After 19 rejected pretrial motions, U.S. federal district court judge Edward Davila once again denied a request made by Elizabeth Holmes, this one related to her argument to remain free on bail.
Elizabeth Holmes, scheduled to begin her 11-year prison sentence in April for defrauding investors out of millions, has given birth to her second child. Her attorneys are arguing that she should be allowed to stay out of jail while they appeal her conviction.
Federal prosecutors say that Elizabeth Holmes booked a flight to Mexico departing on Jan. 26, 2022, just weeks after she had been convicted of four counts of wire fraud for deceiving investors.
Ramesh “Sunny” Balwani was convicted of 12 felony counts related to the fraud at the company, Theranos, that Elizabeth Holmes founded, and received a longer sentence than Holmes.
Elizabeth Holmes’ “soon-to-be-born child” will “incentivize her to comply with her conditions of release,” the disgraced Theranos founder’s lawyers wrote in a newly filed motion.
Elizabeth Holmes, who was convicted of three counts of felony wire fraud and felony conspiracy to commit wire fraud, was sentenced to 11.25 in prison during a hearing in federal court on Friday.
“[Elizabeth Holmes] repeatedly chose lies, hype, and the prospect of billions of dollars over patient safety and fair dealing with investors,” prosecutors wrote in a lengthy sentencing memorandum asking for 15 years behind bars and $803M in restitution.
