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Judge sentences Elizabeth Holmes to over 11 years in prison

Original post made on Nov 18, 2022

A federal judge sentenced Theranos founder and CEO Elizabeth Holmes to 11 years and three months in prison on Friday, citing the need for investors in Silicon Valley startups to be able to take "risks free from fraud."

Read the full story here Web Link posted Friday, November 18, 2022, 4:23 PM

Comments (3)

Posted by JAFO
a resident of Old Mountain View
on Nov 18, 2022 at 7:53 pm

JAFO is a registered user.

Just an observation,

Many legal experts are starting raise warnings regarding the mentality of "FAKE IT TILL YOU MAKE IT" and "FEAR OF MISSING OUT" investment and business practices here in the valley.

In fact prosecutors are openly saying this is likely not the end of prosecutions, there are many more to follow given the meltdowns in businesses like Uber, Lyft, WeWork, AirBNB and so many GIG companies.

So either these groups remain only private investments, or stop trying to become "legitimate" by suckering stock investments.

Posted by Johnny Yuma
a resident of Blossom Valley
on Nov 19, 2022 at 8:59 am

Johnny Yuma is a registered user.

The difference in this fraud case is that Holmes ruthlessly put lives at risk. “Accountability” is a thing that many people are unwilling to accept…

Posted by JAFO
a resident of Old Mountain View
on Nov 20, 2022 at 12:43 pm

JAFO is a registered user.

Just an observation,

I agree with above, the model of having Limited Liability Companies and Corporations was designed to encourage FRAUD. I have 2 business degrees and even I admit that.

The ideas were NOBLE at first because of the idea that a community survival was risky at the time. Remember we are talking about the 18th Century, no internet, no railroads, no cars and no major worldwide enterprises.

But what happened is the slow frog in the pot situation. The frog had no idea how hot the water was because it was rising very slowly. But now it is actually hyperboiling.

These entities were based on people being limited in their damage to the rest of the economy. So it was never a problem. Then came TOO BIG TO FAIL.

This example should set off a major reform in this kind of business standards. We need to start eliminating any limited liability for either FRAUD or UNSAFE practices. These corporate protections need to be reformed so that no more of these kinds of businesses can occur again. To see as much as $8Billion get burned up in this case, and look at WorldCom, Enron, and so many others.

The damages these people do is FAR WORSE than in some cases war crimes. Yet they get preferential treatment under the law. The facts are business kill and disable so many people and never are accountable for it. TIME FOR THAT TO END.

A drug dealer can be sent to life in prison by only harming maybe 1000 people, but then you have people like this that hurt millions.

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