Theranos founder, Elizabeth Holmes, is expected to surrender herself to a prison in Bryan, Texas for her incarceration today.
Holmes was sentenced to 11 years in prison for defrauding investors in Silicon Valley and developing a harmful blood-testing scam that risked the lives of many patients.
Elizabeth Holmes had earlier promised investors that her company would be revolutionary in the medical field as she claimed to have invented a technology that would detect 200 diseases at a time with just a small drop of blood. Although her story was met by skeptics, she was recognized for her invention, and Theranos and Elizabeth Holmes quickly became household names in Silicon Valley.
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Holmes’ scam was exposed by whistleblowers working at the startup company who reported that there was a lot of mishandling of blood drawn from patients. The supposed revolutionary invention that was attributed to Elizabeth Holmes was non-existent and the results that came out of Theranos were inaccurate.
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Despite having little knowledge of medicine, Holmes managed to convince several investors to invest in her company and defraud them for millions of dollars.
According to a court order issued during her sentencing, she was asked to report to prison no later than 2 p.m. on May 30. After serving her sentence, Elizabeth Holmes will be subject to three years of supervised release and be required to pay $452 million in compensation to the victims of the dangerous scam
