Former Theranos CEO Elizabeth Holmes (C) gets to federal court with her partner Billy Evans (R) and mom Noel Holmes on November 18, 2022 in San Jose, California.
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Elizabeth Holmes, the disgraced CEO of Theranos, need to report to jail May 30, according to a judgment provided Wednesday by U.S. District Judge EdwardDavila The judge purchased Holmes to report no behind 2 p.m. regional time on that day, and she is anticipated to start her sentence at a minimum-security center in Bryan, Texas.
On Tuesday, an appeals court declined Holmes’ quote to avoid of jail while she appeals her conviction. In another judgment Tuesday, Davila purchased that Holmes and previous Theranos executive Ramesh “Sunny” Balwani pay $452 million in restitution to victims.
Last year, a federal jury in San Jose, California, founded guilty Holmes on 4 counts of defrauding financiers in Theranos, her blood-testing business, and in November, Davila sentenced her to 11 years and 3 months in jail. Balwani was sentenced to almost 13 years in jail in July, after being founded guilty of 12 counts of scams, and started his sentence in April.
Holmes, 39, has 2 kids, the very first of whom was born prior to her scams trial in2021 The second was born after her sentencing.
Holmes established Theranos in 2003, and she and Balwani went on to raise more than $700 million from financiers “through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business and financial performance,” according to a filing by the U.S. Securities and Exchange Commission in2018 That exact same year, a grand jury returned an indictment charging Holmes and Balwani with defrauding physicians and clients, likewise declaring that they “made numerous misrepresentations to potential investors about Theranos’s financial condition and its future prospects.”