Who is Elizabeth Holmes? Disgraced CEO who was sentenced to more than 11 years in prison for Theranos fraud

Elizabeth Holmes, the founder and CEO of the failed Silicon Valley start-up Theranos, was given a sentence of 11 years and 3 months in prison for defrauding investors in her failed blood-testing startup that was once valued at $9 billion. Theranos had promised to revolutionise blood testing but instead turned out to be a failure, and Elizabeth Holmes became a poster child for Silicon Valley ambition gone wrong.

The Theranos founder was very successful in securing funding from investors, but it was later discovered that she had lied about the technology and business transactions of her company. The fallout led to four convictions on felony fraud charges in January.

The fraud focused on the company's claims to have invented a medical device that could identify a variety of diseases and disorders from a few drops of blood. By replacing traditional labs with portable devices intended for use in homes, pharmacies, and even on the battlefield, Theranos Inc. claimed to change how patients obtain diagnoses. Holmes, who served as CEO throughout the tumultuous 15-year history of the business, was found guilty in the scheme. But the technology was never functional, and her assertions were untrue.


As a result of Holmes' meteoric rise, business journals once heralded her as the new Steve Jobs and featured her on their covers. In addition, a number of knowledgeable investors, such as Walmart's founders the Walton family and media moguls Larry Ellison and Rupert Murdoch, were drawn in by her deception.

Her story has been the focus of books, films, and a TV show that used her narrative to warn against the excesses of the tech industry's blind devotion to its charismatic creator.


In 2014, when Holmes was 30 and her stake in Theranos was valued at $4.5 billion, Forbes branded her the world's youngest female self-made billionaire. After many Wall Street Journal articles questioned Theranos' technology in 2015, the startup shut down.

In September, actress Amanda Seyfried received an Emmy Award for her performance as Holmes in the television movie "The Dropout."

The closely watched case became an indictment of Silicon Valley, and US federal prosecutors sought a 15-year jail term for Holmes.

Pregnant Holmes is not required to turn herself in until April next year, said US District Judge Edward Davila who was presiding over a courtroom in San Jose, California. Holmes's attorney said she plans to challenge her conviction.

Theranos Test Kit

When Holmes claimed that her now-defunct start-up was perfecting an easy-to-use test kit that could perform a wide range of medical diagnostics with just a few drops of blood, she shot to fame in Silicon Valley.

Back then, Holmes frequently wore sombre black turtlenecks that paid homage to her idol, the late Apple pioneer Steve Jobs.

She persuaded investors that her product will revolutionise medical care by displacing pricey lab tests with affordable kits.

Former US defence secretary James Mattis, former US secretary of state Henry Kissinger, and the late George Shultz were all members of the Theranos board at one point.

The Walgreens pharmacy chain, media magnate Rupert Murdoch, and the Walton family of Walmart were among the investors who are seeking $800 million in restitution from Holmes.

Despite Holmes' claims that she lacks the funds to make reparations, a hearing has been arranged.

Holmes, 38, could have spent up to 20 years behind bars. Her defence team requested from the judge an 18-month maximum sentence, ideally to be served under home confinement.

In addition, Homes' attorney Downey requested that Davila take into account the alleged sexual and emotional abuse Holmes endured while she was intimately connected with Ramesh "Sunny" Balwani, who went on to become a top executive at Theranos and ultimately a co-conspirator in her crimes.

Balwani, 57, will get his sentence on December 7 after being found guilty of 12 counts of fraud and conspiracy after a trial in July.