Elizabeth Holmes, 39, innovative blood tests were a success story that attracted heavy investors to the company Theranos. She was hailed as a superstar and raised almost SEK 10 billion on the test method that would revolutionize healthcare.
On Tuesday, she begins her eleven-year sentence at the prison in Texas, several international media reports.
Would do 70 tests at the same time
Holmes was convicted last year of fraud on four counts after the Wall Street Journal revealed the blood tests were a hoax.
With a few drops of blood from her finger, Elizabeth Holmes' device could perform 70 tests at once, detecting everything from cancer to diabetes and STDs. But it never worked and the results that had been shown were fabricated and made partly by machines from other companies.
Authorities subsequently shut down the business, which they said threatened patient safety, and she was charged in 2021 with fraud.
Should pay $452 million
In mid-May, the court rejected Holmes' request to remain at large while she considered appealing the verdict. She is also to pay $452 million in damages to victims of the scam along with her former partner Ramesh, "Sunny" Balwani. He was sentenced late last year to 13 years in prison.