Panjab News Update

US biotech star Elizabeth Holmes has been given the order to begin serving time in prison and pay the victims

Elizabeth Holmes, a former US biotech star who is now doing time in jail after having her most recent plea to stay free while appealing her fraud conviction refused, must now report to prison.
Since Holmes' Silicon Valley start-up Theranos defrauded investors, she received a sentence of little over 11 years in jail.
She was supposed to start serving her prison sentence in late April, but when an earlier effort was rejected, her attorneys filed a last-minute appeal on procedural grounds.
In a separate decision, US Judge Edward Davila on Tuesday ordered Holmes and her senior Theranos lieutenant, Ramesh “Sunny” Balwani, to pay $452 million to victims of their fraud. He also refused the latest motion.
According to a formal order from Davila, Holmes must go to jail on May 30 to start serving her sentence.
The judge reportedly suggested that she serve her sentence in a Texas women's jail, according to media sources.
Holmes was found guilty of misleading investors into thinking she had created a ground-breaking medical gadget.
When the 39-year-old claimed that her start-up was creating an easy-to-use test kit that could perform a broad variety of medical diagnostics with only a few drops of blood, she shot to fame in Silicon Valley.
But following a Wall Street Journal examination into the reliability of the tests, her business failed.
Prior to her trial and after her conviction, Holmes had another child.

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