— Finance

Theranos CEO Elizabeth Holmes gives birth before fraud trial

According to birth records obtained by ABC News, the former CEO and her partner, Billy Evans, welcomed a son, William Holmes Evans, who was born on July 10 in Redwood City, California.

Homes, 37, is currently awaiting criminal trial and has pleaded not guilty to multiple counts of wire fraud and conspiracy to commit wire fraud.

Holmes’ pregnancy was first revealed in March when her counsel and prosecutors filed court documents requesting that her trial’s start date be moved.

The trial has been delayed several times due to the effects of the Covid-19 pandemic – which begins at the end of the month in San Jose, California.

If convicted, Holmes and former Theranos Chief Operating Officer Ramesh “Sunny” Balwani could face up to two decades in prison and a fine of $US250,000 ($A340,000) plus restitution for each count. Holmes and Balwani were indicted in June 2018, and the charges against the pair stem from allegations that they had engaged in a multimillion-dollar scheme to defraud investors and a separate system to defraud doctors and patients.

Balwani’s trial is set to begin in January of next year.

On Wednesday, Northern California US District Judge Edward Davila denied Holmes’ request to suppress specific evidence from the trial, including customer complaints, testing results, and a Centers for Medicare and Medicaid Services report.

Once considered the nation’s youngest female billionaire, Holmes forfeited control of her blood-testing start-up in 2018 when she agreed to pay $US500,000 ($677,000) to settle charges that she oversaw a “massive fraud.” She is barred from serving as an officer or director at any public company for the next decade.

The company, which she founded in 2003, ceased operations in September 2018.

Fox Business’ Stephanie Pagones and Brittany De Lea contributed to this report.

This story originally appeared on Fox News and is reproduced here with permission.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button