Former Theranos CEO Elizabeth Holmes Sentenced To More Than 11 Years In Prison

Theranos founder Elizabeth Holmes was sentenced Friday in a federal court to 135 months, more than 11 years in prison following her conviction on four counts of criminal fraud. The court found she deceived investors, including News Corp.'s Rupert Murdoch and a host of other luminaries, about the efficacy of Theranos' blood-testing technology. CNBC reports: Holmes cried while speaking to the court ahead of her sentencing. "I loved Theranos. It was my life's work," Holmes said. "My team meant the world to me. I am devastated by my failings. I'm so so sorry. I gave everything I had to build my company." Her defense team argued she should face a maximum sentence of 18 months, according to court filings. The Wall Street Journal first broke the story of how Theranos' blood-testing technology was struggling to meet expectations in 2015. Whistleblowers and other witnesses came forth to provide detailed accounts of how Holmes and former operating chief Ramesh "Sunny" Balwani deceived patients, partners, investors and employees about the company's progress and the capabilities of its technology. "Thank you for having me. Thank you for the courtesy and respect you have shown me," she said Friday. "I have felt deep pain for what people went through because I failed them. To investors, patients, I am sorry." Prosecutors sought a 15 year sentence for the pregnant 38-year-old former billionaire and Silicon Valley celebrity. Developing...

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