"‘Diagnosing Diseases with a Few Drops of Blood’ Century’s Bio Fraudster Holmes Sentenced to 15 Years in Prison"

Dropped out of Stanford at 19 and founded biotech venture Theranos in 2003
Known as the 'female Jobs' and youngest female billionaire... ended in fraud, company liquidated

The former CEO of Theranos, Elizabeth Holmes (left), was sentenced to 15 years in prison by the prosecution. Photo by EPA Yonhap News

[Asia Economy Reporter Kim Hyunjung] The U.S. prosecutors have sought a 15-year prison sentence for Elizabeth Holmes, the former CEO of Theranos, who claimed that diseases could be diagnosed with just a few drops of blood taken from a fingertip.

On the 12th (local time), prosecutors submitted documents to the court stating, "Holmes was blinded by ambition and distorted reality, leading people down a dangerous path," and requested a sentence of 180 months in prison along with $800 million (about 1 trillion won) in damages.

Presentation Skills That Even Bill Clinton and Joe Biden Fell For

Holmes dropped out of Stanford University and founded the biotech venture Theranos in 2003 at the age of 19. She was also skilled in image-making. Like Apple founder Steve Jobs, she often wore a black turtleneck shirt and was called the "female Jobs," always lowering her voice and trying to act more mature than her age. Her presentations captivated political heavyweights such as former U.S. President Bill Clinton and then-Vice President Joe Biden, now President. Holmes secured massive investments from media mogul Rupert Murdoch, the founding families of Walmart and Amway, becoming the youngest female billionaire. She was also famous for her dazzling connections; Theranos’s board included former Secretaries of State Henry Kissinger and George Shultz, as well as former Defense Secretaries James Mattis and William Perry.

However, Holmes’s fraud could not continue indefinitely. In 2015, the Wall Street Journal (WSJ) repeatedly reported on the technical flaws of Theranos, raising doubts about the diagnostic kits themselves, exposing the largest fraud scandal in Silicon Valley to the public. Theranos’s corporate value, which once soared to $9 billion (about 10.7 trillion won), plummeted to zero, and the company was eventually liquidated.

In June 2018, prosecutors charged Holmes and her ex-boyfriend and former Theranos Chief Operating Officer (COO) Ramesh Sunny Balwani with fraud against investors and patients. In January, a California jury found Holmes guilty on four counts, including fraud and conspiracy. However, she was acquitted on four other felony charges related to deceiving patients, and the jury was deadlocked on three additional counts. Balwani was found guilty on all 12 charges earlier on the 7th and is awaiting sentencing.

During the trial held in January, prosecutors stated, "Holmes chose fraud over business failure and made dishonest decisions," adding, "That choice was a crime." Holmes, dressed in a suit, sat in court bowing her head several times and showed no emotion upon receiving the guilty verdict. Holmes’s defense attorneys argued in court documents that since she did not gain material benefits from the fraud, a prison sentence would be unfair, and if the court imposes a sentence, it should not exceed 18 months. The sentencing hearing for Holmes will be held on the 18th at the San Jose court in California.

This content was produced with the assistance of AI translation services.