Elizabeth Holmes, the disgraced founder of the blood-testing company Theranos, turned herself in to Texas prison officials on Tuesday to begin her sentence.
The 39-year-old will be serving out a 11 year and three-month long prison sentence, with photos of her at a Federal Prison Camp in Bryan, Texas emerged.
© Getty ImagesThe former biotech entrepreneur was ordered to begin her sentence on May 30 after a court denied her latest request to remain free while appealing her fraud conviction for defrauding investors.
Following the downfall of her company that began with an expose by The Wall Street Journal in 2015, Holmes and her chief operating officer and president, Ramesh 'Sunny' Balwani, were charged with nine counts of wire fraud and three counts of conspiracy to commit wire fraud.
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Following a year-long wait due to COVID-19 restrictions and her pregnancy, Holmes' trial began in August 2021, and she was eventually found guilty on three counts of wire fraud, and one conspiracy to commit wire fraud.
© Getty ImagesTheranos, a company that was once hailed as a world-changing frontrunner in medical technology due to their blood testing tech – which turned out not to work properly – went from a $10 billion valuation in 2013 to an exponential low the following year after the misdeeds of the company were exposed, with Holmes' personal wealth being valued at next to nothing. Theranos was dissolved in 2018.
Holmes and partner Billy Evans, heir to the Evans Hotels, welcomed their second child, a daughter, in April, already parents to a son born in July 2021. Their daughter was conceived mere months after a jury convicted Holmes of fraud.
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Founded in 2003, Holmes and Balwani promised the implementation of a technology that would revolutionize healthcare with its ability to scan for diseases and other health ailments with just a few drops of blood.
The company immediately skyrocketed to become a Silicon Valley juggernaut, with Holmes becoming one of the most prominent names on the scene and possessing a net worth of nearly $4.5 billion according to Forbes in 2015, the youngest and wealthiest self-made female billionaire in the country.
© Getty ImagesHowever, it all came crashing down when a series of WSJ articles exposed serious flaws in their system and tech, with the U.S. Justice Department charging both Holmes and Balwani with a series of crimes.
After she was sentenced, she and Balwani were both fined $452 million to be paid to victims of the fraud. The latter was sentenced to 12 years and 11 months in prison, plus three years of probation, and turned himself in this April.
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Holmes' story has been told through several podcasts and a bestselling book, 2018's Bad Blood: Secrets and Lies in a Silicon Valley startup.
In the midst of litigation, the case received renewed attention last year thanks to the Hulu miniseries The Dropout, based on the podcast of the same name.
The show starred Amanda Seyfried as the disgraced founder, receiving critical acclaim and winning the actress her first Golden Globe and Primetime Emmy.
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