Former businesswoman Elizabeth Holmes, convicted of fraud, began her more than 11-year prison sentence on Tuesday.
The U.S. prison administration confirmed to radio station NPR, among others, that Holmes had arrived at the Texas facility as per orders. A few weeks ago, an appeals court rejected her request to have her detention suspended until the appeals process was completed.
Holmes was the founder and CEO of the start-up Theranos, promising to revolutionize blood testing. With Theranos, just a few drops of blood would be enough for complex testing. Holmes was celebrated, Theranos reached a valuation of nine billion dollars (8.4 billion euros) in financing rounds. Holmes became a billionaire on paper. But then it turned out that the technique did not work. Holmes and her top manager Ramesh Balwani were convicted of allegedly misleading investors.
Originally, Holmes, who gave birth to two children during the trial, was scheduled to serve her sentence of 11 years and three months at the end of April. But with her request to suspend the start of detention for the duration of the appeal, this timetable was overturned.
Recently, the responsible judge Edward Davila set the amount that Holmes and Balwani owe to investors at a whopping $ 452 million. Balwani has already started his 13-year sentence.
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I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
