Elizabeth Holmes Welcomes 1st Child Ahead of Criminal Fraud Trial
The disgraced founder and CEO of Theranos reportedly gave birth in California last month.
The disgraced founder and CEO of blood-testing company Theranos has given birth to her first child ahead of her criminal fraud trial, according to People.
Holmes is awaiting a criminal trial for 12 counts of fraud that is slated to begin Aug. 31 in San Jose, California.
Her trial was originally scheduled to begin last summer, but was delayed because of the coronavirus pandemic. Her trial was then scheduled to begin in July, but in March her counsel and prosecutors filed court papers asking a judge to move her trial's start date given that she was also due to give birth in July, People reported.
"The parties have met and conferred, and both parties agree that, in light of this development, it is not feasible to begin the trial on July 13, 2021, as currently scheduled," court documents obtained by CNN read. "In light of Defendant's pregnancy, the parties stipulate and agree, and respectfully request that the Court order, that the trial begin with jury selection on August 31, 2021."
In 2018, the U.S. Attorney's Office in San Francisco charged Holmes and former Theranos president Ramesh "Sunny" Balwani with nine counts of wire fraud and two counts of conspiracy to commit wire fraud. Another count of wire fraud was added in 2020.
The indictment alleges that the two engaged in a multimillion-dollar scheme to defraud investors about Theranos, and a separate scheme to defraud doctors and patients, ABC News reported.
Holmes and Balwani have pleaded not guilty to their charges. Balwani's trial will begin in January 2022.
If convicted, Holmes and Balwani face a maximum sentence of 20 years in prison and a fine of $250,000 plus restitution for each count.
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