CNBC reports that Elizabeth Holmes was just sentenced to over 11 years in prison.
This is the result of the scam that Holmes ran through Theranos, the company she founded.
What did she do?
Holmes managed to get hundreds of millions of dollars from investors by pushing the false claim that she and her company had made technological advancements that would revolutionize health care. Holmes, for example, told investors that Theranos had medical testing technology that could diagnose a disease with nothing more than a few drops of blood, which turned out to be a lie.
As a result of this scam, Holmes faced several criminal charges. In January, she was convicted of three counts of wire fraud and one count of conspiracy.
The only question remaining was how much prison time Holmes would receive. We now have the answer.
On Friday, U.S. District Judge Edward Davila announced Holmes’s prison sentence: 135 months, which is 11 years and three months.
This isn’t the harshest sentence that Holmes could have received, though.
She faced a sentence of up to 20 years behind bars for her crimes. The prosecution had asked for at least 15 years, whereas the defense was hoping for a mere 18 months – at most.
The judge goes with 11.25
The prosecution argued that Holmes should receive a heavier punishment for several reasons, including that she failed to accept responsibility for her crimes and to cooperate with the government’s investigation.
On the other hand, the defense highlighted the fact that Holmes is pregnant and claimed that a more lenient sentence was in order because Holmes could still do a lot of good for society going forward. The defense even had Holmes make a last-ditch emotional plea before the court, and it submitted over 100 letters from individuals – including Sen. Cory Booker (D-NJ) – lauding Holmes’s character.
Considering, however, that 11 is closer to 15 than 1.5 is, it would appear that the judge didn’t buy into a lot of what Holmes and her defense team were selling.
This, though, still isn’t even the end of the matter for Holmes: there is still the matter of providing restitution to her victims. The date for the restitution hearing has yet to be set.