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Elizabeth Holmes must report to prison by May 30 | CNN Business

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JUST IN: Former Theranos CEO Elizabeth Holmes must report to prison by May 30 after losing a last-minute bid to avoid starting her sentence

In a filing Wednesday, Judge Edward Davila, who presided over her trial, ordered Holmes to turn herself in to the Bureau of Prisons by May 30 to begin serving out her 11-year sentence for defrauding investors while running the failed blood-testing startup Theranos. Holmes was previously ordered to begin her sentence on April 27.

Separately on Tuesday, Davila ordered Holmes and her ex-boyfriend and former Theranos COO Ramesh “Sunny” Balwani to pay restitution of roughly $452 million to victims of their crimes. Holmes and Balwani “will be jointly and severally liable for this sum,” Davila wrote in the filing, meaning each could be individually liable for the entire amount. Balwani was indicted alongside Holmes and convicted of fraud in a separate trial.

 

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Elizabeth Holmes loses bid to avoid prison | CNN BusinessElizabeth Holmes’ last-minute bid to avoid prison was denied by an appellate court on Tuesday, paving the way for the disgraced Theranos founder to begin her sentence.
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