Elizabeth Holmes and Ramesh Balwani were convicted of fraud for their role in Theranos, a company that claimed to have developed a revolutionary blood testing technology. However, the technology was never actually developed, and Holmes and Balwani knew it. The couple continued to accept funding from investors, even though they knew their technology was flawed. When deposed by the Securities and Exchange Commission, Elizabeth Holmes answered “I don’t know” more than 600 times.
Holmes’s claim that she should not go to prison because she has two children to nurture is not a valid reason for her not to turn herself in the the Department of Corrections. The fact that she has children does not mean that she is above the law. She committed a crime, and many are calling for her freedom to come to an end. Her children will be taken care of by her family and friends, and they will be able to visit her in prison.
There are thousands of pregnant women that have committed crimes, got pregnant and still served their time.
It is important to uphold the law, and to send a message that fraud will not be tolerated. Holmes and Balwani’s sentences send a clear message that those who commit fraud will be punished, regardless of their status or wealth. This is important for protecting investors and ensuring that the public can trust in the integrity of entities accepting donations and investments.
In addition to the legal reasons, there are also moral reasons why Holmes and Balwani should be in prison. They took advantage of people’s trust and stole their money. They also put people’s health at risk by claiming that their technology was safe and effective when it was not. These are serious crimes, and both Elizabeth Holmes and Ramesh Balwani will pay back society by serving time.
Ian Gibbons was a biochemist that had spent 30 years working on medical therapeutics and diagnostic testing. He went to work for Theranos in 2005. He repeatedly attempted to report to Theranos that his test results were inaccurate and that he had lost confidence in Theranos’ equipment’s testing ability. He wasn’t able to satisfactorily get an audience from Theranos executives. Gibbons deliberately overdosed on acetaminophen the night before he was to be deposed in a lawsuit on behalf of Theranos. He died a few days later from liver failure.
Holmes and Balwani’s sentences are a just and correct response to their selfishness and arrogance. As for pregnant women serving their sentences, there are many prisons that accept pregnant women. Women that have committed crimes and are proven to have committed crimes should serve their time in prison and reflect on the harm that they have caused.