On Tuesday, Elizabeth Holmes' bid to remain free while she appeals her fraud conviction was rebuffed. On Wednesday, the disgraced Theranos founder received the reporting date to begin her 11-year sentence: May 30, per Judge Edward Davila, who also presided over her trial. CNN Business reports that Davila agreed to the post-Memorial Day date requested in a filing Wednesday by Holmes' attorneys, who said the 39-year-old needed time to make medical arrangements and set up child care for her two young children.
It's not yet clear where Holmes will be incarcerated, but Davila had previously suggested she spend her sentence at a minimum-security federal prison in Bryan, Texas. The AP notes that Holmes became pregnant with her now 1-year-old son, William, right before her trial began in September 2021. She became pregnant with daughter Invicta, now 3 months, soon after her conviction. Holmes shares both children with partner Billy Evans. Meanwhile, Holmes' former romantic partner, ex-Theranos COO Ramesh "Sunny" Balwani, appeared in a new headline with her on Tuesday, when both were ordered to pay $452 million in restitution to victims of the blood-testing firm's fraud.
Davila ruled that the pair "will be jointly and severally liable for this sum," meaning that one of the parties alone could be held responsible for the full amount, per CNN. Lawyers for both Holmes and Balwani had argued that other "intervening" events had contributed to investor losses, but Davila dismissed that argument. "The victims' losses occurred at the moment they exchanged their money for Theranos shares," Davila said, per Reuters. Balwani, who was convicted of fraud in his own trial, began his 13-year prison sentence last month. (More Elizabeth Holmes stories.)
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