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source link: https://www.washingtonpost.com/technology/2023/05/18/elizabeth-holmes-prison-time/
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Theranos founder Elizabeth Holmes is going to prison. Here’s what to know.
Elizabeth Holmes must report to prison on May 30 to begin serving her 11-year sentence for fraud and conspiracy, a judge ruled, after a court rejected Holmes’s bid to remain free while she appeals her conviction.
Holmes, 39, is the founder of Theranos, a blood-testing start-up that failed after a public scandal. Holmes rose to prominence as a health-care innovator and self-made business executive, only to fall from grace when the Wall Street Journal revealed in 2015 that her technology did not work as advertised.
In 2018, federal authorities began building a case around allegations that Holmes lied to investors about her company’s ability to deliver on its promise to provide patients with fast, cheap and reliable blood-test results using only small quantities of their blood. She was found guilty last year of four counts of wire fraud and conspiracy to commit wire fraud.
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