After misleading investors about the alleged efficacy of her company’s blood-testing technology, Theranos founder Elizabeth Holmes was given a sentence of more than 11 years in prison on Friday for fraud. On April 27, she was told to hand herself in.

In January, Holmes was found guilty by the Northern District of California’s federal district court. Prior to her Friday sentencing, she broke down in tears as she addressed the court.
“Theranos was fantastic. My life’s job was it, Holmes remarked. “To me, my team meant the world. My shortcomings have destroyed me. I apologise a lot. To build my business, I gave everything I had.

According to court documents, her defence team claimed she should receive a maximum sentence of 18 months. Instead, she received a sentence of 135 months, or 11 years, 3 months, in prison.

In 2015, The Wall Street Journal was the publication that first reported on how Theranos’ blood-testing technology was failing to live up to promises. Whistleblowers and other witnesses came forward to give in-depth accounts of how Holmes and former operating chief Ramesh “Sunny” Balwani misled clients, partners, investors, and workers regarding the company’s development and the capabilities of its technology.
Private investors once placed Theranos’ value at $9 billion, but it was shut down in 2018.

“I appreciate being here. I appreciate the respect and decency you have shown me,” she added on Friday. “I have experienced intense sorrow for the suffering caused by my failure to other individuals. I apologise to the patients and investors.

For the pregnant 38-year-old former billionaire and well-known figure in Silicon Valley, prosecutors asked for a 15-year term. Balwani, who had dated Holmes in the past, was found guilty of 12 counts of criminal fraud in July. He will be sentenced the following month.

The punishment was given by Edward Davila, a U.S. District Court judge who oversaw Holmes’ trial.
The former millionaire attempted to request a new trial after a former employee showed up at her door to meet with her in August. Billy Evans, Holmes’ partner, testified in court that the former employee expressed regret at their shared home.
Adam Rosendorff, the employee, however, claimed to the court that his comments were made out of grief at the idea of a child spending time apart from their mother. Theranos’ founder gave birth to her first child in July and is currently expecting a second.

Following the abrupt failure of his cryptocurrency exchange FTX last week, Sam Bankman-Fried, another young tech entrepreneur and previous billionaire star, now confronts a challenging future. Despite not having been charged with a crime, Bankman-Fried faces legal repercussions as a result of disclosures that part of the depositors’ money was used to finance dangerous, losing bets, which prevented his company from returning it to them.