Elizabeth Holmes goes to prison – level 3

02-06-2023 07:00

Elizabeth Holmes, the founder of Theranos, has turned herself in to begin serving an 11-year prison sentence for fraud.

Holmes, who had been out on bail since 2018, was convicted on four counts of defrauding investors. She entered a minimum-security women’s prison camp in Texas, United States, accompanied by an escort and appeared in good spirits. The prison camp primarily houses non-violent female federal prisoners and focuses on work programs. Holmes had tried to delay her sentence, but her requests were denied. She spent her final days of freedom with her partner and children. Holmes’ former business partner Sunny Balwani was also convicted and began serving a 13-year sentence.

The downfall of Theranos, a company Holmes founded promising revolutionary blood-testing technology, marked the end of a dramatic saga that saw the company dissolve in 2018. Holmes will face supervised release and restitution payments after her sentence.

Difficult words: fraud (deception or dishonesty for personal profit), downfall (collapse or failure), restitution (compensation for loss or damage).

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What impact did the rise and fall of Theranos have on the healthcare industry?


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