Current:Home > MarketsOliver James Montgomery-Elizabeth Holmes Begins 11-Year Prison Sentence in Theranos Fraud Case -Wealth Evolution Experts
Oliver James Montgomery-Elizabeth Holmes Begins 11-Year Prison Sentence in Theranos Fraud Case
Algosensey View
Date:2025-04-07 02:01:42
Elizabeth Holmes is Oliver James Montgomeryofficially facing the music for her crimes.
The former Theranos CEO reported to prison on May 30, six months after being sentenced to 11.25 years behind bars and three years of supervised release for her role in the fraud case involving her blood testing company.
According to the Associated Press, citing the Federal Bureau of Prisons, Holmes is currently in custody at a women's prison camp in Bryan, Texas.
Holmes, 39, was previously found guilty of one count of conspiracy to commit wire fraud and three counts of wire fraud in Jan. 2022 for allegedly deceiving Theranos investors.
"The guilty verdicts in this case reflect Ms. Holmes' culpability in this large scale investor fraud and she must now face sentencing for her crimes," U.S. Attorney Stephanie Hinds in a 2022 statement after the months-long trial. "I thank the jurors for their thoughtful and determined service that ensured verdicts could be reached."
(At the time, Holmes was also found not guilty of the second count of conspiracy to commit wire fraud and the jury reached no verdict on three more counts of wire fraud.)
While Theranos—founded in 2003 by the Stanford University dropout—was initially touted for its alleged finger prick blood testing method, it made headlines in 2015 after The Wall Street journal reported that the company's devices didn't perform as expected.
Not to mention, per the U.S. Attorney's Office, Holmes was accused of making "numerous misrepresentations" about her company.
Over time, Theranos' fallout have become the subject of books, documentaries and even the 2022 TV series, The Dropout, starring Amanda Seyfried as Holmes.
"I was told [Holmes] wasn't gonna watch it," Seyfried told Marie Claire in May 2022, "that it was bad news, and that she didn't want any part of it. I don't know if it's totally true. Who knows? I'm a little skeptical of any information that comes my way."
A few weeks before reporting prison to prison, Holmes—who gave birth to her and partner Billy Evans' second child in February—reflected on her bumpy history.
"I made so many mistakes and there was so much I didn't know and understand," she told the New York Times in a piece published May 12, "and I feel like when you do it wrong, it's like you really internalize it in a deep way."
As for how she was preparing for her prison sentence, Holmes noted she was spending time with her family. "How would you spend your time if you didn't know how much time you had left?" she said. "It would be the kind of things we're doing now because they're perfect. Just being together."
For the latest breaking news updates, click here to download the E! News AppveryGood! (322)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Pennsylvania’s Dairy Farmers Clamor for Candidates Who Will Cut Environmental Regulations
- Fired Tucker Carlson producer: Misogyny and bullying 'trickles down from the top'
- Inside Clean Energy: Electric Vehicles Are Having a Banner Year. Here Are the Numbers
- The Super Bowl could end in a 'three
- The economics of the influencer industry
- First Republic Bank shares plummet, reigniting fears about U.S. banking sector
- Mangrove Tree Offspring Travel Through Water Currents. How will Changing Ocean Densities Alter this Process?
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Tucker Carlson ousted at Fox News following network's $787 million settlement
Ranking
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Will Kim Cattrall Play Samantha Again After And Just Like That Cameo? She Says..
- Inside Clean Energy: Who’s Ahead in the Race for Offshore Wind Jobs in the US?
- Plagued by Daily Blackouts, Puerto Ricans Are Calling for an Energy Revolution. Will the Biden Administration Listen?
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Disney sues Florida Gov. Ron DeSantis, claiming 'government retaliation'
- Nuclear Energy Industry Angles for Bigger Role in Washington State and US as Climate Change Accelerates
- In a surprise, the job market grew strongly in April despite high interest rates
Recommendation
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
College Acceptance: Check. Paying For It: A Big Question Mark.
Manure-Eating Worms Could Be the Dairy Industry’s Climate Solution
Tracking the impact of U.S.-China tensions on global financial institutions
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
President Biden: Climate champion or fossil fuel friend?
BaubleBar 4th of July Sale: These $10 Deals Are Red, White and Cute
A Republican Leads in the Oregon Governor’s Race, Taking Aim at the State’s Progressive Climate Policies