Court orders Theranos founder Elizabeth Holmes to go to prison | Hacker News Reader

Court orders Theranos founder Elizabeth Holmes to go to prison

bbc.com

47 pointsonemoresoop10 comments

How is justice getting served in this case ?

>During her time leading the company, Holmes was able to raise millions of dollars from high-profile investors, including media mogul Rupert Murdoch, former Secretary of State Henry Kissinger and Oracle founder Larry Ellison.

Lesson - Should always invest where the rich and influential are investing. Taking them for a ride, hurts their ego, and they ensure the rest. See Bernie Madoff.

How do you propose people should be punished when they commit billion-dollar frauds and lie about the medical benefits of their fictitious products?

I am in favor of what was done here. But also, we need to understand how it was accomplished.

Will the same happen in FTX or tons of Web3 and Crypto scams where the common person lost their money ?

I doubt it.

She got off light compared to what the amount she scammed investors out of. Do a quick search and you'll find crypto scammers getting more years per $ scammed than she did.

Yes, the US judicial system has repeatedly demonstrated that it requires victimising the mega rich. The reason FTX is in deep water is because they scammed the mega rich, they happened to also scam "the common person", but they're under house arrest atm and likely heading to prison because they impacted the rich.

The fraud charges aren't being driven by losing their client's funds, it's due to them lying to the people and companies that were investing.

Are you not aware that the government is prosecuting the founders of FTX, with multiple execs taking plea deals?

Let us see when he is convicted and if he gets off with a light sentence or not.

The establishment's voice NYT has already tried to whitewash his 'crimes' https://www.nasdaq.com/articles/lets-talk-about-the-new-york...

He is trying to get rid of criminal charges https://www.ft.com/content/bbb43340-2ecb-43e7-8c4e-b563ec921...

He has donated to both parties. We will find out the ROI on those donations soon.

To me, it's good she's going to prison for fraud.

But I do recognize that white collar crimes like this are too often solved with a slap of a measly fine and nothing else. I think all crimes like this should be punished in an equivalent way to how we punish other crimes. Some countries do this to great success.

Murdoch bought in big for 125 million!

[1]: https://www.courtlistener.com/docket/7185174/1760/united-sta...

> Rupert Murdoch, former Secretary of State Henry Kissinger and Oracle founder Larry Ellison

Sounds like Holmes deserves a medal in addition to a prison sentence.

Reply on news.ycombinator.com