Elizabeth Holmes, the founder of the failed blood-testing company Theranos, has formally requested that former President Donald Trump commute her prison sentence. This development follows her conviction for defrauding investors in what was once a $9 billion valued startup.
Formal Petition to the Former President
A notice on the United States Department of Justice website confirms that Holmes submitted a commutation petition last year. The status of this request is currently listed as pending by the Office of the Pardon Attorney. The White House has not provided an immediate comment regarding this matter.
The Rise and Fall of Theranos
Holmes, a 37-year-old university dropout with no medical background, managed to deceive prominent figures and regulators. She convinced investors, including Rupert Murdoch, Henry Kissinger, and Larry Ellison, that her technology could perform extensive health diagnostics using only a tiny blood sample from a finger prick.
She filed a patent for this purported innovation, which promised to revolutionise medical testing by eliminating the need for large blood volumes. However, the company's claims began to unravel following a 2015 investigative report by Wall Street Journal journalist John Carreyrou.
Exposure and Legal Consequences
Carreyrou's reporting revealed that Theranos's flagship testing devices were not being used for most of the advertised analyses. Subsequent regulatory scrutiny forced the company to retract tests and recall its machines. Holmes resigned as CEO in June 2018, and Theranos dissolved shortly thereafter.
In 2018, federal authorities charged Holmes and her former business partner, Sunny Balwani, with multiple counts of fraud. The charges included defrauding both investors and patients, alongside making false claims about the efficacy of the company's technology. Holmes was ultimately convicted on four counts of investor fraud.
Sentencing and Clemency Prospects
In November 2022, Holmes was sentenced to serve more than 11 years in federal prison. Her commutation appeal now rests with Donald Trump, who has a notable record of granting clemency. During his second term, Trump issued pardons or commutations to over 1,600 individuals, many involved in the January 6 Capitol attack. In contrast, his first term saw only 237 such acts of clemency.
The outcome of Holmes's petition remains uncertain, marking another chapter in one of the most notorious corporate fraud cases in recent American history.
