In 2014, Holmes was a 30-year-old Silicon Valley prodigy whose company, Theranos, promised to revolutionize the healthcare industry by providing medical diagnoses without protracted blood draws. She dropped out of Stanford in 2004 to establish her company, citing her fear of needles as motivation, and went on to become an innovator on par with Steve Jobs.
Theranos asserted that its Edison devices could detect diseases such as diabetes and other blood disorders using blood drawn from a single finger prick, as opposed to the conventional method of a needle prick and multiple vials of blood, which takes days or weeks to determine results.
In addition to raising $900 million from investors, Holmes was featured on the covers of prestigious publications such as Fortune and Forbes, and TIME named her one of its “100 Most Influential People.” John Carreyrou, an investigative reporter for the Wall Street Journal, revealed in 2015 that the Edison devices did not function, that Theranos relied on older technology for the majority of its testing, and that Holmes was essentially a fraud.
In 2018, her company failed, and Holmes was charged with multiple counts of fraud and fraud conspiracy.
Where Is Elizabeth Holmes Now?
Elizabeth Holmes will be incarcerated beginning on April 27, 2023. On January 3, 2022, Holmes was judged guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud.
In September 2022, she was sentenced to more than 11 years in prison. In a decision dated April 10, 2023, U.S. District Judge Edward J. Davila denied her attorneys’ request to suspend her sentence pending the outcome of her appeal. On April 27, the judge ordered Holmes to report to prison.
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What Were the Charges Against Theranos’ Elizabeth Holmes?
Holmes and Balwani were each charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. The accusations of fraud originate from claims made to investors, physicians, and patients by Theranos about their new technology, which promised rapid results from small blood draws. The fraud resides in the claims themselves; however, the actual crime is the money obtained as a direct result of the claims.
The prosecution of Holmes was postponed in 2021 due to the COVID-19 pandemic and Holmes’ pregnancy. Judge Edward Davila ruled to dismiss any fraud charges involving patients and physicians who had not yet paid for testing as her trial began on August 31, 2021.
Holmes was found guilty of one count of conspiracy to commit wire fraud and three counts of wire fraud relating to investments made by estate attorney Daniel Mosley, who had brought in other investors including former U.S. Secretary of State and unrepentant war criminal Henry Kissinger, the DeVos family, and hedge fund manager Brian Grossman, who had invested $96 million in Theranos. The jury deadlocked on the last three counts and acquitted Holmes on four other counts.
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Is Elizabeth Holmes Married?
Holmes has been in a romantic relationship with hotel heir Billy Evans since approximately 2018 when they were spotted at Burning Man together. They became engaged in 2019, and despite rumors that they are now married, neither Holmes nor Evans have confirmed this publicly.
They reside together in Evans’ $135 million Palo Alto, California estate and have a son born in July 2021. In a court filing from February 2023, it was stated that Holmes had given birth to their second child.