Elizabeth Holmes, 39, the discredited CEO of Theranos, faces imprisonment as an appeals court dismissed her request to stay out of prison while she attempts to overturn her conviction. Holmes was found guilty of her involvement in a fraudulent blood-testing scheme that briefly elevated her to fame and fortune.
Nearly three weeks after Elizabeth Holmes employed a last-minute legal tactic to postpone the commencement of her 11-year prison term, the Ninth Circuit Court of Appeals issued a ruling.
The Sentence for Holmes
As a result of her sentence, Holmes will be separated from her present partner, William “Billy” Evans, as well as their 1-year-old son, William, and 3-month-old daughter, Invicta.
U.S. District Judge Edward Davila has suggested that Holmes serve her sentence at a women’s correctional facility in Bryan, Texas. Whether the federal Bureau of Prisons has accepted Davila’s recommendation or assigned Holmes to an alternative institution has not been disclosed.
Holmes’s legal team has been vigorously challenging her conviction, citing alleged errors and misconduct that transpired during her trial.
Recall: What did she do?
The 46-day trial of Elizabeth Holmes shed light on the culture of greed and arrogance that permeated Silicon Valley as technology grew to be a more pervasive force in society and the economy over the past two decades.
In addition to recounting her establishment of Theranos after leaving Stanford University in 2003, she accused her former partner, Balwani, of subjecting her to emotional and sexual abuse.
She maintained her unwavering belief that Theranos would revolutionize healthcare promising to detect hundreds of diseases and potential health issues with just a few drops of blood.
Holmes managed to raise nearly $1 billion from a notable list of investors. Unfortunately, all investors lost their money after an investigation by the Wall Street Journal and subsequent regulatory reviews revealed critical flaws in Theranos’ technology.
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