{O/C} An ironic twist for a health tech firm CEO today.
Disgraced Theranos CEO Elizabeth Holmes has been sentenced to over 11 years in jail for duping investors into a failed plan to revolutionise blood-testing.
{RVO}
The sentence in California was much shorter than the 15-year penalty requested by federal prosecutors, but far harsher than the 18 months her legal team had pleaded for.
The scheme revolved around Theranos' bogus claims that it had developed a medical device that could detect a battery of diseases and conditions from a few drops of blood.
But the breakthrough technology never worked, and the claims turned out to be false.
Her deception even lured a list of sophisticated investors, including software magnate Larry Ellison and the Walton family behind Walmart.
All that proved too much for the Silicon Valley ambition, which later veered into jeopardy.
Holmes' meteoric rise once landed her on the covers of business magazines that lauded her as the next Steve Jobs.
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