Theranos creator Elizabeth Holmes shows up to start serving her jail sentence for defrauding financiers in the stopped working blood-testing start-up, at the Federal Prison Camp in Bryan, Texas, May 30, 2023.
Disgraced Theranos CEO Elizabeth Holmes reported to jail Tuesday to start her more than 11- year sentence for defrauding financiers about the abilities of her business’s blood-testing innovation.
U.S. District Judge Edward Davila bought Holmes to give up no behind 2 p.m. regional time Tuesday at a minimum-security center in Bryan, Texas, in a judgment previously this month. The judgment followed a day after an appeals court turned down Holmes’ quote to avoid of jail while she appeals her conviction.
Holmes, 39, has 2 kids with her existing partner, William “Billy”Evans Her 2nd kid was born previously this year after her sentencing in November 2022.
A federal jury in San Jose, California, founded guilty Holmes on 4 counts of defrauding financiers in Theranos, the business she left of Stanford University to discovered in2003 In another judgment this month, Davila bought Holmes and previous Theranos executive Ramesh “Sunny” Balwani pay $452 million in restitution to victims.
Balwani and Holmes, previous romantic partners, helmed Theranos throughout its meteoric increase. At its peak, Theranos was valued at more than $9 billion and brought in backers varying from the DeVos household to news tycoon RupertMurdoch It was among Murdoch’s publications, The Wall Street Journal, that initially reported on abnormalities with Theranos’ allegedly advanced blood-testing devices.
Balwani was founded guilty on 12 counts of wire scams and conspiracy to devote wire scams. He is serving his almost 13- year sentence in a jail in Southern California.
Holmes’ legend started when she imagined running numerous lab tests with simply a finger prick of blood. The concept was to make blood tests less expensive, easier and available to customers, however Theranos’ innovation eventually showed to be defective and undependable.
Patients were offered incorrect test results connecting to conditions such as HIV, cancer and miscarriages. In closing arguments throughout Holmes’ trial, district attorneys argued she “chose fraud” over “failure.”