Friday, April 19, 2024

HomeFinanceElizabeth Holmes says baby should delay Theranos fraud prison term

Elizabeth Holmes says baby should delay Theranos fraud prison term


Disgraced Theranos CEO Elizabeth Holmes is citing her recently born child as another reason she should be allowed to delay the start of a more than 11-year prison sentence while her lawyers appeal her conviction for duping investors about the capabilities of her failed company’s blood-testing technology.

The birth of Holmes’ second child was confirmed in court documents filed last week in advance of a March 17 hearing about her bid to remain free during an appeals process that could take years to complete.

The filing didn’t disclose the date of the birth or the child’s gender, but the news isn’t a surprise. Holmes, 38, was pregnant at the time of her Nov. 18 sentencing in the same San Jose, California, courtroom where a jury convicted her on four felony counts of fraud and conspiracy.

The start of that trial had been delayed so Holmes could give birth to her first child, a son. Holmes had both children with her current partner, William “Billy” Evans. She met Evans after her 2016 break-up with her former lover and business partner, Ramesh “Sunny” Balwani, who was convicted on 12 counts of fraud and conspiracy in a separate trial.

Balwani, 57, is also trying to convince U.S. District Judge Edward Davila to delay the start of his nearly 13-year prison sentence. A hearing on his request was held earlier this month, but Davila hasn’t issued a ruling yet.

Holmes isn’t citing her two children as the only reason she should be allowed to stay out of prison during her appeal. Her lawyers contend that an array of mistakes and abuses made during her trial make it likely her conviction will be overturned, They are also pointing to Holmes’ unblemished record while she has been free on bail during the four-and-half years since her criminal indictment as evidence that she isn’t a flight risk or a danger to the community.

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