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The former billionaire is now serving her prison sentence after it was revealed that her blood-testing company hadn’t achieved the breakthroughs it claimed.

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Trial of Theranos’ Elizabeth Holmes: news, updates, and more

Elizabeth Holmes, the founder and CEO of disgraced blood-testing company Theranos, has been found guilty on three counts of wire fraud, as well as a count of conspiracy to commit fraud along with her co-founder Sunny Balwani.
On November 18th, 2022, she was sentenced to 135 months, or about 11 and a half years, in prison for defrauding 10 victims out of $121 million. She is appealing the ruling. However, a judge has determined that she and Balwani owe the victims of their fraud $452 million.
On May 30th, Holmes reported to prison to begin serving her sentence.
Theranos was once valued as high as $9 billion, and Holmes was a darling of Silicon Valley, sporting black turtlenecks that prompted comparisons to Steve Jobs.
That changed after John Carreyrou&rsquo;s expos&eacute; was published in The Wall Street Journal. In that article, Carreyrou wrote that Theranos was using its own device for only a handful of tests and that other employees were concerned that the device wasn&rsquo;t accurate.
Then it came out that Theranos&rsquo; labs weren&rsquo;t up to par, and its partnerships with Safeway and Walgreens fell apart. Also, Theranos junked two years&rsquo; worth of test results. Eventually, Holmes was banned from operating labs, and Theranos dissolved in 2018.

Holmes reported to jail on May 30th, 2023.

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