Theranos founder Holmes jailed for 11 years

THE founder of Theranos has been sentenced to more than 11 years in prison for defrauding investors out of millions.

Elizabeth Holmes was found guilty on four counts of fraud and conspiracy in January this year. The US Probation Office said that investor losses totalled to more than $550million (£460million), the prosecution, however, was seeking $804million.

Holmes, who spoke just before her sentencing, said: “I regret my failings with every cell of my body.”

Theranos promised to deliver revolutionary technology that could scan for hundreds of diseases and other ailments with just a few drops of blood, but this proved to be untrue.

Joe Biden, Henry Kissinger and Bill Clinton were among the high-profile figures who supported Holmes’s work.

John Bostic, prosecuting, said: “When the court gives its sentence, it does the work of repairing the trust between innovators and customers. That trust was damaged by Holmes.”

Amanda Kramer, the defence lawyer, described the Theranos founder’s crimes as “more art than science”.

Edward Davila, the judge, who named Rupert Murdoch and Betsy Devos as some of those who incurred losses as a result of this scandal, sentenced Holmes to 135 months in jail.