Elizabeth Holmes faces up to 20 years in prison at her sentencing on Friday for defrauding Theranos investors. Here's a recap of the rise and fall of Silicon Valley's former golden girl.
Holmes, founder of the health-technology company Theranos, was convicted in January on four counts of defrauding investors in her blood-testing startup and now faces up to 20 years in jail. Her sentencing is scheduled for Friday.In the early 2000s, Holmes captured the imagination of Silicon Valley with her self-made story.
The saga has inspired a book, an HBO documentary, a podcast, a film and the Hulu limited series “The Dropout.”Holmes will be sentenced on Friday, Nov. 18, after being found guilty on fraud and conspiracy charges in January. Balwani was convicted on 12 felony counts of fraud and conspiracy against Theranos investors and patients in July, and his sentencing is scheduled for Dec. 7.Who is Elizabeth Holmes? Elizabeth Holmes grew up in Washington, D.C., and was a top student in high school.
What was Theranos? Holmes kept the Palo Alto, Calif.–based Theranos in “stealth mode” for its first 10 years as it developed a proprietary technology that the company claimed could run tests using only a few drops of blood. Holmes also put together a highly unusual board of directors for a healthcare startup, including two former U.S. secretaries of state, George Shultz and Henry Kissinger, as well as William Perry and Gen. James Mattis, former and future secretaries of defense, respectively.
What charges did Holmes face? Both Holmes and Balwani, who is now 57, were charged with two counts of conspiracy to commit wire fraud and 10 counts of wire fraud.
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