the value of Amanda’s Emmy?

by Anonymousreply 14November 18, 2022 10:30 PM

[quote] 11 years in prison for a first time offender of strictly financial crime seems onerous.

There was such a huge amount of money loss - that alone put her sentencing guideline at 80 years. But the statutory mx was 20 years.

This was a crime that spanned such a long period of time which is a factor as well as the number of victims another factor. The fact she was a leader of the enterprise is another factor. Plus she showed no remorse.

It should be onerous. She'll be back in the community in 8 - 9 years. The she can become an expert in prisons and make a fortune that way.

by Anonymousreply 15November 18, 2022 10:30 PM

Will her voice deepen further while she's banged up in Clit Clink?

Big Marge, serving 50 years for stamping her lesbian partner to death is going to have some fun with Ms Holmes.

by Anonymousreply 16November 18, 2022 10:31 PM

She should have just tried to overthrow the government. She could be running for president instead of going to prison.

by Anonymousreply 17November 18, 2022 10:36 PM

Ha ha .. she will serve at least 9 years 😝

by Anonymousreply 18November 18, 2022 11:09 PM

B-b-but I'm a MOTHER!

by Anonymousreply 19November 18, 2022 11:22 PM

The most cynical pregnancy this side of any Hillaria Baldwin's efforts.

by Anonymousreply 20November 18, 2022 11:24 PM

They drove an employee to suicide, r7.

Tyler Schultz, George’s grandson, feared Holmes enough that he slept with a knife under his pillow.

by Anonymousreply 21November 18, 2022 11:29 PM

“The FDA can and should ban laboratory-developed tests that provide clinically meaningless results. As part of this process, it should evaluate any software that generates interpretations.“

The problem is bigger than Theranos and Holmes…but hopefully will be addressed with the Valid Act.

More examples of Theranos like companies in the link.

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by Anonymousreply 22November 19, 2022 4:32 AM

Dead eyes

by Anonymousreply 23November 19, 2022 4:40 AM

R12 It’s said in the article that

[quote]Holmes was found not guilty on two counts of defrauding patients and one count of conspiracy to defraud patients.

Their technology didn’t work and produced inaccurate results, so they used Siemens technology to do the blood tests and gave those results to patients, IIRC. But they defrauded the investors telling them their technology did work.

by Anonymousreply 24November 19, 2022 4:46 AM

I like her..

by Anonymousreply 25November 19, 2022 4:53 AM

R24, there were at least a few cases where they gave patients wrong results. I remember that distinctly from Carreyou's book.

by Anonymousreply 26November 19, 2022 4:53 AM

Honestly, I’m a bit afraid that within three months she’ll be running that prison and all those ladies will be her bitches.

by Anonymousreply 27November 19, 2022 6:19 AM

Elizabeth is Elon level Autistic

by Anonymousreply 28November 19, 2022 7:14 AM

[quote] 11 years in prison for a first time offender of strictly financial crime seems onerous.

-B. Madoff, first time offender of strictly financial crime

by Anonymousreply 29November 19, 2022 7:52 AM

I was hoping for 15 years... but at least it's more than 10. She won't actually go to prison until April of next year, after she gives birth.

What are the chances she has some kind of "medical emergency" after birth that she leverages to delay serving her time even further, which buys her enough time to get preggers AGAIN?

by Anonymousreply 30November 19, 2022 7:54 AM

Seize her and fuck her!

by Anonymousreply 31November 19, 2022 7:58 AM

When giving testimony, did she resort to her normal voice?

by Anonymousreply 32November 19, 2022 8:11 AM

R6 it reminds me of closeted male actors who lower their voices too in order to appear straight and masculine.

by Anonymousreply 33November 19, 2022 8:22 AM

R26, there is a massive problem with lab tests being under-regulated. Theranos wasn’t just a fraud though. They actually did have scientist employees staying up all night trying to make the tests work, under pressure. The problem was the extremely small amount of blood used, and that since that was what was patented, that’s what they had to work with.

It’s also a problem with patent law, that someone like Holmes could file patent rights for several specific ideas when she had no specific inventions. It actually blocks innovation.

But she’s not the only one who did it, and many other companies that gave bad test results were given just a slap on the wrist, if exposed at all, due to under-regulation.

“Earlier in the day, Erika Cheung, a former lab associated turned whistleblower, concluded her testimony after three days on the stand. Cheung recalled that frequent quality control failures in the lab created substantial delays in test results for patients.

"We had people sleeping in their cars because it was just taking too long," Cheung testified. "Every few days we were having to run samples over and over again."

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by Anonymousreply 34November 19, 2022 10:37 AM

“More generally, agencies do not know what other agencies are doing: the USPTO is unlikely to know that the FDA has found an approach predictable (or unpredictable) or a method dangerous, or even that clinical trials are under way or a drug has been approved.“

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by Anonymousreply 35November 19, 2022 10:59 AM

She will be out in five.

by Anonymousreply 36November 19, 2022 11:08 AM

Don't fuck with rich people's money. That's what she's being punished for. I think she'll try to run

by Anonymousreply 37November 19, 2022 11:46 AM

Of course. This is a patriarchal world. The punishments are always going to be swift and 10Xs worse for women while men who commit the same or worse offenses have virtually no consequences.

by Anonymousreply 38November 19, 2022 11:58 AM

R38 - her MALE partner was convicted of even more counts and will probably serve more time.

by Anonymousreply 39November 19, 2022 12:09 PM

Dang, she's carryin' low.

by Anonymousreply 40November 19, 2022 12:22 PM

Hate this money grubbing scammer BUT 11years when PEDOPHILES, RAPISTS and MURDERERS get less? How is Casey Anthony walking around scot free making documentaries for peacock when she bound her baby and killed her?

by Anonymousreply 41November 19, 2022 12:23 PM

[quote]there were at least a few cases where they gave patients wrong results. I remember that distinctly from Carreyou's book.

Yes. The financial fraud is impossible to disentangle from the medical fraud. She was told by genuine experts as an undergrad that what she sought to do was impossible, and it was explained to her why, and she didn't care. She wanted the notoriety and the fundraising spoils.

A few patients who received inaccurate results testified at the trial. One was a woman who was wrongly told she was miscarrying; another was wrongly told she had HIV. A man discontinued blood thinners after receiving incorrect results.

Had the fraud continued, it would have wreaked enormous havoc on the lives of unsuspecting patients and their families. Yes, there were Theranos employees frantically using other means to obtain more accurate results, and Holmes should thank her lucky stars that others cared more about the integrity of results than she did. She'd have a slew of additional civil suits to settle otherwise.

by Anonymousreply 42November 19, 2022 12:24 PM

R41 Why is Casey Anthony free? Because a jury acquitted her. Right or wrong, that's our legal system.

by Anonymousreply 43November 19, 2022 12:28 PM

I don't have a problem with her "fake deep" voice. It's the high-pitched nasal "baby" or "little girl" voices that are irritating--and they're just as "put on" (even by middle-aged women like Christine Blasey Ford).

by Anonymousreply 44November 19, 2022 12:40 PM

Off topic for a second...The video at R6 has a graphic that says "The Top 10 Roles that Attract Psychopaths" and surgeons are #5. I don't understand that at all. And journalists are #6 and chefs #9? I wouldn't have expected that. I don't know if I believe that list, but I really hope it isn't true about surgeons. Anyone know what that means?

by Anonymousreply 45November 19, 2022 12:53 PM

R45, you might find this article interesting. The neurosurgeon Henry Marsh is indeed a great chronicler of what makes surgeons different (and somewhat scarier) than the rest of us.

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by Anonymousreply 46November 19, 2022 12:57 PM

Rich connected white lady, victimless crime, I’ll give it 3 1/2 years. She’ll probably start a prison book club or some shit.

by Anonymousreply 47November 19, 2022 1:00 PM

Thanks R46. I can't handle the blood-and-guts details of that article, but I read the psychopath parts. Very interesting.

by Anonymousreply 48November 19, 2022 1:11 PM

“Recently, an investigation of prenatal LDTs used to detect chromosomal microdeletions associated with a wide range of devastating disorders revealed alarmingly high frequency of false-positive results (above 80% in most cases). This is a concern, as studies show that many people who test positive for these prenatal screens undergo an abortion without getting a confirmatory test.“

A law from 1976 that was meant mostly for a very small number of tests to diagnose rare diseases still has not been updated and the lack of regulation has broad impacts. That’s what the Valid Act now in front of Congress is supposed to address.

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by Anonymousreply 49November 19, 2022 3:10 PM

r49 Why can't doctors just decide which test they want to use on their own? Why do we need to pass a law about it?

by Anonymousreply 50November 19, 2022 3:17 PM

R38 no lies on this site plz!

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by Anonymousreply 51November 19, 2022 3:26 PM

R50, the unregulated tests are direct to consumer. But generally speaking you can’t just not regulate medicine. Things were done that way once with disastrous results. There should be a United Nations of doctors. If everyone can speak publicly less would be covered up. Whistleblower protections should be made stronger.

Manufactured by Bailey Radium Laboratory in New Jersey, each bottle of Radithor was guaranteed to contain two microcuries of radium, the new kid on the medical block and still blossoming with potential. Radithor was widely advertised as a cure-all for some 150 maladies, including dyspepsia, high blood pressure, and impotence. It also didn't hurt that the doctor, along with every other physician who prescribed Radithor, received a generous 17 percent kickback from the manufacturer.

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by Anonymousreply 52November 19, 2022 3:58 PM

Grifting was in her blood. Her father is a former Enron executive. No joke.

by Anonymousreply 53November 19, 2022 4:51 PM

R47 A victimless crime? Knowingly providing fraudulent machines that told pregnant women they had syphilis?

by Anonymousreply 54December 24, 2022 6:35 AM

Selfish of her to have 2 kids.

by Anonymousreply 55December 24, 2022 7:33 AM

She a bitch.

by Anonymousreply 56December 24, 2022 12:08 PM

^^A bitch who made friends in very high places.

by Anonymousreply 57December 24, 2022 10:10 PM

DHE JUST GAVE BIRTH!

by Anonymousreply 58March 22, 2023 2:30 AM

But, but, but…she’s a white woman!

by Anonymousreply 59March 22, 2023 2:35 AM
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