Theranos founder who duped investors over firm's tech, biz ops gets 11 yrs in jail

Elizabeth Holmes, the founder of the failed blood-testing startup Theranos, was sentenced to more than 11 years in prison on Friday for defrauding investors about her company's technology and business dealings.

The sentence capped a years-long saga that has captivated the public and ignited debates about Silicon Valley's culture of hype and exaggeration. Holmes, who raised $945 million for Theranos and promised that the startup would revolutionize healthcare with tests that required just a few drops of blood, was convicted in January of four counts of wire fraud for deceiving investors with those claims.

Judge Edward J Davila of the US district court for the Northern District of California sentenced Holmes to 135 months in prison, which is slightly more than 11 years, followed by three years of supervised release. Holmes, 38, who plans to appeal the verdict, must surrender to custody on April 27, 2023.