Elizabeth Holmes and her husband, Billy Evans, are parents to two children. The pair, married in 2019 while Holmes was still awaiting trial, announced the arrival of their first child in March 2021.
Their son, William, was born on July 10, 2021. In Feb 2023, it was revealed that the couple welcomed a second child, whose name and birthdate have not been publicly disclosed. The news of the second child’s birth led to speculation about its potential impact on Holmes’ trial.
Some legal experts suggested that the fact that Holmes is a new mother could play a role in the jury’s verdict and her potential sentence.
One federal white-collar criminal defense attorney, Caroline Polisi, shared her thoughts during an episode of “The Dropout: Elizabeth Holmes on Trial” podcast. She opined that Holmes’ status as a young, new mother could work in her favor in the event of a conviction.
Polisi is one of many guests who have appeared on the podcast hosted by ABC News’ Rebecca Jarvis, which provides in-depth trial coverage.
The birth of Holmes’ second child highlights the complexity of the situation she finds herself in. While she has been convicted of wire fraud, her personal life continues to evolve, and the consequences of her actions may extend beyond her own life to her family.
When Was Elizabeth Holmes Convicted?
On January 3, 2022, Elizabeth Holmes, the Ex CEO of Theranos, was discovered guilty on 4 charges, which included one count of conspiracy to commit fraud and 3 counts of fraud.
However, the jury could not come to a verdict on three other counts of wire fraud. Holmes was acquitted of the four remaining felony charges. As per reports by NYT and CNN, each count carried a sentence of 20 yrs in prison, a fine of $250,000, and restitution.
Holmes, accused of defrauding investors by advertising a false product, faces up to 20 years in prison and a hefty fine and restitution. In 2018, the Securities and Commission charged Holmes and the former president of Theranos, Ramesh “Sunny” Balwani, with fraud for taking more than $700 million from investors.
The diagnostics company promised to provide faster and more affordable results than traditional labs by analyzing blood samples. However, after several years of investment and promotion, the technology was found to be flawed and unreliable.
Prosecutors allege that Holmes was aware of the issues with the technology, but she continued to lie to investors, doctors, and patients, raising over $700 million for the company.
Despite being found guilty, it is reported that Holmes plans to appeal the verdict. It is worth noting that earlier that day, the jury could not reach a verdict on three of the 11 counts, adding further complexity to the case.
