Current:Home > reviewsElizabeth Holmes Begins 11-Year Prison Sentence in Theranos Fraud Case -WealthGrow Network
Elizabeth Holmes Begins 11-Year Prison Sentence in Theranos Fraud Case
View
Date:2025-04-12 10:56:44
Elizabeth Holmes is officially facing the music for her crimes.
The former Theranos CEO reported to prison on May 30, six months after being sentenced to 11.25 years behind bars and three years of supervised release for her role in the fraud case involving her blood testing company.
According to the Associated Press, citing the Federal Bureau of Prisons, Holmes is currently in custody at a women's prison camp in Bryan, Texas.
Holmes, 39, was previously found guilty of one count of conspiracy to commit wire fraud and three counts of wire fraud in Jan. 2022 for allegedly deceiving Theranos investors.
"The guilty verdicts in this case reflect Ms. Holmes' culpability in this large scale investor fraud and she must now face sentencing for her crimes," U.S. Attorney Stephanie Hinds in a 2022 statement after the months-long trial. "I thank the jurors for their thoughtful and determined service that ensured verdicts could be reached."
(At the time, Holmes was also found not guilty of the second count of conspiracy to commit wire fraud and the jury reached no verdict on three more counts of wire fraud.)
While Theranos—founded in 2003 by the Stanford University dropout—was initially touted for its alleged finger prick blood testing method, it made headlines in 2015 after The Wall Street journal reported that the company's devices didn't perform as expected.
Not to mention, per the U.S. Attorney's Office, Holmes was accused of making "numerous misrepresentations" about her company.
Over time, Theranos' fallout have become the subject of books, documentaries and even the 2022 TV series, The Dropout, starring Amanda Seyfried as Holmes.
"I was told [Holmes] wasn't gonna watch it," Seyfried told Marie Claire in May 2022, "that it was bad news, and that she didn't want any part of it. I don't know if it's totally true. Who knows? I'm a little skeptical of any information that comes my way."
A few weeks before reporting prison to prison, Holmes—who gave birth to her and partner Billy Evans' second child in February—reflected on her bumpy history.
"I made so many mistakes and there was so much I didn't know and understand," she told the New York Times in a piece published May 12, "and I feel like when you do it wrong, it's like you really internalize it in a deep way."
As for how she was preparing for her prison sentence, Holmes noted she was spending time with her family. "How would you spend your time if you didn't know how much time you had left?" she said. "It would be the kind of things we're doing now because they're perfect. Just being together."
For the latest breaking news updates, click here to download the E! News AppveryGood! (9396)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Georgia’s lieutenant governor wants to pay teachers $10,000 a year to carry guns at school
- Mike Johnson, a staunch conservative from Louisiana, is elected House speaker with broad GOP support
- Born after Superstorm Sandy’s destruction, 2 big flood control projects get underway in New Jersey
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Six-week abortion ban will remain in Georgia for now, state Supreme Court determines
- Celtics, Bucks took sledgehammer to their identities. Will they still rule NBA East?
- International terror defendants face longer prison terms than domestic counterparts, new study finds
- A White House order claims to end 'censorship.' What does that mean?
- Experts reconstruct the face of Peru’s most famous mummy, a teenage Inca sacrificed in Andean snow
Ranking
- Tom Holland's New Venture Revealed
- As student loan repayment returns, some borrowers have sticker shock
- GM earned more than $3 billion in profit, even after hit from UAW strike
- Trump lawyers mount new challenges to federal 2020 elections case
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- 'The Voice': Gwen Stefani threatens to 'spank' singer Chechi Sarai after 'insecure' performance
- Hong Kong cuts taxes for foreign home buyers and stock traders as it seeks to maintain global status
- Senate panel OKs Lew to be ambassador to Israel, and a final confirmation vote could come next week
Recommendation
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
Abracadabra! The tale of 'The World’s Greatest Magician' who vanished from history
Kelsea Ballerini and Chase Stokes Are Feeling Obsessed at TIME100 Next 2023 Red Carpet Event
A new RSV shot could help protect babies this winter — if they can get it in time
Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
Man killed himself after Georgia officers tried to question him about 4 jail escapees, sheriff says
Survey finds that US abortions rose slightly overall after new restrictions started in some states
FDA says the decongestant in your medicine cabinet probably doesn't work. Now what?