Disgraced Before turning herself in to authorities on May 30 to start serving her more than 11-year jail term for cheating investors in a blood-testing scheme, Theranos CEO Elizabeth Holmes will be free for Memorial Day weekend. After Holmes’ attorneys suggested it in a brief on Wednesday, U.S. District Judge Edward Davila set the new reporting date for her to report to jail.
It followed the rejection of Holmes’ request to be kept out of jail as she fights her January 2022 conviction on four felony charges of fraud and conspiracy by a federal appeals court. In a second decision announced late Tuesday, Davila ordered Holmes to pay a $452 million restitution bill as part of the sentence.
The May 30 prison reporting date was extended by two weeks by request of Holmes’ solicitors so that she would have time to arrange child care for her three-month-old daughter Invicta and one-year-old son William. Originally scheduled to start her prison term on April 27, Holmes was granted a stay thanks to a last-minute legal gambit that provided her additional time with her kids.
In September 2021, just before the start of her highly publicised trial, Holmes, then 39, found out she was expecting William. Shortly after her conviction for charges that may have resulted in a 20-year jail sentence, she found out she was expecting Invicta.
She met William “Billy” Evans after splitting from Ramesh “Sunny,” Balwani, her former business and personal partner, who started serving a nearly 13-year prison sentence last month in Southern California. Ramesh “Sunny” Balwani is the father of both of her children. Balwani, 57, was found guilty of 12 felonies in connection with fraud and conspiracy that he had committed while serving as the chief operations officer of Theranos and residing with Holmes. Holmes’ attorneys omitted mentioning the name of the prison where she will be serving her term in the document filed on Wednesday.
They did point out that she needs to get ready to leave California, where she has been residing in the San Diego region while out on bail, though. It has been suggested by Davila that Holmes be detained in Bryan, Texas.
When Holmes is ultimately put behind bars, the chapter on a narrative that shed light on a troubling Silicon Valley episode that garnered her fame and money before her scandalous downfall will come to an end.
