Holmes is being held at FPC Bryan, a minimum-security prison camp where former "Real Housewives of Salt Lake City" star Jen Shah is serving her federal wire fraud sentence for a telemarketing scam.Prosecutors accused Holmes of intentionally misleading investors and patients. Out of the more than 200 blood tests advertised, the in-house “Edison” machines could perform a very small number themselves and could not provide accurate results. Holmes is also alleged to have lied about the scale of the companys profits.Theranos Inc., a consumer healthcare technology startup, was once valued at $10 billion, and its leadership claimed it would revolutionize the blood-testing industry. The $10 billion valuation made the company a decacorn, a term that plays off the term unicorn, applied to $1 billion valued start-up companies.
Did Theranos get FDA approval : Theranos actually went through the 510(k) approval process for many of their tests, even though they weren't required as laboratory developed tests, but only one of them, a test for herpes virus, was approved by the FDA.
How long will Elizabeth actually serve
According to the agency's inmate locator, Holmes' release date is scheduled for Dec. 29, 2032. That means she is slated to serve 9 years and seven months. In November a judge sentenced Holmes, who was also CEO of the blood-testing company, to 11 years and three months behind bars.
Who is the CEO of Theranos : Elizabeth Holmes
Elizabeth Holmes, founder and CEO of Theranos, had famously dropped out of Stanford to found the company using her tuition money, and was just 30 when Theranos was at its peak.
The technology didn't exist. Theranos, despite all its flashy promises, wasn't actually able to run tests accurately in its device on a single drop of blood. Two years after the company closed its labs, its charismatic founder Elizabeth Holmes and former company president Sunny Balwani were indicted for fraud.
Theranos raised more than $700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. In 2016, Forbes revised the estimated net worth of the company to $800 million taking into account the $724 million of capital raised.
Who exposed Theranos
John Carreyrou
John Carreyrou's reporting led to the downfall of Theranos
But the technology never worked, and the claims were false. The downfall of Theranos began in 2015, when John Carreyrou, then an investigative reporter for The Wall Street Journal, exposed the company's false claims in a series of articles.The powerful testimonies he documented, along with other doggedly tracked-down details, helped paint a crystal-clear picture of how Theranos misled, and in some cases, physically or emotionally harmed, an untold number of U.S. patients.After vetting the information, Weber opted to keep Pfizer from partnering with or investing in Theranos. CNN reported, Weber said that during the telephone call he had with Holmes, he found her to be “deflective” and that she provided “evasive non-informative answers” to his questions.
Depending on how many earned time credits Holmes earns in the earlier years of her sentence, she can materially impact her early release date.
How rich is Elizabeth Holmes : What is Elizabeth Holmes' net worth So, what is Elizabeth Holmes' net worth today After the fall of Theranos, Elizabeth Holmes' net worth went from a reported $4.5 billion to $0 as of 2023, according to Forbes.
Was Theranos ever possible : The company claimed that it had devised blood tests that required very small amounts of blood and that could be performed rapidly and accurately, all using compact automated devices that the company had developed. These claims were proven to be false.
Did Theranos CEO go to jail
Elizabeth Holmes, who was sentenced to 11-and-a-half years in prison, will now spend just over nine years in prison. Holmes was convicted of fraud and conspiracy last November on multiple charges of defrauding investors while running the failed blood testing startup Theranos.
Theranos founder Elizabeth Holmes could leave prison a year and a half earlier than expected, Federal Bureau of Prisons records show. According to the agency's inmate locator, Holmes' release date is scheduled for Dec. 29, 2032. That means she is slated to serve 9 years and seven months.(KRON) — Two whistleblowers who helped blow the cover off Theranos' secretive blood lab and expose Elizabeth Holmes of fraud were recent college graduates who wanted to do the right thing. Tyler Shultz and Erika Cheung were low on Theranos' totem pole, working as entry-level lab techs. Holmes was their famous boss.
Who lost the most money on Theranos : Her wealthiest and most high profile victims include Rupert Murdoch, who lost $125m and the DeVos family – including Trump-era Education Secretary Betsy DeVos, who invested $100m.