Elizabeth Holmes, the disgraced CEO who is currently pregnant with her second child, has been sentenced to 11 years in prison after being found guilty on fraud charges related to the fallout of her blood sampling company, Theranos.
Holmes, who is expected to appeal, must report to prison on April 27, 2023. She is also required to serve three years of probation after her release.
“Failure is normal but failure by fraud is not OK,” U.S. District Judge Edward Davila said while ruling on Friday.
Before she was sentenced, an emotional Holmes spoke before the judge. “Thank you for the chance to speak. I’m grateful for this chance,” she said, according to reporters in the courtroom. “I stand before you taking responsibility for Theranos. It was my life’s work.”
“I am devastated by my failings. I have felt deep pain for what people went through, because I failed them,” she continued. “To investors, patients, I am sorry… I regret my failings with every cell of my body.”
The decision, meanwhile, comes after a jury of her peers convicted her on four counts of wire fraud following an extensive deliberation and four-month trial that concluded in January.
In the time since, Hulu released “The Dropout”, a scripted, true-crime series about Holmes’ involvement in her company’s fraudulent claims with Amanda Seyfried winning an Emmy for her performance.
Additionally, Sunny Balwani, her ex-boyfriend and the former president and COO of Theranos, was also found guilty on all 12 criminal fraud charges brought against him.
Leading up to her sentencing, Holmes requested a new trial, arguing that new evidence had come to light over the summer. In August, former Theranos lab director Dr. Adam Rosendorff visited her, expressing regret for his participation against her in court.
He also reportedly revealed “that [Holmes] is pregnant again.”
While in court, Holmes appeared visibly pregnant, with the judge even offering for her to sit through the entire proceedings.
On Friday, before the judge made his ruling, probation officers recommended that she only spend nine years in federal prison while the prosecution asked for a 15-year sentence.
At the time of her conviction, it was believed that she faced a maximum of 20 years behind bars and a fine of $250,000 for each count she was found guilty on. It was also believed that her sentences could be served out concurrently.
Up next is Balwani, who’s still awaiting sentencing and is also facing up to 20 years in prison. He’s expected back in court in December.
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