Elizabeth Holmes, the founder of Theranos, has started serving her 11-year sentence in a Texas federal prison after defrauding investors.[0] A former Silicon Valley star, Holmes was once known for her revolutionary blood-testing technology, which promised to diagnose complex medical conditions with just a few drops of blood.[1] However, the company’s technology was exposed as unreliable and ultimately led to its downfall. In January 2022, Holmes was found guilty on four counts of wire fraud for defrauding high-profile investors such as Rupert Murdoch and the Walton family of Walmart fame.[2] She was sentenced to 11 years and three months in prison, and ordered to pay $452m in restitution to victims of the fraud.[3] Holmes had repeatedly tried to delay her incarceration, but her appeals were rejected.[4] She will serve her sentence at a women’s prison camp located in Bryan, Texas.[3]
0. “Theranos founder Elizabeth Holmes begins 11-year prison sentence” Yahoo Finance, 30 May. 2023, https://finance.yahoo.com/news/theranos-founder-elizabeth-holmes-begins-11-year-prison-sentence-184235361.html
1. “Elizabeth Holmes reports to Texas prison, inmates excited” mySA, 30 May. 2023, https://www.mysanantonio.com/news/local/article/texas-prison-elizabeth-holmes-18125485.php
2. “Theranos founder Elizabeth Holmes begins 11-year prison sentence” New York Daily News, 30 May. 2023, https://www.nydailynews.com/news/national/ny-elizabeth-holmes-theranos-prison-20230530-pievep6eyvclhbphvjqkdbbiby-story.html
3. “‘People wanted to believe the fairytale’: the downfall of Elizabeth Holmes” The Guardian US, 30 May. 2023, https://www.theguardian.com/us-news/2023/may/30/elizabeth-holmes-enters-prison-11-year-sentence
4. “Theranos founder Elizabeth Holmes turns herself in for 11-year prison term” The Guardian, 30 May. 2023, https://www.theguardian.com/technology/2023/may/30/theranos-elizabeth-holmes-prison-sentence-start