Disgraced Theranos CEO Elizabeth Holmes will remain free through the Memorial Day weekend before surrendering to authorities on May 30.
Former Theranos CEO Elizabeth Holmes, left, and her partner, Billy Evans, leave federal court in San Jose, on March 17, 2023.In Wednesday’s filing, Holmes’ lawyers didn’t disclose the location of the prison that she has been assigned to serve her sentence. But they noted she has to prepare to travel outside of California, where she has been living in the San Diego area while free on bail. Davila has recommended that Holmes be imprisoned in Bryan, Texas.
When Holmes is finally incarcerated, it will bring down the curtain on a saga that cast a bright light on a dark chapter in Silicon Valley that brought her fame and fortune before her scandalous downfall. After dropping out of Stanford University in 2003 to found Theranos while still a teenager, Holmes promised to revolutionize healthcare with a technology that she promised would be able to scan for hundreds of diseases and other potential problems with just a few drops of blood. The idea helped her raising nearly $1 billion from sophisticated investors that included Oracle co-founder Larry Ellison and media mogul Rupert Murdoch, who is owed $125 million under the restitution order.
But Theranos’ blood tests never came close to working the way Holmes had boasted with the support of Balwani, resulting in the company’s collapse and a tale that has been the subject of a book, “Bad Blood,” an HBO documentary, “The Inventor,” and a Hulu mini-series, ”The Dropout,” which won Amanda Seyfried an Emmy in the starring role.
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