Monday, December 5

Tag: Sunny Balwani

Former Theranos CEO Elizabeth Holmes set to be sentenced
Business

Former Theranos CEO Elizabeth Holmes set to be sentenced

Former Theranos CEO Elizabeth Holmes awaits sentencing Friday, 10 months after a jury found her guilty of defrauding investors in the failed blood-testing company. The sentencing hearing in San Jose, California, began shortly after 10 a.m. Pacific Time and stretched out for nearly four hours — an unusually long time for what is typically a procedural hearing.The amount of money Holmes must repay will be set at a later date, Judge Edward Davila of the Northern District of California ruled. Prosecutors had claimed that Holmes must repay $804 million to defrauded investors, but Davila ruled that true losses were likely closer to $121 million. Holmes, 38, founded Theranos in 2003, and it quickly grew to become of one of the best-known startups in the...