- Elizabeth HolmesAt 19 years old, Stanford was closed. Theranos and grew its value to $9 billion.
- Holmes was later found guilty of three counts each of wire fraud, and one of conspiracy.
- Holmes was Sentenced to over 11 years in prisonShe will start serving her time April 27, 2023.
Theranos, a startup that provides blood-testing services, was founded by its founder in 2014. Elizabeth HolmesWe were the best in the world.
Then, TheranosThis was a groundbreaking idea that was created by a woman who was considered a genius and referred to herself as a female Steve jobs. Holmes was the world’s youngest self-made billionaire female and Theranos, valued at around $9 billion, was one of Silicon Valley’s unicorn startups.
It all ended in a commotion.
Theranos’s technology had many flaws and errors. Holmes was responsible for covering them up. Holmes Was fired as CEOThe company was charged with “massive Fraud” and forced to close its testing centers and labs, eventually closing all operations.
Federal court jurors will be present in January found Holmes guiltyShe was convicted of three counts of wire fraud, and one count each of conspiracy to commit fraud. Four other charges were not pleaded guilty. The remaining three charges were not decided unanimouslyIt was against her.
Holmes’ ex-romantic and business partner Ramesh Balwani, “Sunny”Also, ConvictedIn July, he was convicted of fraud. All 12 fraud-related charges were dismissed.
Holmes had previously asked the judge who presided over her case to reverse her conviction. Holmes’ lawyers contacted Holmes in May The defense argued that evidence was not sufficient to support the convictions.A judge will be appointed in September. Temporarily denied Holmes’ request.
She Also, three motions for a new trial were filedAll of which were ultimately denied by the judge.
Holmes was present Friday SentenceUp to 11 years, 3 months in prison and 3 years of supervision. She will report to prison April 27, 2023.
Here’s how Holmes became a precocious youngster, a Stanford dropout with ambition, and subsequently a troubled founder of e-commerce.
