HINDUSTANVIEW.COM

Elizabeth Holmes CEO of Theranos sent to prison for defrauding her investors.

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Holmes, 39 year-old mother of two was surrendered to federal prison in Texas to begin serving a 11 year term.

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At the age of 19, Holmes established Theranos. The company was once worth $9 billion, and Forbes magazine assessed her net worth $4.5 billion in 2015.

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Theranos was a biotech company that claimed to have developed a new blood testing technique, but the technology was ultimately found to be faulty.

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Holmes ex-boyfriend and former COO of Theranos Ramesh Sunny Balwani was also convicted for fraud and sent to prison in California.

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Holmes reportedly will not be declare bankruptcy, Prosecutors have already begun to seize her all assets including properties and money in the bank.

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Holmes was convicted for the first time in Jan 2022, and she was about to sentence in Nov, however the court document stated that she was pregnant with her second child.

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Holmes' pregnancies coincided with her criminal trial timeline, she have two kids born in 2021 and 2023, which was delayed several times as a result.