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Search resuls for: "Jody Godoy Dan Levine"


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☆ Elizabeth Holmes sentenced to more than 11 years in prison for Theranos fraud
  + stars: | 2022-11-19 | by ( Jody Godoy Dan Levine | Jody Godoy | Dan Levine | ) www.reuters.com   time to read: +4 min
SAN JOSE, Calif., Nov 18 (Reuters) - A federal judge on Friday sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at $9 billion. In San Jose, California, U.S. District Judge Edward Davila sentenced Holmes, 38, on three counts of investor fraud and one count of conspiracy after a jury convicted her last January following a trial spanning three months. The prosecution had recommended a sentence of 15 years in prison, while the defense had urged the judge to impose no prison time. The federal probation office had recommended a 9-year prison sentence, according to court papers. Before sentencing Holmes, Davila asked if any of her victims were in the courtroom.
☆ Elizabeth Holmes faces sentencing today for defrauding Theranos investors
  + stars: | 2022-11-18 | by ( Jody Godoy Dan Levine | Jody Godoy | Dan Levine | ) www.reuters.com   time to read: +2 min
A jury in San Jose convicted Holmes, 38, on three counts of investor fraud and one count of conspiracy in January. Prosecutors, who are seeking a 15-year prison sentence, called Holmes' fraud "among the most substantial white collar offenses Silicon Valley or any other district has seen." At trial, prosecutors said Holmes engaged in fraud by lying to investors about Theranos' technology and finances rather than allowing the company to fail. Though she was convicted on three counts, Holmes was acquitted on four other counts alleging she defrauded patients who paid for Theranos tests. Reporting by Jody Godoy in New York and Dan Levine in San Jose; Editing by Noeleen Walder and Diane CraftOur Standards: The Thomson Reuters Trust Principles.
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