Elizabeth Holmes—Elizabeth Holmes convicted of defrauding Theranos investors and sentenced to over 11 years in prison
In January 2022, Elizabeth Holmes was found guilty on four counts of investor fraud and conspiracy for misrepresenting Theranos's blood testing technology. She falsely claimed projected revenues of $100M+ when actual revenue was near zero, and misrepresented the Walgreens partnership would expand to 900 stores. In November 2022 she was sentenced to 11 years and 3 months. Holmes and co-defendant Ramesh Balwani were ordered to pay $452 million in restitution. The 9th Circuit upheld the conviction on appeal.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Corporate Governance | -against | primary | -1.00 |
| Corporate Transparency | -against | secondary | -0.50 |
| Overall incident score = | -0.885 | ||
Score = avg(topic contributions) × significance (critical ×2) × confidence (0.59)
Evidence (1 signal)
Elizabeth Holmes sentenced to 11+ years for defrauding Theranos investors of hundreds of millions
Holmes was convicted in January 2022 on four counts of investor fraud. In November 2022 she was sentenced to 11 years and 3 months. Holmes and Ramesh Balwani were ordered to pay $452 million in restitution to victims including Rupert Murdoch ($125M), the DeVos family, and the Walton family. The 9th Circuit upheld the conviction on appeal.