Disgraced After spending Memorial Day weekend free, former Theranos CEO Elizabeth Holmes will turn herself in on May 30 and begin serving a more than 11-year prison sentence for defrauding investors in a blood-testing scam.
After Holmes’ attorneys requested a new prison reporting date in a filing on Wednesday, U.S. District Judge Edward Davila approved the new date.
This came after a federal appeals court denied Holmes bail late Tuesday as she appealed her conviction on four counts of fraud and conspiracy from January.
Davila issued a separate ruling ordering Holmes to pay $452 million in restitution on Tuesday night, adding to the total cost of the punishment.
Holmes’s attorneys requested an additional two weeks before her May 30 prison reporting date to resolve many matters, including finding care for Holmes’ children, William, 1, and Invicta, 3 months.
Holmes had been due to report to prison on April 27, but she was granted a stay of execution in a last-ditch effort to allow her to spend some extra time regarding her children.
The 39-year-old Holmes became pregnant with William just before her high-profile trial began in September 2021, and with Invicta not long after she was found guilty of crimes carrying a maximum sentence of 20 years in prison.
William “Billy” Evans, who she met after her breakup with Ramesh “Sunny” Balwani, the father of her two children, who began serving a nearly 13-year prison sentence in Southern California last month.
The 57-year-old Balwani was living with Holmes and working as Theranos’ COO when he was found guilty of 12 counts of fraud and conspiracy.
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The prison location where Holmes will serve her sentence was not revealed in the filing made by her attorneys on Wednesday.
The woman has been living in the San Diego area all while out on bail, but authorities have said she must now get ready to travel out of state. Davila’s report, Holmes should be sent to the Bryan, Texas, prison.
Once Holmes is behind bars, the curtain will come down on a story that shines a light on a dark period in Silicon Valley’s history, illuminating the path to her fame, fortune, and scandalous downfall.
Holmes, who dropped out of Stanford University as a teenager in 2003 to found Theranos, claimed her company’s technology would transform healthcare by allowing doctors to screen patients for hundreds of diseases with a single blood sample.
You may also have a peek at CNN’s tweet below:
JUST IN: Former Theranos CEO Elizabeth Holmes must report to prison by May 30 after losing a last-minute bid to avoid starting her sentence https://t.co/dCeJuj3i7x
— CNN (@CNN) May 17, 2023
Oracle co-founder Larry Ellison and media mogul Rupert Murdoch, who is owed $125 million in restitution, were among the sophisticated investors who helped her raise nearly $1 billion thanks to her idea.
But Theranos’ blood tests never even came close to working the way Holmes had boasted with the help of Balwani, leading to the collapse of the company and a story that has been the subject of a book, “Bad Blood,” along with HBO documentary, “The Inventor,” and a Hulu mini-series, “The Dropout,” for which Amanda Seyfried won an Emmy.
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