Theranos Founder Elizabeth Holmes Sentenced to 11 Years in Prison For 'Fraud'
Elizabeth Holmes, the founder of blood testing company Theranos, was sentenced to 11 years and 3 months in prison for defrauding investors in the case where she was tried in the USA.
Elizabeth Holmes, who has been on the cover of world-renowned economics and finance magazines such as Forbes and Inc., was sentenced to 11 years and 3 months in prison for defrauding investors.
Holmes, founder of blood testing company Theranos, was found guilty by a jury in the California trial. The prosecution was demanding that Holmes be sentenced to 15 years in prison and Theranos to pay investors $800 million.
Known as Young Billionaire and New Steve Jobs
Holmes, who was declared the youngest woman to become a self-made billionaire by Forbes magazine, was referred to as the 'New Steve Jobs' in 2014 at the age of 30.
The young woman, who left Stanford University, founded the $9 billion Theranos company and claimed that the machines they produced could diagnose hundreds of diseases with a few drops of blood. However, this turned out to be not true.
A total of 11 charges were brought against Holmes, but four charges related to defrauding the public were unsubstantiated.