Elizabeth Holmes is now a mother of two.
But with an 11-year prison sentence, it’s unclear what role the unscrupulous Theranos founder may have played in his children’s early years.
The news of the new addition to the Holmes family came not from an exciting press release but from a court document in which the former CEO’s lawyer asked a judge to allow him to remain free on bail pending an appeal.
Holmes is now scheduled to report to federal prison on April 27.
“Ms. Holmes has deep ties to the community,” the attorneys said in papers filed Tuesday.
“She is the mother of two small children; she has a close relationship with her family and friends, many of whom sent her letters vouching for her good character; and she volunteers with rape crisis and counseling organizations.
Holmes was convicted of fraud and conspiracy charges in January 2022.
You may recall, after gaining fame as a wunderkind in the world of biotechnology, Holmes suffered a fall from grace worthy of a Greek tragedy.
In 2015, shortly after she was named the country’s youngest and richest female billionaire, Holmes’ downfall began abruptly.
A The Wall Street Journal cast doubt on Holmes’ claim that he had pioneered a new technology that allowed doctors to perform multiple tests with just one drop of blood.
A subsequent SEC investigation found that Holmes had defrauded investors and lied about laboratory results of patient tests.
In testifying in her own defense at trial, Holmes claimed that at the time of her crimes, she was under Theranos Chief Operating Officer (COO) Ramesh “Sunny” Balwani, with whom she was romantically involved.
Balwani was convicted of 12 counts of fraud alone, and the judge was not persuaded by Holmes’ sob story.
“The man on trial is 37 years old,” U.S. Attorney John Bostic said in his closing arguments during the trial.
“You must be old enough to know the difference between right and wrong.”
In addition to falsifying lab records, Holmes was convicted of defrauding high-value investors in 2015, telling them the company would make $1 billion in revenue that year, when he knew it would only bring in a few hundred thousand.
Legal experts say the judge will not allow Holmes to remain free pending the outcome of the appeal.
We will have more updates on this developing story as new information becomes available.