Former Theranos founder and CEO, Elizabeth Holmes, is pregnant with her second child – according to court documents from her sentencing on Friday. She has been married to Billy Evans since 2019 and they already share one child together – a son in 2021. This is her second child since her fraud trial began.
Some experts are estimating that she’s 5-7 months along. Rumors of a potential pregnancy began in October when she was seen in court with a baby bump. She was also wearing the same outfit that she wore when she was pregnant with her son, William, in her criminal trial last year – a maternity dress.
Not only is she giving birth in early 2023, but she was sentenced to 11.25 years – 135 months – by federal judge Edward Davila. Following the sentence, she will also serve a three-year supervised release. Holmes turns 39 on February 3rd and will be 50 years old by the time she finishes her 11-year sentence.
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“I stand before you taking responsibility for Theranos. I loved Theranos, it was my life’s work. I am so, so sorry. I gave everything I had to building and trying to save our company,” said Elizabeth Holmes during the hearing on Friday. “Looking back, there are so many things I would do differently if I had the chance.
Holmes was tried on 11 counts of fraud but was only found guilty of four of them – three counts of wire fraud and one count of conspiracy to commit wire fraud. She faced a maximum 20-year sentence, a $250,000 fine, and a requirement to pay restitution for each of the four counts she was convicted of.
The judge ended up meeting somewhere in the middle of what each side was asking for. Holmes’ lawyers were asking for a maximum sentence of 18 months (under house arrest), while the prosecutors were asking for a 15-year sentence. The defense submitted 130 letters from loved ones in hopes of leniency.
“I am devastated by my failings. Every day for the past few years I have felt deep pain for what people went through because I failed them,” she added. According to court documents, her 11-year sentence will begin on April 27th. Her second child will likely be born by then, though we don’t know the exact due date.
What Did Elizabeth Holmes Do Wrong?
When Elizabeth Holmes was 19 years old, she dropped out of Stanford University and used her tuition money to start her own company – Theranos, a blood-testing startup. Over the next 10 years, she secured nearly $700 million in funding from various sources, including venture capitalists and investors.
She also brought on a variety of high-ranking personalities – including senators, billionaires, federal government officials, and even an ex-CDC chief. Unfortunately, things started to take a turn for the worse when a 2015 article accused her blood test machines were fraudulent and weren’t working as intended.
Over the next few years, she was investigated by the FDA, SEC, and more federal agencies seeking to get to the bottom of this. She was eventually handed nine counts of wire fraud and two counts of conspiracy to commit wire fraud in 2018. At this point, she decided to step down from her CEO position.
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While Elizabeth Holmes will spend the next 11 years behind bars, she isn’t even getting the worst of it. Her former boyfriend and right-hand man at Theranos, Ramesh “Sunny” Balwani, was convicted of all 12 counts he was being tried for. He is scheduled to face his sentencing on December 7th.
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