Elizabeth Holmes must report to prison May 30
Elizabeth Holmes ordered to report to prison May 30
Elizabeth Holmes, the Theranos founder, has been ordered to report to prison on May 30 to begin her sentence for fraud. She has also been ordered to pay $420 million in restitution to investors and others misled by her deception about the tech company's blood testing equipment.
Theranos founder Elizabeth Holmes must begin her prison sentence for fraud on May 30.
A federal court rejected Holmes' request to stay out on bail while appealing her conviction for deceiving investors and others about the blood-testing equipment she hailed as a medical breakthrough.
It's unknown where she will be incarcerated, but it is expected to be a minimum-security facility in Texas.
In a separate court ruling, she was ordered to pay $452 million in restitution to victims hurt by the failed lab.
Holmes was sentenced to 11 years in prison. She was convicted in January of three counts of fraud and one count of conspiracy.