All posts tagged "Holmes"

Washington (AFP) - US federal prosecutors are seeking a 15-year jail term for Theranos founder Elizabeth Holmes and want her to pay more than $800 million to investors defrauded by her blood-testing startup, according to a court filing. "The government recommends the Court sentence the defendant to 180 months in custody and order her to pay $803,840,309 in restitution," said a court filing submitted Friday by US attorney Stephanie Hinds. The toughly worded filing said Holmes had been "blinded by... ambition," and that "her reality-distortion field put, and will continue to put, people in harm’......

San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes was convicted on Monday of defrauding investors in her blood-testing startup Theranos, in a high-profile case seen as an indictment of Silicon Valley culture. Holmes is a rare example of a tech exec being brought to book over a company flaming out, in a sector littered with the carcasses of money-losing companies that once promised untold riches. Her case shone a spotlight on the blurred line between the hustle that characterizes the industry and outright criminal dishonesty. Jurors took seven days of deliberations to reach their ve......