Elizabeth Holmes wants to delay her prison sentence after giving birth
Elizabeth Holmes, ex CEO of Theranos convicted of defrauding investors, is seeking a postponement of its commencement 11 years in prison because she has “two very young children”.
Last week’s court filing represents the first public acknowledgment that Holmes has given birth to a second child. Holmes was pregnant at the time of her sentencing in November 2022.
Her attorneys have outlined several reasons for delaying her prison sentence pending an appeal of her sentence, arguing that she is not a flight risk or a danger to the community. It also said she had “two young children” but did not say when her second child was born or their gender.
U January submissionprosecutors said Holmes tried to flee to Mexico.
“On January 23, 2022, the government became aware that defendant Holmes had booked an international flight to Mexico departing on January 26, 2022, with no scheduled return trip,” the court filing said. “It was only after the government raised the issue of the unauthorized flight with a lawyer that the trip was cancelled.”
Holmes’ criminal trial was originally postponed from March 2021 to August 2021 because she was pregnant with her first child. She has been married to her husband Billy Evans since 2019.
Last year, Holmes was sentenced to more than 11 years in prison for defrauding investors while running failed blood-testing startup Theranos. The sentence also carries a fine of $400, or $100 for each count of fraud. A return date will be set later.
On April 27, 2023, Holmes was ordered to turn herself in to custody, and she is appealing the sentence. The case is scheduled for March 17.
Holmes founded Theranos in 2003 at the age of 19 and dropped out of Stanford University shortly after to pursue the company full-time. After ten years without the radar, Holmes began courting the press, claiming that Theranos had invented technology that could accurately and reliably test for a number of conditions using just a few drops of blood taken from a fingertip.
Theranos has raised $945 million from an impressive list of investors, including media mogul Rupert Murdoch, Oracle founder Larry Ellison, Walmart’s Walton family and the billionaire family of former Education Secretary Betsy DeVos. At its peak, Theranos was valued at $9 billion, making Holmes a billionaire on paper. Praised on magazine covers, she often wore a signature black turtleneck that drew comparisons to late Apple CEO Steve Jobs.
The company began to crumble after a Wall Street Journal investigation in 2015 revealed that Theranos conducted only about a dozen of the hundreds of tests it offered using a proprietary blood-testing device with questionable accuracy. Instead, Theranos relied on third-party devices from traditional blood testing companies.