Following the collapse of Theranos, she started dating hotel heir Billy Evans, with whom she had a son in 2021. Holmes was in a clandestine romantic relationship with Balwani during most of Theranos's history. The credibility of Theranos was attributed in part to Holmes's personal connections and ability to recruit the support of influential people, including Henry Kissinger, George Shultz, Jim Mattis, and Betsy DeVos, all of whom had served or would go on to serve as U.S. In November 2022, she was sentenced to serve 11 + 1⁄ 4 years in prison. ended in January 2022 when Holmes was convicted of defrauding investors, and acquitted of defrauding patients. In June 2018, a federal grand jury indicted Holmes and former Theranos chief operating officer (COO) Ramesh 'Sunny' Balwani on fraud charges. Securities and Exchange Commission (SEC) charged Theranos and Holmes with deceiving investors by 'massive fraud' through false or exaggerated claims about the accuracy of the company's blood-testing technology Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her voting control of Theranos, and accepting a ten-year ban from serving as an officer or director of a public company. The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims and whether Holmes had misled investors and the government. In the following year, as revelations of potential fraud about Theranos's claims began to surface, Forbes revised its estimate of Holmes's net worth to zero, and Fortune named her in its feature article on 'The World's 19 Most Disappointing Leaders'. By 2015, Forbes had named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9-billion valuation of her company. It soared in valuation after the company claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, such as from a fingerprick. In 2003, Holmes founded and was the chief executive officer (CEO) of Theranos, a now-defunct health technology company. Conspiracy to commit wire fraud (1 count)ġ1 + 1⁄ 4 years (135 months) in prison Įlizabeth Anne Holmes (born February 3, 1984) is a convicted American fraudster and former biotechnology entrepreneur.

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