Theranos officially dissolved in September 2018, three months after founder Elizabeth Holmes and company president Ramesh “Sunny” Balwani were indicted on federal wire fraud charges for luring investors with the promise of a blood-testing technology that was not ready to bring to the masses.
While awaiting trial, Holmes and partner Billy Evans welcomed son William in July 2021.
She pleaded not guilty to all charges, but was convicted in January 2022 of one count of conspiracy to defraud investors, plus three wire fraud counts tied to specific investors, and subsequently sentenced to 11 years in prison.
Holmes gave birth to daughter Invicta in February 2023. In her first prison interview, she told People in 2025, “I always wanted to be a mother. I truly did not think I would ever be convicted or found guilty.”
A month before she was due to begin serving her time, Holmes and Evans opened up their San Diego, Calif., rental to Nathan Fielder and a small documentary crew. The result, You Can See Everything, is in theaters Oct. 16, 2026.
Holmes reported to minimum-security Federal Prison Camp, Bryan in Texas on May 30, 2023. She’s scheduled to be transferred to a halfway house in August 2027.
“I was silenced for a long time,” Holmes wrote in a Sept. 27 X post. “And then imprisoned. I am fighting to prove my innocence and come home to my babies and the love of my life.”
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