Fifteen years in prison required against the founder of Theranos

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Fifteen years in prison required against the founder of Theranos

Former Theranos CEO Elizabeth Holmes arrives in federal court in San Jose, Calif., Monday, Oct. 17, 2022.

Prosecutors have requested a 15-year prison sentence for fallen Silicon Valley star Elizabeth Holmes, and the defense argued for a maximum sentence of a year and a half, in papers filed Friday night.

Convicted of fraud in January after a well-attended trial, the founder of Theranos, a start-up that promised to revolutionize blood testing, will be Sentenced next Friday in California federal court.

As the hearing approached, the prosecution delivered a scathing indictment to the court asking it to sentence the 38-year-old woman to 15 years in prison and return US$800 million to the court. its victims.

Blinded by ambition, Elizabeth Holmes swindled hundreds of millions of dollars from dozens of investors and put patients at risk, has justified prosecutor Stephanie Hinds, blaming the fallen boss for failing to take responsibility.

Ms. Holmes poses no danger, has not benefited materially from this case, and therefore does not deserve a sentence longer than a year and a half in prison for having failed in her ambitious project, retorted her lawyers. p>

Elizabeth Holmes founded Theranos in 2003, aged just 19, and promised diagnostic tools that were faster and cheaper than traditional labs.

With the help of a very elaborate story and appearance, she had managed in a few years to gain the trust of luminaries and to raise funds from prestigious investors attracted by the profile of this young woman. woman, a rarity in the male world of Californian engineers.

At its peak, the company was valued at nearly US$10 billion, and Elizabeth Holmes, the majority shareholder , is at the head of a fortune of 3.6 billion, according to the magazine Forbes.

The story was beautiful. As a child, she hated needle sticks during blood tests. She will therefore invent a simple, fast and efficient machine that will allow everyone to carry out hundreds of blood diagnoses from a single drop of blood taken from the tip of their finger.

But in 2015, the Wall Street Journal revealed the huge pot of roses: the fabulous machine promised by Theranos never worked.

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