Theranos Elizabeth Holmes will spend her last free weekend this week before beginning an 11-year sentence in prison. At one point, she was the youngest female millionaire in the US and was dubbed the “next Steve Jobs.” Elizabeth Holmes might easily be the next prisoner to enter a federal facility on Thursday.
Judge Edward Davila suggested that Holmes serve her time at the Federal Prison Camp in Bryan, Texas, at her sentencing in November. She will be accompanied there by about 540 female offenders who have been found guilty of federal white-collar offenses.
The 38-year-old was found guilty of four counts of fraud after tricking investors out of $9 billion and taking advantage of thousands of patients with fake and faulty medical reports.
Theranos was started by a Stanford University dropout who was 19 years old when she defrauded thousands of patients by making false claims that her company could perform a wide variety of medical tests using blood from a straightforward finger prick. During her trial, which was postponed after the birth of her son William in July 2021, Holmes vehemently denied fraud. Throughout her appeals to investors and other people, she insisted that she was honest.
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During her trial, which was postponed after the birth of her son William in July 2021, Holmes vehemently denied fraud. Throughout her appeals to investors and other people, she insisted that she was honest.
On November 17, Holmes’ relatives and friends sent the court heartfelt messages and numerous pictures. One of Evans’ 137 letters begged for forgiveness. However, requests to keep Holmes free were ignored. The following day, Holmes was given an 11-year, 3-month prison term by Judge Davila.
When Holmes read her statement to the court, she started crying. Although Holmes attorneys had just requested 18 months of house arrest, her sentence was unusually longer than the nine years recommended by the probation officer assigned to the case.
Holmes, under stringent staff supervision, will be allowed weekend visits and up to 300 minutes of the prepaid phone over the majority of the year.
In a 132-filing on Monday, Holmes defense team stated that the federal prosecutor’s case ‘parroted the public narrative’ that she had been willfully untruthful to investors.
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Who are the Theranos investors who were defrauded by Elizabeth Holmes?
