Holmes to start prison sentence

 

Theranos founder Elizabeth Holmes will report to prison on Tuesday to serve an 11-year, three-month sentence for wire fraud related to her failed blood-testing startup.  Holmes will report to FPC Bryan, a minimum-security prison camp in Bryan, Texas, about 90 minutes outside of Houston. Her case has become a symbol of the "growth at all costs" mentality that has permeated the tech industry. Holmes, who dropped out of Stanford to start Theranos, promised revolutionary blood-testing technology that was later exposed as faulty, relying on third-party devices instead. In 2022, Holmes was found guilty of four of 11 criminal-fraud charges and received an 11-year prison sentence. Holmes' request to stay free while appealing was denied, and she was ordered to report to prison by May 30. Her former partner, Ramesh "Sunny" Balwani, has also been convicted, and the two were ordered to pay a combined $452M in restitution to victims. Holmes, now a mother of two, will be under supervision for three years after serving her sentence.