Prosecutors want ex-Theranos CEO Elizabeth Holmes in prison right now. In November 2022, Holmes was sentenced to 11 years in prison after being found guilty on four wire fraud-related counts for her role in deceiving investors. She became a billionaire after starting the blood testing startup company, Theranos, and was eventually busted.
Happening Now
Holmes is expected to turn herself in to start an 11-year prison sentence in April 2023. However, prosecutors are fighting back against the ruling in a recent filing with a California court. This comes after Holmes filed an appeal last month. Prosecutors say Holmes still shows no remorse while living a cushiony life on an estate costing $ 13,000 a month.
Another reason prosecutors are pushing for Holmes to begin her prison sentence sooner is their claims that she is still a flight risk. Holmes requested to relax her travel restrictions while not in prison. She claims the reason is her partner’s work schedule. However, Holmes previously stated his salary was $0, and then she said he pays the bills monthly. This raises red flags that Holmes may consider running, and it wouldn’t be the first time. Nearly a year ago, while waiting for a jury’s verdict, Holmes booked a one-way flight to Mexico. The plan was canceled after government officials found out. The bottom line is prosecutors are arguing Holmes needs to start serving her time now and that there is only one justice system. There is not a separate system for the wealthy.
Elizabeth Holmes’s Rise & Fall
Holmes was a Stanford University dropout who announced she created a groundbreaking technology that could scan hundreds of conditions with just a few drops of blood. Holmes appeared to have done something that scientists worldwide had been trying to do for years. After convincing investors the technology worked, Holmes was able to gain nearly $1 billion in investments. Holmes eventually became a billionaire and was labeled a Silicon Valley star. Eventually, journalists and others became skeptical. Whistleblowers got wind of what was happening, and Holmes found herself in a courtroom trying to avoid jail time.
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