The Theranos founder turned convicted fraudster Elizabeth Holmes is set to bid adieu to her freedom and her estate home costing $13,000 a month a

Elizabeth Holmes reports to prison in a day. It'll be a drastic change from her life of luxury as a onetime billionaire.

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2023-05-30 09:30:06

The Theranos founder turned convicted fraudster Elizabeth Holmes is set to bid adieu to her freedom and her estate home costing $13,000 a month as she commences an 11-year prison sentence.

Holmes, now 39, was found guilty in January 2022 of four of 11 fraud and conspiracy charges relating to Theranos, her $9 billion healthtech startup that collapsed after the reporter John Carreyrou revealed its core blood-testing tech didn't work. The revelations triggered regulatory investigations and a lawsuit filed by the Securities and Exchange Commission.

The disgraced entrepreneur has managed to delay reporting to prison by appealing her conviction and then appealing judge denials. She's expected to begin her sentence at a federal prison camp for women in Bryan, Texas, after losing her most recent appeal.

If she does, then Tuesday would mark Holmes' complete fall from grace. Once crowned America's youngest self-made female billionaire — with a reported net worth of $4.5 billion — Holmes is now a cautionary tale in Silicon Valley mythmaking.