Holmes was the founder and CEO of the start-up Theranos.
(Photo: AP)
Bryan Former businesswoman Elizabeth Holmes, convicted of fraud, began her more than 11-year sentence on Tuesday. The US prison administration confirmed to the radio station NPR, among others, that Holmes arrived at the facility in Texas as ordered.
A few weeks ago, an appeals court rejected her application to suspend her imprisonment until the appeal process had been completed.
Holmes was the founder and CEO of the start-up Theranos, with which she promised to revolutionize blood tests. With Theranos, only a few drops of blood are said to be sufficient for complex tests. Holmes was celebrated, Theranos reached a valuation of nine billion dollars (around 8.4 billion euros) in financing rounds.
Elizabeth Holmes became a billionaire – on paper
The founder thus became a billionaire on paper. But then it turned out that the technology didn’t work. Holmes and her top manager Ramesh Balwani were convicted of allegedly deceiving investors.
Holmes, who had two children during the trial, was originally scheduled to begin her 11-year, three-month sentence at the end of April. But with her application to suspend the start of detention for the duration of the appeal, this timetable was overturned.
Since Holmes had two children during the trial, she did not have to start her prison sentence at the end of April as planned, but only at the end of May.
(Photo: AP)
Most recently, the responsible judge Edward Davila set the amount that Holmes and Balwani owe investors at a good 452 million dollars. Balwani has already started his 13-year sentence.
More: Judgment in the fraud scandal: Elizabeth Holmes has more than eleven years in prison