JUST IN: Theranos Founder Elizabeth Holmes Sentenced to 11 Years for Fraud

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Theranos Inc. founder Elizabeth Holmes was sentenced to more than 11 years in prison on Friday for defrauding investors out of hundreds of millions of dollars.

A federal judge in Northern California ruled Holmes must serve 11 years and three months in prison. She must then serve an additional three years of supervised release and pay a hefty fine. Holmes could also be forced to pay restitution after her now-defunct company accepted investments nearing $1 billion.

Holmes was convicted on three counts of wire fraud and an additional count of conspiracy in January. She faced up to 20 years but asked for a sentence of 18 months.

U.S. Attorney Stephanie Hinds celebrated the verdict in a statement obtained by CNN.

“The jurors in this 15-week trial navigated a complex case amid a pandemic and scheduling obstacles,” Hinds said. “The guilty verdicts in this case reflect Ms. Holmes’ culpability in this large-scale investor fraud, and she must now face sentencing for her crimes.”

Holmes notoriously raised money from venture capitalists and pushed what was portrayed as breakthrough blood testing technology. In 2018, Theranos went under after the company’s claims it could administer complex testing from a single drop of blood were found to be exaggerated.

During her trial, Holmes’s defense team argued she meant well while prosecutors portrayed her as someone who willingly and knowingly engaged in fraud.

Holmes, 27, founded the company in 2003 when she was 19 and was previously revered as one of Silicon Valley’s brightest minds.