Holmes Seeks New Prison Reporting Date After Freedom Loss
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Elizabeth Holmes, the former CEO of Theranos, wants to stay out of jail until May 30, when she starts her 11-year sentence. She asked a judge to allow her to be free for Memorial Day weekend. Elizabeth Holmes tricked investors with a fake blood-testing scam. She has been found guilty and is going to jail for a long time.
The lawyers of Holmes proposed a reporting date in a filing on Wednesday. A federal appeals court denied her request to stay out of jail while she appeals her conviction. She was convicted of four felony counts of fraud and conspiracy in January 2022.
Holmes was punished and ordered to pay $452 million as restitution. The ruling was given by U.S. District Judge Edward Davila on Tuesday.
They asked Davila to OK the new reporting time of May 30th. Holmes needs 2 weeks to handle some things. One is childcare for her 1-year-old son and 3-month-old daughter. She was supposed to start serving her sentence on April 27th. But she got more time with her kids because of a legal move.
Holmes was pregnant with William before her trial in September 2021. She got pregnant with Invicta after being convicted of crimes. These crimes could have led to 20 years in prison. Holmes is 39 years old.
The father of the two kids is Billy Evans. Elizabeth met him after splitting with her previous partner, Sunny Balwani. Sunny is in jail for nearly 13 years in Southern California. He was Theranos' COO and lived with Holmes when he committed fraud and conspiracy, which led to 12 felony counts.
Holmes' lawyers didn't say which prison she'll go to in Wednesday’s filing. Holmes has to get ready to travel outside of California. She has been living in the San Diego area while free on bail. Davila said she should go to prison in Bryan, Texas.
Holmes will be jailed soon and the saga will end. She gained fame and fortune in Silicon Valley but faced a scandalous downfall. It was a dark chapter in her life.
Holmes quit Stanford in 2003 to start Theranos. She said she would change healthcare with a machine that could test for many issues with only a few drops of blood. This idea got her almost $1 billion from investors like Larry Ellison and Rupert Murdoch. Murdoch is supposed to get $125 million back.
Theranos' blood tests didn't work as Holmes promised with Balwani's help. The company failed and it became a popular story. It was written as a book, "Bad Blood", turned into a documentary, "The Inventor" and a Hulu series, "The Dropout", which earned Seyfried an Emmy.
