AssetID: 52777755
Headline: UNCAPTIONED: Theranos Founder Elizabeth Holmes Set to Begin Her 11-Year Prison Sentence
Caption: Theranos Founder Elizabeth Holmes Set to Begin Her 11-Year Prison Sentence. On May 30, disgraced Theranos founder Elizabeth Holmes is scheduled to report to prison to begin her sentence of at least 11 years. NBC reports that Holmes was found guilty of four counts of wire fraud last January. The conviction concluded a story that began in 2003 when Holmes founded the company she promised would diagnose a number of conditions with just a small amount of blood. Theranos, which was valued at over $9 billion, had a number of high-profile investors that included Rupert Murdoch and the Walton family. NBC reports that the company's board included two former secretaries of state, two former senators and former Defense Secretary James Mattis. In 2018, Holmes and Theranos COO Ramesh "Sunny" Balwani were charged with securities fraud by the Securities and Exchange Commission. In June of 2018, both Holmes and Balwani were indicted on federal fraud charges. NBC reports that Holmes is now due to report at a minimum-security prison in Texas. According to a recent New York Times profile on Holmes, she still holds on to her ambitious goal of contributing to the medical technology industry. "I still dream about being able to contribute in that space. I still feel the same calling to it as I always did and I still think the need is there.", Elizabeth Holmes, Former Theranos founder, via 'The New York Times’. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Theranos,founder,Elizabeth Holmes,11-year,prison sentence,jail,Texas,minimum security,fraud,four counts,guilty,blood sample,wire fraud,billionaire,billions of dollars
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