Elizabeth Holmes Officially Reports to Prison for Fraud After Theranos Scandal: Details
usmagazine.comTheranos founder Elizabeth Holmes reported to prison on Tuesday, May 30, after being sentenced to more than 11 years behind bars.Holmes, 39, has surrendered into custody at a federal women’s prison camp in Bryan, Texas, according to Associated Press.
The arrival comes more than a year after Holmes was found guilty on four counts of defrauding investors: three counts of wire fraud and one count of conspiracy to commit wire fraud.In November 2022, Judge Edward Davilla sentenced Holmes to 11 years and three months in prison.
The former CEO also faces three years of supervision upon her release, as well as a fine of $100 per each count of fraud, according to CNN.During the trial, Holmes apologized for her “failings” while admitting that she had failed her team.“I loved Theranos, it was my life’s work.
My team meant the world to me. They worked tirelessly,” Holmes told the judge. “Every day I have felt deep pain for what people went through because I failed them.
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