Elizabeth Holmes sentenced to 11 years in prison for her Theranos fraud

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The former billionaire is now serving his prison sentence after it has been revealed that his blood-testing company did not achieve the success it claimed.

Elizabeth Holmes, the founder and CEO of disgraced blood-testing company Theranos, has pleaded guilty to three counts of wire fraud, as well as conspiracy to commit fraud with her co-founder Sunny Balwani.

On November 18, 2022, he was sentenced to 135 months, or about 11½ years, in prison for defrauding 10 victims out of $121 million. She is appealing against the verdict. However, a judge determined that he and Balwani owe $452 million to the victims of their fraud.

On 30 May, Holmes reported to prison to serve his sentence.

Theranos was once worth $9 billion, and Holmes was the darling of Silicon Valley, sporting black turtlenecks that inspired comparisons to Steve Jobs.

changed after john carreiro exposed Posted in Wall Street Journal. In that article, Carreiro wrote that Theranos was only using its own equipment for some tests and that other employees were concerned that the equipment was not accurate.

then it turned out Theranos’ labs weren’t goodand partnership with safeway And Walgreens split. Too, Theranos junked two years of assets Exam result. After all, Holmes was banned the operation of laboratoriesAnd Theranos dissolved in 2018,