Theranos Founder Elizabeth Holmes To Begin 11-Year Prison Sentence

Elizabeth Holmes To Begin 11-Year Prison Sentence

Elizabeth Holmes, 39, is expected to report at the all-female prison camp in Bryan (Texas), about 100 miles from Houston.

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Holmes is being held in a Texas jail where she may spend the next 11 years. She was responsible for a blood testing hoax which became a parable of greed and hubris within Silicon Valley.

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Elizabeth had been on bail since 2022 when a jury convicted her on four felony counts of fraud and conspiracy.

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Holmes was a Silicon Valley star when she announced that her company had perfected an easy-to-use kit for medical diagnostics using only a few drops of blood.

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The hype around that alleged breakthrough helped Theranos to raise almost $1 billion from investors. It also turned Holmes into a tech celebrity with an estimated fortune of $4.5 billion in 2014.

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In addition to her prison sentence, she and former top Theranos executive Ramesh Sunny Balwani have been ordered to pay $452 million to the bilked investors.

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Prosecutors claim that she lied about Theranos Inc's technology from 2010 to 2015. She claimed it could perform many tests with just one drop of blood taken from a finger-prick. Theranos ultimately dissolved in September 2018

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