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Elizabeth Holmes, the founder of Theranos and a convicted fraudster, has asked to remain free during her appeal since she recently gave birth to her second child.
Elizabeth Holmes has given birth to her second child, according to court records submitted by the disgraced entrepreneur's defense team last week.
In their latest plea for a federal court to allow Elizabeth Holmes to remain out of jail while she appeals her federal fraud convictions, Holmes' attorneys cited the birth of her child as evidence that she is not a flight risk due to her tight family ties.
Elizabeth Homes' Case
Holmes' attorneys pleaded with US District Judge Edward Davila to allow her parole pending appeal, stating that she "had two small children and family support in the United States, and her parents' only home guarantees her bond."
Judge Davila presided over the trial that resulted in Holmes' conviction last year on three counts of wire fraud and one count of conspiracy after a jury determined she defrauded investors by making false claims that her company's blood-testing technology could diagnose diseases with just a few drops of blood.
The judge denied the Theranos founder's many pleas for a new trial and sentenced her to more than 11 years in jail for her crimes in November. Per Fox News, Holmes is scheduled to self-surrender on April 27 to begin serving her sentence, so her attorneys are rushing to keep her free while her appeal is pending.
The application did not reveal the child's birth date or gender, although the news is not unexpected. Holmes, 38, was pregnant at her sentencing on November 18 in the same San Jose courthouse where she was convicted on four felony charges of fraud and conspiracy by a jury.
The trial was postponed so that Holmes could give birth to her first child, a son. Holmes' children were born to her and her current companion, William "Billy" Evans. After her 2016 breakup with her former lover and business partner, Ramesh "Sunny" Balwani, who was convicted of 12 counts of fraud and conspiracy in a separate trial, she met Evans.
Balwani, 57, is also attempting to persuade Judge Davila to delay the commencement of his almost 13-year jail term. A hearing about his request was placed earlier this month, but Judge Davila has yet to decide, ABC7 reported.
Holmes does not use her two children as the only justification for her request to remain free during her appeal. Her attorneys argue that various errors and mistreatment during her trial make it probable that her conviction will be reversed. They also refer to Holmes' immaculate record during the four and a half years since her criminal indictment that she has been out on bond as proof that she is neither a flight risk nor a danger to the community.
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Prosecutors Insist Elizabeth Holmes is Flight Risk
Federal prosecutors assert in court records that Holmes is a flight risk, citing her booking of a one-way ticket to Mexico on January 26, 2022, barely three weeks after her conviction on four counts of fraud and conspiracy.
Per The Independent, she canceled the travel after prosecutors contacted her attorneys about the "unauthorized flight," claimed prosecutors. Holmes stated in a court statement that she intended to attend a wedding in Mexico that was to be held by her close friends, adding that the trip was canceled after prosecutors voiced their worries.
Holmes left Stanford University at the age of 19 to found the medical diagnostics company Theranos in 2003. The startup's goal was to develop a blood testing device that would only require a small amount of blood to perform a large number of tests.
The corporation was once valued at $9 billion with over 800 employees. Oracle founder Larry Ellison, media magnate Rupert Murdoch, the Walton family, former National Security Adviser, Secretary of State Henry Kissinger, and his colleague former Secretary of State George Shultz were among those who invested in the firm.
The accusations said that Holmes and her former colleague Ramesh "Sunny" Balwani lied about the capabilities of the technology, the company's finances, and its engagement with the Department of Defense and Walgreens. According to authorities, Holmes's guilty charges were associated with victims losing at least $120 million, total losses exceeding $800 million.
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