Textify cuttline technologies8/1/2023 She also asserted she never stopped believing Theranos would revolutionize healthcare with a technology that she promised would be able to scan for hundreds of diseases and other potential problems with just a few drops of blood. The trial's most riveting moments unfolded when Holmes took the witness stand to testify in her own defense.īesides telling how she founded Theranos as a teenager after dropping out of Stanford University in 2003, Holmes accused Balwani of abusing her emotionally and sexually. The verdict against Holmes came after a 46 days of trial testimony and other evidence that cast a spotlight on a culture of greed and hubris that infected Silicon Valley as technology became a more pervasive influence on society and the economy during the past 20 years. He was incarcerated in a Southern California prison last month after losing a similar effort to remain free on bail while appealing his conviction. It hasn't been disclosed whether the federal Bureau of Prisons accepted Davila's recommendation or assigned Holmes to another facility.īalwani, 57, began a nearly 13-year prison sentence in April after being convicted on 12 counts of fraud and conspiracy last July. Holmes' pregnancy with Invicta - Latin for "invincible," or "undefeated" - began after a jury convicted her on four counts of fraud and conspiracy in January 2022.ĭavila has recommended that Holmes serve her sentence at a women's prison in Bryan, Texas. The punishment will separate Holmes from her current partner, William "Billy" Evans, their 1-year-old son, William, and 3-month-old daughter, Invicta. She had been previously ordered to surrender to authorities on April 27 by Davila, who sentenced her in November.ĭavila will now set a new date for Holmes, 39, to leave her current home in the San Diego area and report to prison. The Ninth Circuit Court of Appeals decision on Holmes' attempt to avoid prison comes nearly three weeks after she deployed a last-minute legal maneuver to delay the start of her 11-year sentence. Holmes is being held jointly liable for that amount with her former lover and top Theranos lieutenant, Ramesh "Sunny" Balwani, who is already in prison after being convicted on a broader range of felonies in a separate trial. District Judge Edward Davila ordered Holmes to pay $452 million in restitution to the victims of her crimes. In another ruling issued late Tuesday, U.S. SAN FRANCISCO - Disgraced Theranos CEO Elizabeth Holmes appears to be soon bound for prison after an appeals court Tuesday rejected her bid to remain free while she tries to overturn her conviction in a blood-testing hoax that brought her fleeting fame and fortune.
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