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Elizabeth Holmes surrenders to federal prison in Texas to begin 11-year sentence for Theranos scandal
Elizabeth Holmes has surrendered to a federal prison in Texas to begin her 11-year sentence over the Theranos scandal which rocked the high-flying tech world of Silicon Valley. The 39-year-old disgraced tech entrepreneur reported to Bryan, the minimum-security federal prison camp in Texas, on Tuesday after exhausting all remaining legal avenues to cling onto her freedom. Holmes was convicted in January 2022 of four counts of fraud and conspiracy for lying about the capabilities pf her biotech company’s blood testing technology and conning investors out of millions of dollars. She was sentenced to 11 years and three months in prison and ordered to pay $452m in restitution to investors – including $125m to media mogul Rupert Murdoch. Holmes had been given until 2pm local time to surrender to the prison camp where she will see out her 11-year sentence surrounded by other white-collar, non-violent female offenders. Her two children – two-year-old William and three-month-old Invicta – will be allowed to visit their mother in the facility. The prison camp, which runs a work-focused program where all inmates are required to hold a job for at least 90 days, is a marked difference from Holmes’ life years earlier when she was seen as the darling of Silicon Valley. The saga began two decades ago when Holmes dropped out of Stanford University in 2003 at the age of 19 to found Theranos. The blood lab company aimed to develop medical devices that could diagnose hundreds of diseases and medical conditions with just a pinprick of blood. Over the next 10 years, Theranos boasted about its capabilities to transform the healthcare industry and grew to a value of $9bn, attracting investments from the likes of Murdoch, former Education Secretary Betsy DeVos and the heirs to the Walmart fortune. The company amassed an influential board of directors including former presidential cabinet members George Shultz, Henry Kissinger and James Mattis. Holmes, meanwhile, was catapulted onto magazine covers and became heralded as the next Steve Jobs while her personal fortune reached $4.5bn. But the technology didn’t do close to what Holmes claimed it could. In 2018, Holmes – Theranos CEO and founder – and Ramesh “Sunny” Balwani – Theranos chief operating officer and Holmes’ live-in romantic partner – were both indicted on fraud charges and the company was dissolved. She was allowed out on bail and while awaiting trial – which was stalled due to the Covid-19 pandemic – Holmes became pregnant with her first child with her partner, hotel boss Billy Evans. She became pregnant with her second child following her conviction. During her trial, Holmes sought to paint a picture that she had simply been under the control of Balwani, 57, and that she never intended to mislead investors about the technology’s capabilities. The jury didn’t buy it and she was convicted of four counts, which could have landed her with up to 20 years’ prison time. Balwani was also convicted of 12 counts of fraud and conspiracy at his trial and was sentenced to 13 years in federal prison. He began serving his sentence in Southern California last month. Since her conviction, Holmes has fought to stay out of prison claiming that she was treated unfairly by prosecutors during trial and that she should be allowed to remain out of prison while she appeals the conviction. An appeals court denied her request and said she must report to prison where she can continue to appeal her conviction behind bars. She asked the judge that she be allowed to remain free through Memorial Day weekend so that she could sort out childcare for her two children, before surrendering to authorities on 30 May. Weeks before beginning her sentence, Holmes admitted that she had made “many mistakes” in a new interview with The New York Times. “I made so many mistakes and there was so much I didn’t know and understand, and I feel like when you do it wrong, it’s like you really internalise it in a deep way,” she said. Read More Elizabeth Holmes news – latest: Theranos founder to surrender to Texas prison today to begin 11-year sentence As Elizabeth Holmes heads to prison for fraud, questions remain about her motives Elizabeth Holmes requests May 30 as new date to report to prison after losing her bid to remain free
2023-05-31 01:47
Ukraine grain corridor should not replace broader deal - UN trade chief
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2023-09-27 23:47
Ultra-processed food may cause ‘tidal wave of harm’ including stroke and heart attack risk
Two new studies have found conclusive links between the consumption of ultra-processed foods (UPF) with increased cardiac disease risk, including heart attacks and strokes. The research, presented at the annual meeting of the European Society of Cardiology in Amsterdam, found highly processed food sold in stores across the world, such as fizzy drinks, cereals and ready-to-eat meals, may lead to an increased risk of cardiovascular diseases and hypertension. Henry Dimbleby, the UK government’s former food tsar, said the findings should be a “wake-up call” for the country. “Britain is particularly bad for ultra-processed food. It is storing up problems for the future,” he told The Guardian. “If we do nothing, a tidal wave of harm is going to hit the NHS.” One of the studies, conducted by scientists from the Fourth Military Medical University in China, conducted a review of 10 studies that included 325,403 participants and 38,720 cases of cardiovascular disease (CVD) events, including heart attack and stroke. It found a conclusive association between UPF and heart disease risk. Scientists found that a 10 per cent increase in UPF consumption in daily calorie intake is linked to a 6 per cent rise in heart disease risk. Researchers also observed that the lowest risk was at a less than 15 per cent per day of UPF consumption out of total calorie intake. However, heavy UPF consumption “was significantly and positively associated with increased risk of cardiovascular events,” scientists noted. The other research, also presented at the world’s largest heart health conference, assessed the link between UPF intake with CVD and hypertension in a population of middle-aged women in Australia. Scientists, including those from the University of Sydney, assessed health data of about 10,000 women aged 46-55 years who were recruited into the Australian Longitudinal Study on Women’s Health and followed for 15 years. They assessed the contribution of UPF in the daily dietary intake of these women as well as their self-reported heart disease and stroke, and/or hypertension incidences. The women included in the study had an average UPF intake of 26.6 per cent of total food dietary intake. Over their 15 years of follow-up, scientists found 1,038 incident CVD and 4,204 hypertension cases. Among the middle-aged women, scientists observed that a higher UPF intake was associated with higher risk of CVD and hypertension. “These findings lend support to minimising UPF intake as a component of a heart-healthy diet,” scientists wrote in the study. Taken together, the findings hinted that the harm caused by UPF may be more than just due to their high salt and fat content. “If there is something inherent in the processing of foods that is harmful, then that is a disaster,” said Mr Dimbleby. Read More First-of-its-kind study finds laughter is indeed good medicine, especially for the heart How many steps a day can cut risk of early death (and it’s not 10,000) Weight loss jabs improve heart failure symptoms in obese patients – study First-of-its-kind study finds laughter is indeed good medicine How many steps a day can cut risk of early death (and it’s not 10,000) ‘Boy moms’ called out for dubious logic behind teaching their sons to cook
2023-08-28 14:54
Even with carbon emissions cuts, a key part of Antarctica is doomed to slow collapse, study says
A new study says no matter how much the world cuts back on carbon emissions, a key and sizable chunk of Antarctica is essentially doomed to an unavoidable melt
2023-10-23 23:17
Biden is headed to Michigan to join the UAW picket line. He's all-in on showing his union bona fides
President Joe Biden’s decision to stand alongside United Auto Workers pickets in Michigan during their strike against major carmakers underscores an allegiance to labor unions that appears to be unparalleled in presidential history
2023-09-26 18:57
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