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HomeFinanceDisgraced Theranos CEO Elizabeth Holmes will report to jail on May 30

Disgraced Theranos CEO Elizabeth Holmes will report to jail on May 30

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her partner Billy Evans (R) and mother Noel Holmes on November 18, 2022 in San Jose, California.

Justin Sullivan | Getty Images

Elizabeth Holmes, the disgraced CEO of Theranos, must report to prison on May 30, according to a ruling issued Wednesday by US District Judge Edward Davila. Holmes must report to prison no later than 2:00pm local time on that day, and is expected to begin her 11-year sentence at a minimum-security facility in Bryan, Texas.

On Tuesday, an appeals court rejected Holmes’ bid to stay out of prison while she appeals her conviction. In another Tuesday ruling, Judge Davila ordered that Holmes and former Theranos executive Ramesh “Sunny” Balwani pay $452 million in restitution to victims.

Last year, a federal jury in San Jose, California, convicted Holmes on four counts of defrauding investors in Theranos, and in November, Judge Davila sentenced her to 11 years and three months in prison.

Holmes, 39, has two children, the first of whom was born before her fraud trial in 2021. The second was born after her sentencing.

This is breaking news. Please check back for updates.

This story originally appeared on CNBC

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