Fallen start-up prodigy: 11 years in prison for founder Theranos North Korea sees progress in nuclear energy expansion

Former American blood test entrepreneur Elizabeth Holmes has been sentenced to about 11 years in prison for fraud.

A federal judge in San Jose, California, sentenced the founder of biotech start-up Theranos on Friday. The pregnant 38-year-old does not have to start her prison sentence before April 27 next year.

Holmes was found guilty by a jury in January on four counts of investor fraud. The public prosecutor had subsequently demanded 15 years in prison against her.

The defense had argued that Holmes should be spared or sentenced to no more than a year and a half in prison. Federal Judge Edward Davila now handed down a prison sentence of 135 months, or 11 years and three months.

Founded at a young age

Holmes founded Theranos in 2003 when he was just 19 years old. The company promoted a supposedly revolutionary technology for particularly fast, effective and cheap blood tests.

Celebrated as a technology pioneer, the charismatic young entrepreneur won financially strong investors and prominent supporters such as ex-Secretary of State Henry Kissinger and media mogul Rupert Murdoch.

Holmes himself became a billionaire. Then Wall Street Journal reports revealed that the technology didn’t work at all.

Entrepreneur admits mistakes

Holmes has always denied that he defrauded investors. She admitted mistakes, but claimed to have believed in the potential of her technology.

She also blamed her ex-boyfriend and former business partner Ramesh “Sunny” Balwani for the scandal. He was also found guilty of fraud in July. The verdict is still pending. (sda/afp)