Theranos founder Elizabeth Holmes will report to prison on May 30, a federal judge ruled Wednesday afternoon, after her request to avoid prison while appealing her conviction on fraud charges was rejected.
FILE - Former Theranos CEO Elizabeth Holmes leaves federal court in San Jose, Calif., March 17, ... [+]
Holmes is required to report to prison—likely in a minimum-security prison in Bryan, Texas—no later than 2 p.m. on May 30 to begin her 11-year sentence for defrauding investors in Theranos, Judge Edward J. Davila said.
Holmes’ request to stay out of prison while she appeals her fraud conviction was denied Tuesday by the Ninth Circuit Court of Appeals, with a panel of judges ruling her appeal was unlikely to result in her sentence being overturned.
Holmes was convicted on four counts of defrauding Theranos investors last year and sentenced in November. Her co-conspirator and former Theranos executive Ramesh “Sunny” Balwani was convicted of 12 charges of defrauding Theranos investors and patients.
This story is developing; it will be updated.
Disgraced Theranos CEO Elizabeth Holmes will report to jail on May 30 (CNBC)
Court Rejects Elizabeth Holmes’ Plea To Avoid Prison During Appeal (Forbes)