In November, a judge sentenced Elizabeth Holmes to 11 years and three months in prison for deceiving investors with fake technology|Public Domain Mark 1.0
Elizabeth Holmes, the founder of Theranos, lost her bid to remain free on bail while she appeals her fraud conviction. She must report to prison as scheduled later this month.
In November, US District Judge Edward Davila sentenced Holmes to 11 years and three months in prison for deceiving investors in her blood-testing startup with fake technology.
Holmes claimed that her startup’s small machines could run a wide range of diagnostic tests with just a few drops of blood. Theranos was once valued at $9 billion. It is estimated, she scammed investors of $121 million.