Elizabeth Holmes’ no good, very bad day: Bail denied and a bill for $452 million

Photo caption: Elizabeth Holmes (C), founder and former CEO of blood-testing and life sciences company Theranos, walks with […] Photo credit: Amy Osborne via Getty Images. Article by Beth Mole. Ars Technica – May 17, 2023.

Convicted fraudster Elizabeth Holmes had a rough Tuesday. The judge in her fraud case, US District Judge Edward Davila, ordered her and her ex-boyfriend, Ramesh “Sunny” Balwani, to pay $452 million in restitution to defrauded investors of their infamous and now defunct blood-testing company, Theranos. Holmes, the company’s founder and former CEO, and Balwani, the former president, are jointly responsible for paying back the entirety of the hefty sum. […]

Click here to view original web page at arstechnica.com