Elizabeth Holmes Goes to Jail

Holmes reported to Federal Medical Center Carswell in Fort Worth, Texas on July 1, 2023.

Carswell is a low-security prison with a population of about 1,000 inmates. Holmes is expected to serve 11 years in prison for her conviction on four counts of fraud and conspiracy to commit fraud.

She will be eligible for parole in 2034. Holmes's co-founder and former boyfriend, Ramesh "Sunny" Balwani, was also convicted on fraud charges and is scheduled to report to prison in September 2023.

Holmes founded Theranos, a blood testing company, in 2003. Theranos claimed to have developed a revolutionary new blood testing technology that could run hundreds of tests from a single drop of blood.

 it was later revealed that Theranos's technology was not as accurate as claimed. Holmes and Balwani were charged with fraud in 2018.

They were both found guilty in January 2022. Holmes's sentencing was delayed several times due to the COVID-19 pandemic.

She is the first woman to be convicted of fraud in a U.S. federal court.

Holmes's case has been widely publicized and has drawn comparisons to the cases of other high-profile fraudsters, such as Bernie Madoff and Martha Stewart.

Her conviction is a major setback for the Silicon Valley startup culture. It is a reminder that even the most promising startups can be built on false pretenses.

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