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Elizabeth Holmes Update

Elizabeth Holmes, the disgraced former founder, and CEO of Theranos, has finally been sentenced. Keep reading to learn more.

A Fall from Grace

Elizabeth Holmes made her name by becoming the darling of Silicon Valley, a unicorn investment of venture capitalists, and a visionary for a new age of healthcare technology. Her dream of creating a company that would invent blood testing machines that required a single drop of blood became a reality in 2003.

However, her dream wasn’t realized without hard work. Her and her partner Sunny Balwani would attract investors and produce impressive reports on the company’s progress. According to these reports, the company was healthy, and the product would be on market soon enough.

By the 2010s, the shine of Theranos had worn off and many were becoming wary of the empty promises Holmes and Balwani were feeding them. Reports came out alleging fraud and that the research and development department was using machines from competitors to generate false results. The Wall Street Journal began investigating the company in 2015 and by 2018 the Theranos founder was facing charges from the Securities and Exchange Commission. Theranos was dissolved shortly after.

Holmes’ case went to trial earlier this year and the court found her guilty of four out of 11 charges of fraud.


The judge has sentenced Holmes to 11 years and three months in prison with three year supervision after her eventual release. She will also be required to pay a fine of $400 - $100 per count. There is not a restitution amount yet, but that matter will be settled at a later date. Until her incarceration, Holmes will be on restricted release but will be required to turn herself in on April 27, 2023.

Balwani, her former business partner was found guilty on 12 fraud charges and will face sentencing in December.

Fraud and White-Collar Crimes

Fraud is a complicated crime that is punished severely at nearly every level. In the Elizabeth Holmes case, her lack of ostentatiousness and thorough legal team led to a lighter sentencing than expected but for most people, fraud charges can be difficult to fight in court especially without the help of a qualified attorney.

If you are facing fraud charges, you must contact the experienced attorneys at The Draskovich Law Group.