Last Updated: May 18, 2023, 03:24 IST
Theranos founder Elizabeth Holmes arrives together with her household and accomplice Billy Evans to be sentenced on her convictions for defrauding traders within the blood testing startup on the federal courthouse in San Jose, California, U.S., November 18, 2022. (Reuters)
Elizabeth Holmes was sentenced to simply over 11 years in jail for defrauding traders together with her Silicon Valley start-up Theranos
Fallen US biotech star Elizabeth Holmes should start serving jail time after a choose denied her newest request to stay free whereas interesting her fraud conviction.
Holmes was sentenced to simply over 11 years in jail for defrauding traders together with her Silicon Valley start-up Theranos.
She was scheduled to start doing time behind bars in late April, however her legal professionals lodged a last-minute enchantment on procedural points after an earlier try was denied.
US Judge Edward Davila on Tuesday denied the brand new request and in a separate ruling ordered Holmes and her prime Theranos lieutenant, Ramesh “Sunny” Balwani, to pay $452 million to victims of their fraud.
Holmes is to report to prison on May 30 to begin serving her sentence, Davila said in a written order.
According to media reports, the judge has recommended that she do her time at a women’s prison in Texas.
Holmes was discovered accountable of duping traders into believing that she had developed a revolutionary medical gadget.
The 39-year-old became a star of Silicon Valley when she said her start-up was perfecting an easy-to-use test kit that could carry out a wide range of medical diagnostics with just a few drops of blood.
But her company flamed out after a Wall Street Journal investigation into the validity of the tests.
Holmes had a child shortly before her trial and has had a second since her conviction.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – AFP)
