Blog

Nov 01, 2023

Elizabeth Holmes, the Theranos founder headed to prison: What to know

Elizabeth Holmes must report to prison May 30 to begin serving her 11-year

Elizabeth Holmes must report to prison May 30 to begin serving her 11-year sentence for fraud and conspiracy, a judge ruled, after a court rejected her 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. She 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.

Elizabeth Holmes, disgraced Theranos founder, reports to prison

Here's what to know.