DISGRACED Theranos CEO Elizabeth Holmes was found guilty of wire fraud.
In the midst of her trial, she managed to welcome her first child.
Elizabeth Holmes is the mother of two children she shares with her husband Billy Evans.
Evans and Holmes tied the knot back in 2019, while the latter was still awaiting trial.
The announcement of Holmes’ baby came back in March 2021.
On July 10, 2021, she and Evans welcomed their son William.
On February 24, 2023, it was revealed that the couple welcomed a second child.
Following the birth, the prosecution voiced their frustration with Assistant U.S. Attorney Robert Leach, saying that her baby might play a role in the jury’s verdict.
“Not only is that going to help her in her trial, but it will really help her in the event that she is convicted,” Caroline Polisi, a federal white-collar criminal defense attorney said on “The Dropout: Elizabeth Holmes on Trial” podcast. “The fact that she is a young, new mother is going to play into any potential sentence.”
While Polisi is not associated with the trail, she is one of many guests that ABC News’ Rebecca Jarvis has had on the show.
Holmes was found guilty on four charges, three counts of wire fraud and one count of conspiracy to commit wire fraud.
However, the jury could not reach a verdict on three counts of wire fraud.
She was found not guilty of four other felony charges.
The verdict was read out on Monday, January 3, 2022.
Earlier that day, a jury could not reach a unanimous verdict of 3 of 11 counts.
The New York Times reported Holmes will most likely appeal. Each count “carried a maximum sentence of 20 years in prison,” the outlet reported.
CNN reported she faces up to 20 years in prison and a fine of $250,000 plus restitution.
In March 2018, the US Securities and Exchange Commission charged Holmes and Theranos’s former president, Ramesh “Sunny” Balwani, with fraud by taking more than $700million from investors while advertising a false product.
The diagnostics company promised faster and cheaper results compared with traditional labs, running an analytical gamut with a few drops of blood. However, after years of hype and billions of dollars later, the miracle machines allegedly did not work.
Prosecutors allege Holmes knew it, yet continued to lie to investors, doctors, and patients so she could raise more than $700million.
