Convicted fraudster Elizabeth Holmes must report to prison, judge rules
Enlarge / Former Theranos CEO Elizabeth Holmes alongside her partner Billy Evans, leaves a hearing at the Robert E. Peckham US Courthouse on March 17, 2023, in San Jose, California. (credit: Getty | Philip Pacheco)
Theranos founder Elizabeth Holmes must report to prison later this month as she appeals her conviction of three counts of defrauding investors, a judge ruled Monday, denying her request to remain free on bail as her legal saga continues.
Holmes skyrocketed to fame in the early 2010s, falsely claiming her company's technology could accurately perform hundreds of medical tests with just a small drop of blood. In 2014, she was a Silicon Valley superstar, and the company was valued at more than $9 billion. But as technological failings and fraud claims came to light, the company imploded.
In 2018, Holmes was indicted on criminal charges and, last year, was convicted and sentenced to 135 months (11 years and three months) in prison. She has been ordered to report to prison on April 27. The judge in her case, US District Judge Edward Davila, has proposed that Holmes serve her sentence in a relatively cushy, minimum-security women's prison camp in Bryan, Texas, outside of Houston, though the decision of where she will serve is ultimately up to the US Bureau of Prisons.