Theranos Founder Elizabeth Holmes Sentenced to Over 11 Years in Prison

Elizabeth Holmes, the founder of US-based blood-testing company Theranos, has been sentenced to 135 months, or over 11 years, in prison.

She faced sentencing after being found guilty of defrauding investors and endangering patients.

According to media reports, she will have to report to prison on April 27, 2023, and will have an additional three years of supervised release once she's out from the prison.

Judge Edward Davila 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.

Holmes' refusal to accept responsibility for the fraud counted against her in his sentencing decision, according to the judge.

Elizabeth Holmes
Elizabeth Anne Holmes is an American former businesswoman who was the founder and chief executive of Theranos, a now-defunct health technology company. Twitter

Meanwhile, Holmes' former boyfriend and Theranos' former president, Ramesh "Sunny" Balwani, is scheduled to be sentenced on December 7 after being convicted on 12 counts of fraud against investors and patients.

Balwani was found guilty in a separate trial of 10 counts of wire fraud and two counts of conspiracy to commit wire fraud.

Ramesh Balwani
Ramesh Balwani, the former chief operating officer of Theranos, has also been charged with fraud, and his trial may start next year. Twitter

Holmes was convicted for persuading investors that she had developed a revolutionary medical device before the company flamed out after an investigation.

Unlike Holmes, Balwani was found to have misled both investors and patients.