Was Elizabeth Holmes sentenced? Here's what happened to the Theranos founder

The head of Theranos was found guilty on four out of 11 counts of wire fraud and conspiracy. Here's what happens next

Founder & CEO of Theranos Elizabeth Holmes attends the Forbes Under 30 Summit at Pennsylvania Convention Center on October 5, 2015 in Philadelphia, Pennsylvania
(Image credit: Gilbert Carrasquillo/Getty Images)

Was Elizabeth Holmes sentenced? The former Theranos founder and subject of The Dropout on Hulu learned her fate on November 18, 2022. 

Prior to hearing from the judge, she made a tearful statement in the courtroom, according to CNN

"I loved Theranos. It was my life’s work," she said. "The people I tried to get involved with Theranos were the people I loved and respected the most. I am devastated by my failings."

Was Elizabeth Holmes sentenced?

According to CNN, Holmes will serve more than 11 years behind bars. Additionally, she'll be under three years of supervision after being released, and she is expected to pay a fine of $400, or $100 for each count of fraud.

In early 2022, shortly before The Dropout was available for streaming, Holmes was found guilty on four out of 11 counts of wire fraud and conspiracy, all of which could have resulted in 20 years of prison, according to The New York Times. Until her sentencing, she remained free on a $500,000 bond secured by property. She resided in California with her boyfriend, Billy Evans, and their baby, according to The Wall Street Journal

Holmes’ defense team asked the judge to sentence her to up to 18 months of incarceration followed by probation and community service, CNN further reports.

What happened to Elizabeth Holmes?

It seemed, both in reality and on TV screens, that Holmes was destined for glory. The brilliant student decided to end her time at Stanford University, as she was determined to uncover a progressive new take on blood testing instead of finishing her degree. With nods to Bill Gates and Mark Zuckerberg, the young chemical engineer seemingly made it all work. Theranos gained fame in 2015 and was applauded for its noble efforts.

"Every time you create something new, there should be questions," Holmes famously said. "And to me, that's a sign that you've actually done something that is transformative."

Once those questions emerged, however, the company and its founder—whom Amanda Seyfried plays in the Hulu series—were exposed. It turned out that Holmes misled investors and the government through false or exaggerated claims about the efficacy and accuracy of Theranos' blood-testing technology. In 2018, the company collapsed and Holmes was convicted of fraud and conspiracy charges. Everything she had done had been built on lies.

What happens next?

According to CNN, restitution will be set at a later date. Holmes was ordered to turn herself into custody on April 27, 2023.

Holmes' work was a heavy topic of conversation in 2022, particularly when the fictionalized version of her story hit Hulu. But our interest in deception didn't stop with Theranos. Our TV schedules at the time of the premiere also included  The Tinder Swindler in all of its unimaginable glory and the chaotic Inventing Anna

All eyes will return to Holmes come April 2023.

Danielle Valente
Digital News Writer

Need a TV show recommendation? Maybe a few decor tips? Danielle, a digital news writer at Future, has you covered. Her work appears throughout the company’s lifestyle brands, including My Imperfect Life, Real Homes, and woman&home. Mainly, her time is spent at My Imperfect Life, where she’s attuned to the latest entertainment trends and dating advice for Gen Z.

Before her time at Future, Danielle was the editor of Time Out New York Kids, where she got to experience the best of the city from the point of view of its littlest residents. Before that, she was a news editor at Elite Daily. Her work has also appeared in Domino, Chowhound, and amNewYork, to name a few. 

When Danielle’s not writing, you can find her testing out a new recipe, reading a book (suggestions always welcome), or rearranging the furniture in her apartment…again.