Elizabeth Holmes, the disgraced founder of Theranos, has been captured in an exclusive photo wearing her prison uniform as she begins serving her lengthy prison sentence
She surrendered to authorities on May 30 following her conviction in 2022 on four counts of fraud related to her medical startup that defrauded investors out of millions of dollars.
Reports indicate that Holmes will share a cramped, concrete cell with three other inmates at FPC Bryan, which is a minimum-security facility exclusively for women. Holmes’s attorneys had filed a lengthy appeal in April, seeking a reduction in her prison term, claiming the conviction was unjust and that she had no intention to deceive investors. However, her request to remain free during the appeals process was denied.
Holmes gained prominence in 2014 as the CEO of Theranos, a company that falsely claimed its technology could conduct numerous medical tests with only a small amount of blood
She faced a trial on 11 counts of fraud for misleading investors and patients. The jury ultimately found her guilty on four charges, including three counts of wire fraud and one count of conspiracy to commit wire fraud.
As Holmes begins her prison sentence, she joins a growing list of high-profile individuals from the business world who have faced legal consequences for their fraudulent actions.