Elizabeth Holmes loses her offer to stay free but is given an appointment to report to prison

SAN FRANCISCO (AP) – The disgraced CEO of Theranos, Elizabeth Holmes, remains free until Memorial Day weekend before turning herself in to authorities on May 30 to take office more than 11 years imprisonment for defrauding investors as part of a blood test scam.

US District Judge Edward Davila set Holmes’ amended arrest record date after her attorneys suggested it in a filing filed Wednesday. It came after A federal appeals court rejected Holmes’ offer late Tuesday to stay out of prison while she tries to have her January 2022 conviction overturned four offenses of fraud and conspiracy.

The penalty also includes a $452 million restitution bill that Davila Holmes was ordered to pay in a separate judgment late Tuesday.

Holmes’ attorneys asked Davila to give her a two-week tenure at the prison on May 30 to resolve several issues, including childcare for her one-year-old son, William, and three-month-old daughter, Invicta. Holmes was originally ordered to start her sentence on April 27, but was given a reprieve with one last-minute legal maneuver This gave her more time for her children.

Holmes, 39, became pregnant with William just before her high-profile trial began in September 2021 and became pregnant with Invicta shortly after she was convicted of crimes that could have carried up to 20 years in prison.

The father of both children is William “Billy” Evans, whom she met after splitting from her former love and business partner, Ramesh “Sunny” Balwani, who began his ministry almost 13 years imprisonment last month in Southern California. The 57-year-old Balwani was sentenced for it 12 offenses of fraud and conspiracy committed when he was Chief Operating Officer of Theranos and lived with Holmes.

Former Theranos CEO Elizabeth Holmes (left) and her partner Billy Evans exit federal courthouse in San Jose March 17, 2023.
Former Theranos CEO Elizabeth Holmes (left) and her partner Billy Evans exit federal courthouse in San Jose March 17, 2023.

In the filing filed Wednesday, Holmes’ lawyers did not disclose the location of the jail where she is scheduled to serve her sentence. However, they noted that she must prepare to travel outside of California, where she lived in the San Diego area during her bail confinement. Davila has recommended Holmes be jailed in Bryan, Texas.

When Holmes is finally imprisoned, the curtain will fall on a saga that will shine a bright light on a dark chapter in Silicon Valley that brought her fame and fortune before her scandalous downfall.

After dropping out of Stanford University in 2003 to found Theranos as a teenager, Holmes promised to revolutionize healthcare with technology she says could detect hundreds of diseases and other potential problems with just a few drops of blood. The idea helped her raise nearly $1 billion from veteran investors, including Oracle co-founder Larry Ellison and media mogul Rupert Murdoch, who is owed $125 million under the restitution order.

But Theranos blood tests never worked nearly as well as Holmes had boasted of backing Balwani, leading to the collapse of the company and a story that has been the subject of a book, Bad Blood, an HBO documentary, The Inventor. . “” and a Hulu miniseries “The Dropout,” which earned Amanda Seyfried an Emmy for the lead role.

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