Elizabeth Holmes, founder of Theranos attempted to leave the country in January 2022, according to prosecutors. She purchased a one-way ticket to Mexico, not long after she was found guilty of fraud.
In January of last year, Holmes was convicted of defrauding investors while leading the discredited blood-testing start-up Theranos, which had a former value of $9 billion ( £7.5 billion), Holmes was found guilty. She received a prison term of over 11 years in November. Holmes has filed an appeal of her conviction, and because of her pregnancy and the lengthy waiting period, which the prosecution called “generous,” she will not begin serving her prison term until this spring.
The allegation that she attempted to flee the country last year came to light as part of a new filing from the prosecution arguing that Holmes should start serving her prison sentence instead of living on an estate with upkeep costs estimated to be $13,000 per month, and borne by her. As her attorneys claimed, Holmes has provided convincing evidence that she is not a flight risk; however, prosecutors contend otherwise and cite the alleged incident from 2022 to back up their claims.
The court filing states that on January 23, 2022, the government learned that Defendant Holmes had reserved a foreign flight to Mexico departing on January 26, 2022, without a scheduled return flight. The trip was canceled only after the government intervened and raised this with the defense counsel.
Early in January 2022, Holmes was found guilty of defrauding investors; in November of that same year, he received a sentence of more than 11 years in prison. She was instructed to self-surrender to prison on April 27 this year during her sentencing hearing.
Soon after, she appealed her conviction, and now is pleading with a judge to grant her a stay of execution through the end of April while her case is being heard in federal court. That procedure might take a full year. Her attorneys also asserted that Holmes would raise “substantive questions” that might require a new trial. On March 17, a judge will consider her request to put off her prison term while she files an appeal.
At the age of 19, Holmes left Stanford University and founded Theranos. After executives said the company could revolutionize disease diagnosis, the company’s value soared. The rise and fall of the start-up were covered in a number of podcasts and TV programmes, including The Dropout on Hulu, which starred Amanda Seyfried as Holmes.
Sunny Balwani, Holmes’ business partner and the former CEO of Theranos, received a nearly 13-year prison term in December for defrauding investors and patients.
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Elizabeth Holmes Sentenced to 11 + Years For Theranos Fraud: Will Appeal In April 2023
