Elizabeth Holmes sentenced to 11 years in prison for fraud

Elizabeth Holmes, the former CEO and founder of Theranos, was sentenced to just over 11 years in prison for defrauding investors in her blood testing startup. The sentencing comes nearly a year after Holmes was found guilty of four counts of fraud following a months-long trial.

In total, Holmes was sentenced to 135 months in prison, as well as three years of probation. A surrender date was set for April 27. She will also be ordered to pay restitution, although Judge Ed Davila said that amount will be determined at a separate hearing. Prosecutors had sought more than $800 million in restitution, representing 29 investors, but during the sentencing hearing, Davila said restitution would be based on $121 million in losses for 10 investors, according to < em>The New York Times .

Prior to her sentencing, prosecutors had asked for a 15-year sentence, while Holmes' lawyers argued she should get no more than 18 months house arrest. His probation officer had recommended nine years, The New York Times reported.

Throughout the trial, Holmes' attorneys attempted to portray the Theranos founder as a young, inexperienced entrepreneur who had no intention of misleading investors or the public. During his testimony, Holmes blamed many of Theranos' problems on others at the company, including his former partner Ramesh "Sunny" Balwani.

She also testified that Balwani had been violent during their romantic relationship and that he had misled her about what was going on in the Theranos lab. Balwani, who as chief operating officer also oversaw day-to-day operations of the company's lab, was found guilty of 12 counts of fraud in a separate trial earlier this year. His sentencing is scheduled for December.

Even during her sentencing, Holmes proved that she still had influential allies to defend her. Several Silicon Valley investors, including early Theranos backers Tim Draper, wrote letters of support urging the judge for a lighter sentence. New Jersey Sen. Cory Booker also wrote in support, asking the judge for "a just and fair sentence."

Holmes made a brief statement during his sentencing hearing. "I regret my failures with every cell in my body," she said, according to Law360 Dorothy Atkins. Holmes was crying throughout his statement, according to several reporters in the courtroom.

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