Silicon Valley Fraud Elizabeth Holmes Jailed

Ultimately, the final decision was made about Elizabeth Holmes, who signed a fraud that was so big that it was the subject of movies in Silicon Valley, the center of technology in the world. in November 2022 Sentenced to 11 years and 3 months in prison imprisoned Holmes, surrendered to serve his sentence.

In the case, which has been running since 2021, Holmes’ army of lawyers has been trying every possible means at their disposal to avoid punishment. The $10 billion fraudulent scam story came to an end for a while with the surrender of 39-year-old Elizabeth Holmes.

Let’s remember Silicon Valley’s Holmes:

Elizabeth Holmes, a Stanford University graduate, entered Silicon Valley with an idea never heard before. Holmes claimed to have developed a groundbreaking technology in blood test technology, received huge investments from dozens of prestigious investors, and was mentioned many times in the press.

Moreover, he founded the company Theranos, to which he made all these promises, in 2003, when he was only 19 years old. back then 700 million dollars managed to receive an incredible amount of investment, such as Moreover, the value of the company in 2013-2014 exceeded $10 billion.

Holmes’ technology promising fast and highly accurate blood testing with a very small blood sample, Until 2015, it hardly aroused suspicion. But what changed the situation was the determination of journalist John Carreyrou of the Wall Street Journal. John brought up the fact that technology doesn’t exist.

As the truth came to light, Holmes’ personal fortune of $4.5 billion was puffed up, and lawsuits and limitations dragged on for years. In 2018, the company was officially closed. Holmes and the company’s president, Sunny Balwani, officially announced in November 2018. accused of fraud. The lawsuits took place in 2021 and 2022, when COVID-19 intervened.

Holmes was sentenced to an all-female minimum security prison in Texas.

To learn the story of Holmes in full detail:

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