Elizabeth Holmes, who founded a billion-dollar healthcare company on the promise of technology that did not exist, was today sentenced to 11 years imprisonment by a federal judge.
This is the end of a years-long saga that saw the celebrated startup founder become a cautionary tale of Silicon Valley's "fake it 'til you make it" culture. Holmes in January was found guilty of four charges of wire fraud and conspiracy to commit wire fraud.
Prosecutors asked for 15 years; her lawyers suggested 18 months of house arrest. Crony, ex-lover and co-convict Sunny Balwani gets sent down in December.
From an earlier post:
Re: for whom justice is served: she was convicted of defrauding investors, not patients.
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