Convicted fraudster <a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a> appears to have had two years removed from her 11-year sentence for defrauding investors of her failed blood-testing startup, <a href="https://www.dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a>.
Holmes reported to federal prison on May 30 to start her sentence, but an update to her inmate details on the Bureau of Prisons website now lists her expected release date as December 29, 2032, NBC News <a href="https://www.nbcnews.com/news/us-news/disgraced-theranos-founder-elizabeth-holmes-prison-sentence-appears-sh-rcna93593?cid=sm_npd_nn_fb_ma&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=facebook&amp;_branch_match_id=1133745504221936325&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXz0tKzkstL9ZLLCjQy8nMy9Z3y7N0i6r0Lc1xSgIA4y8P2iQAAAA%3D" target="_blank" rel="noopener">reported</a>. The projected release date includes time for good behavior and other mechanisms that allow for early release.
Holmes, the founder and CEO of Theranos, is currently being held in a minimum-security prison in Texas after being sentenced to 11 years in November. She and former boyfriend and Theranos President Ramesh “Sunny” Balwani were also ordered to pay more than $452 million in restitution.
In June, prosecutors proposed that Holmes pay $250 a month toward her share of the restitution after she is released from prison, Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-06-12/holmes-objects-to-250-a-month-victim-payments-after-prison?srnd=premium&amp;sref=yaJhKSOh&amp;leadSource=uverify%20wall" target="_blank" rel="noopener">reported</a>. Holmes’ attorneys argued that the payment plan was due to a clerical error, but prosecutors denied this claim.
Holmes’ attorneys said the judge considered “substantial evidence showing Ms. Holmes’ limited financial resources and has appropriately treated Ms. Holmes and Mr. Balwani differently in sentencing.”
Holmes <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html" target="_blank" rel="noopener">told</a> The New York Times last month that she was struggling to pay her legal bills, saying, “I have to work for the rest of my life to try to pay for it.”
It is unlikely those harmed by Holmes’ actions will ever receive their full restitution. Daniel Richman, a professor at Columbia Law School and a former federal prosecutor in Manhattan, <a href="https://www.businessinsider.com/elizabeth-holmes-says-she-cant-afford-restitution-2023-6" target="_blank" rel="noopener">told</a> Insider that “generally, most restitution is never paid.”
While preparing for trial, Holmes and her partner, hotel heir Billy Evans, traveled the country and lived in an RV. They even went to Burning Man, where general admission tickets cost at least $500, with another $100+ for vehicle passes.
During her trial and while appealing her conviction, Holmes <a href="https://nypost.com/2023/01/20/elizabeth-holmes-living-in-13000-per-month-estate-showing-no-remorse-feds/" target="_blank" rel="noopener">reportedly</a> lived on the grounds of a $13,000-per-month estate, federal prosecutors wrote in a court filing, according to the New York Post. The $135 million mansion sat on 74 acres in Woodside, California.
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Evans, Holmes’ partner and the father of her two children, is the heir to the Evans Hotel Group, with a net worth estimated to be around $10 million.
Holmes claimed her company could provide rapid blood tests using a much smaller amount of blood than conventional tests. Holmes also tried to accuse Balwani of abuse. Text messages between the two, however, <a href="https://www.dailywire.com/news/texts-between-theranos-founder-elizabeth-holmes-and-ex-boyfriend-cast-doubt-on-her-abuse-claims" target="_blank" rel="noopener">showed a loving relationship</a>, although Balwani had a reputation for treating employees poorly.

Disgraced Theranos Founder Elizabeth Holmes

Elizabeth Holmes Expected To Be Released From Prison 2 Years Early

Crime

Elizabeth Holmes

Fraud

Theranos

U.S.

Convicted fraudster <a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a> says she won’t be able to make $250 a month restitution payments after she is released from prison, citing limited financial resources.
Holmes, the founder and CEO of failed blood-testing company <a href="https://www.dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a>, is currently being held in a minimum-security prison in Texas after being sentenced in November to 11 years in prison. She and former boyfriend and Theranos President Ramesh &#8220;Sunny&#8221; Balwani were also ordered to pay more than $452 million in restitution.
On Monday, prosecutors proposed that Holmes pay $250 a month toward her share of the restitution after she is released from prison, Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-06-12/holmes-objects-to-250-a-month-victim-payments-after-prison?srnd=premium&amp;sref=yaJhKSOh&amp;leadSource=uverify%20wall" target="_blank" rel="noopener">reported</a>. Holmes’ attorneys argued that the payment plan was due to a clerical error, but prosecutors denied this claim.
Holmes’ attorneys said the judge in this case considered &#8220;substantial evidence showing Ms. Holmes&#8217; limited financial resources and has appropriately treated Ms. Holmes and Mr. Balwani differently in sentencing.&#8221;
Holmes <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html" target="_blank" rel="noopener">told</a> The New York Times last month that she was struggling to pay her legal bills, saying, &#8220;I have to work for the rest of my life to try to pay for it.&#8221;
It is unlikely those harmed by Holmes’ actions will ever receive their full restitution. Daniel Richman, a professor at Columbia Law School and a former federal prosecutor in Manhattan, <a href="https://www.businessinsider.com/elizabeth-holmes-says-she-cant-afford-restitution-2023-6" target="_blank" rel="noopener">told</a> Insider that “generally, most restitution is never paid.&#8221;
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While preparing for trial, Holmes and her partner, hotel heir Billy Evans, traveled the country and lived in an RV. They even went to Burning Man, where general admission tickets cost at least $500, with another $100+ for vehicle passes.
During her trial and while she was appealing her conviction, Holmes <a href="https://nypost.com/2023/01/20/elizabeth-holmes-living-in-13000-per-month-estate-showing-no-remorse-feds/" target="_blank" rel="noopener">reportedly</a> lived on the grounds of a $13,000-per-month estate, federal prosecutors wrote in a court filing, according to the New York Post. The $135 million mansion sat on 74 acres in Woodside, California.
Evans, Holmes’ partner and the father of her two children, is the heir to the Evans Hotel Group, with a net worth estimated to be around $10 million.
Holmes reported to prison on May 30 to begin her sentence. She was found guilty in January 2022 on four out of 11 charges of fraud relating to her failed blood-testing startup.
Holmes claimed her company could provide rapid blood tests using a much smaller amount of blood than conventional tests. Holmes also tried to accuse Balwani of abuse. Text messages between the two, however, <a href="https://www.dailywire.com/news/texts-between-theranos-founder-elizabeth-holmes-and-ex-boyfriend-cast-doubt-on-her-abuse-claims" target="_blank" rel="noopener">showed a loving relationship</a>, although Balwani had a reputation for treating employees poorly.

Theranos Founder Elizabeth Holmes

Elizabeth Holmes, Who Lived At $135 Million Estate, Says She Can’t Afford $250 A Month Restitution After Release

Elizabeth Holmes, Who Lived At $135 Million Estate, Says She Can't Afford $250 A Month Restitution After Release

An appeals court has rejected convicted fraudster Elizabeth Holmes’ bid to remain out of prison while she appeals the convictions against her.
Holmes, the founder and CEO of failed blood-testing company <a href="https://www.dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a>, will have to report to prison, leaving behind her current partner and her two young children, both of whom she had after being charged with fraud. A date has not been set for when Holmes will have to report for prison, the Associated Press reported.
The Ninth Circuit Court of Appeals’ decision comes nearly three weeks after Holmes’ legal team successfully delayed her sentence from her original start date of April 27.
“Ms. Holmes was on bail at the time the motion was filed,” said <a href="https://www.documentcloud.org/documents/23789599-holmes-nineth-circuit-filing" target="_blank" rel="noopener">court documents</a> from the previous decision. “Therefore, that bail automatically remains in effect until the Ninth Circuit has ruled on her motion.”
In an additional Tuesday, U.S. District Judge Edward Davila ordered Holmes to pay $452 million in restitution to those harmed by her crimes. She is being held jointly liable for the amount along with her former boyfriend and Theranos’ ex-president, Ramesh “Sunny” Balwani, who was tried after Holmes but is already imprisoned, according to the Associated Press.
Holmes had previously asked U.S. District Court Judge Edward Davila to allow her to remain free while she appealed the conviction against her, but in <a href="https://www.documentcloud.org/documents/23772578-2023-04-10-order-denying-dckt-1757_0" target="_blank" rel="noopener">a ruling</a> filed in early April, Davila ruled that the part of the conviction Holmes is appealing will probably not be overturned. Holmes is challenging her conviction based on the evidence presented at trial regarding whether Theranos products “worked as promised,” NBC News <a href="https://www.nbcnews.com/business/business-news/elizabeth-holmes-report-to-prison-fraud-conviction-appeal-rcna79105" target="_blank" rel="noopener">reported</a>.
“Whether the jury heard more or less evidence that tended to show the accuracy and reliability of Theranos technology does not diminish the evidence the jury heard of other misrepresentations Ms. Holmes made to investors,” Davila ruled.
Davila noted in his ruling that Holmes’ conviction wasn’t just based on whether her products worked but also related to the company’s finances and her false claims to investors about what her product did.
Davila did say in his ruling that he didn’t believe Holmes was a flight risk, even though federal prosecutors <a href="https://www.dailywire.com/news/theranos-fraudster-elizabeth-holmes-tried-fleeing-the-country-after-conviction-court-filings-reveal" target="_blank" rel="noopener">revealed</a> earlier this year that Holmes and her husband purchased one-way tickets to Mexico in January 2022 – the same month she was convicted. The tickets were canceled only after the defense counsel was notified.
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“The government anticipates Defendant will note in reply that she did not in fact leave the country as scheduled,” prosecutors wrote, “but it is difficult to know with certainty what Defendant would have done had the government not intervened.”
Holmes’ husband, William “Billy” Evans, allegedly used his ticket and returned six weeks later from a different continent.
In that same document, prosecutors noted that Holmes “continues to show no remorse to her victims.”

Disgraced Theranos Founder Elizabeth Holmes Appears In Court For A Restitution Hearing

Elizabeth Holmes Must Report To Prison, Pay $452 Million In Restitution

<a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a> reacted to actress <a href="https://www.dailywire.com/topic/celebrities" target="_blank" rel="noopener">Amanda Seyfried</a> playing her in the Hulu series “The Dropout,” claiming that portrayal didn’t reflect her true self.
“They’re not playing me,” Holmes told <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html?auth=login-email&amp;login=email&amp;smid=tw-nytimes&amp;smtyp=cur" target="_blank" rel="noopener">The New York Times</a> of Seyfried and others. “They’re playing a character I created.”
Holmes told the publication that she created the persona because “I believed it would be how I would be good at business and taken seriously and not taken as a little girl or a girl who didn’t have good technical ideas. Maybe people picked up on that not being authentic, since it wasn’t,” she said.
The 39-year-old former biotechnology entrepreneur and founder of the blood-testing company <a href="https://dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a> was convicted of fraud in 2022. She is currently out of prison as she appeals her sentence. Holmes was supposed to report for prison on April 27.
Seyfried won an Emmy for her portrayal of Holmes, which included wearing a black turtleneck, red lipstick, and speaking in a deep voice to mimic Holmes. The actress said she wants to play Holmes again in any capacity. “I’m not kidding, a two-hour special. Come on!” Seyfried told Variety in a joint interview with “The Dropout” showrunner Elizabeth Meriwether.
Jennifer Lawrence was going to play Holmes in a movie directed by Adam McKay but has since dropped out of the project, <a href="https://variety.com/2023/tv/news/elizabeth-holmes-reacts-the-dropout-amanda-seyfried-theranos-1235606119/?fbclid=IwAR2-FpvmZMZuYm8v7_vh9pVVbpNpnh1VhRPXCAkaCw2NsGfPqtVL7cBMY5Y" target="_blank" rel="noopener">Variety</a> noted.
Some critics take issue with NYT seemingly allowing Holmes to try to “reinvent” herself as Liz Holmes, a soft-spoken mother of two who is just trying to move forward from the scandal. 
Holmes founded Theranos at 19 in the hopes of developing a revolutionary blood-testing device that could detect a wide range of illnesses using just a finger prick. She quickly became one of the world’s most sought-after entrepreneurs and was toasted by the media for being the youngest self-made female billionaire. 
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After it was discovered that Holmes was lying about the capabilities of the technology, her rise to fame turned into a huge corporate fraud scandal. She was found guilty on four counts of fraud after taking millions of dollars from investors while knowing it was all based on falsehood. Holmes was sentenced to 11 years in prison, which she is currently appealing.

Elizabeth Holmes: Amanda Seyfried Played A ‘Character I Created’ In Hulu Series ‘The Dropout’

Celebrities

Hollywood

<a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a>, the founder and CEO of blood-testing company <a href="https://www.dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a>, went to Burning Man and burned an effigy of Theranos after the company went bust in 2018.
Holmes revealed what she did after her company failed in <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html" target="_blank" rel="noopener">an interview</a> with The New York Times, her first since 2016 when her company was still the darling of Silicon Valley and the media thanks to her role as the youngest female tech billionaire.
“There was an incredible sense of grief because I’d given everything to it, my whole life, since I’d been 18,” she said about the failure of Theranos.
A date for Holmes’ trial was set the following year, in 2019, and prosecutors began building their case against Holmes for defrauding investors by claiming her blood testing device provided dozens of tests on a single drop of blood. Meanwhile, Holmes and her partner Billy Evans, who is the father of her two children, spent the next six months in an RV traveling the country, sleeping at campgrounds and Walmart parking lots, the Times reported. Holmes worked on her defense between outdoor yoga sessions and hikes in national parks.
Holmes is currently <a href="https://www.dailywire.com/news/court-approves-disgraced-theranos-founder-elizabeth-holmes-appeal" target="_blank" rel="noopener">out of prison</a> as she appeals her sentence after a judge approved a last-minute appeal in late April. Holmes was supposed to report for prison on April 27 after being convicted of four counts of fraud in 2022.
“Ms. Holmes was on bail at the time the motion was filed,” <a href="https://www.documentcloud.org/documents/23789599-holmes-nineth-circuit-filing" target="_blank" rel="noopener">court documents</a> said. “Therefore, that bail automatically remains in effect until the Ninth Circuit has ruled on her motion.”
Holmes had previously asked U.S. District Court Judge Edward Davila to allow her to remain free while she appealed the conviction against her, but in <a href="https://www.documentcloud.org/documents/23772578-2023-04-10-order-denying-dckt-1757_0" target="_blank" rel="noopener">a ruling</a> filed in early April, Davila ruled that the part of the conviction Holmes is appealing will probably not be overturned. Holmes is challenging her conviction based on the evidence presented at trial regarding whether Theranos products “worked as promised,” NBC News <a href="https://www.nbcnews.com/business/business-news/elizabeth-holmes-report-to-prison-fraud-conviction-appeal-rcna79105" target="_blank" rel="noopener">reported</a>.
“Whether the jury heard more or less evidence that tended to show the accuracy and reliability of Theranos technology does not diminish the evidence the jury heard of other misrepresentations Ms. Holmes made to investors,” Davila ruled.
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Davila noted in his ruling that Holmes’ conviction wasn’t just based on whether her products worked but also related to the company’s finances and her false claims to investors about what her product did.
Davila did say in his ruling that he didn’t believe Holmes was a flight risk, even though federal prosecutors <a href="https://www.dailywire.com/news/theranos-fraudster-elizabeth-holmes-tried-fleeing-the-country-after-conviction-court-filings-reveal" target="_blank" rel="noopener">revealed</a> earlier this year that Holmes and her husband purchased one-way tickets to Mexico in January 2022 – the same month she was convicted. The tickets were canceled only after the defense counsel was notified.
“The government anticipates Defendant will note in reply that she did not in fact leave the country as scheduled,” prosecutors wrote, “but it is difficult to know with certainty what Defendant would have done had the government not intervened.”
Holmes’ husband, William “Billy” Evans, allegedly used his ticket and returned six weeks later from a different continent.
In that same document, prosecutors noted that Holmes “continues to show no remorse to her victims.”

Elizabeth Holmes Went To Burning Man, Lived In RV For Six Months While Preparing For Theranos Trial

Former Miss America Erika Harold criticized recent media coverage of disgraced — and convicted — Theranos founder <a href="https://www.dailywire.com/news/theranos-fraudster-elizabeth-holmes-asked-to-remain-out-of-prison-while-appealing-her-conviction-a-judge-denied-her-request" target="_blank" rel="noopener">Elizabeth Holmes</a>, arguing that a New York Times <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html?smtyp=cur&amp;smid=tw-nytimes" target="_blank" rel="noopener">article</a> profiling her &#8220;new image&#8221; was essentially rewarding her behavior.
Harold, who parlayed her 2003 pageant victory into a Harvard Law degree, critiqued the piece in a Sunday tweet. &#8220;We must stop rewarding bad behavior w/clout + clicks. Elizabeth Holmes isn’t being punished b/c she girl bossed &#8216;too close to the sun.&#8217; She intentionally misled people re a biotechnological device, impacting patients, investors + employees. She doesn’t deserve a phoenix narrative.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
We must stop rewarding bad behavior w/clout + clicks. Elizabeth Holmes isn’t being punished b/c she girl bossed “too close to the sun.” She intentionally misled people re a biotechnological device, impacting patients, investors + employees. She doesn’t deserve a phoenix narrative <a href="https://t.co/Vi5yHi6IAd">https://t.co/Vi5yHi6IAd</a>
&mdash; Erika Harold (@ErikaHarold) <a href="https://twitter.com/ErikaHarold/status/1655274330635288578?ref_src=twsrc%5Etfw">May 7, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
She quoted a tweet sharing NYT <a href="https://www.nytimes.com/2023/05/07/business/elizabeth-holmes-theranos-interview.html?smtyp=cur&amp;smid=tw-nytimes" target="_blank" rel="noopener">article</a> — titled &#8220;Liz Holmes Wants You to Forget About Elizabeth&#8221; — along with the caption, &#8220;The black turtlenecks are gone. So is the voice. As the convicted Theranos founder Elizabeth Holmes awaits prison, she has adopted a new persona.&#8221;
The &#8220;new persona,&#8221; according to the article, is &#8220;devoted mother&#8221; of two young children with partner Billy Evans — and her reinvention comes just ahead of her imminent prison sentence for corporate fraud over Theranos, her blood-testing startup.
The interview, published on Sunday, was conducted at the San Diego Zoo — with Evans and the two children in tow — by the Times&#8217; former reporter-at-large Amy Chozick.
The implication that a transformation has taken place is reinforced by the fact that Holmes, when talking about her time with Theranos, claimed to have not been herself at all but rather a character that she had created.
Responding to Chozick, who told her that actress Jennifer Lawrence had backed out of playing her in a film, Holmes said simply, &#8220;They’re not playing me. They’re playing a character I created.&#8221;
As to why she believed she &#8220;created&#8221; that character, <a href="https://www.dailywire.com/news/breaking-elizabeth-holmes-disgraced-media-darling-behind-theranos-fraud-sentenced-to-11-years-in-prison" target="_blank" rel="noopener">Holmes</a> said, &#8220;I believed it would be how I would be good at business and taken seriously and not taken as a little girl or a girl who didn’t have good technical ideas. Maybe people picked up on that not being authentic, since it wasn’t.&#8221;

Miss America 2003

‘We Must Stop Rewarding Bad Behavior’: Former Miss America Blasts Media Coverage Of Elizabeth Holmes

Former Miss America Blasts Media Coverage Of Convicted Theranos Founder Elizabeth Holmes

Theranos founder and CEO <a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a> avoided reporting to prison for at least an extra month on Thursday to serve her 11-year sentence after a court approved her last-minute appeal earlier this week.
Holmes — who ran the fraudulent biotechnology company — was expected to report to Federal Prison Camp at Bryan, Texas, on April 27 after a court convicted her on four counts of fraud last year for defrauding investors into believing she had revolutionized blood testing. Defense attorneys described the federal prison as &#8220;heaven&#8221; compared to others.
&#8220;Ms. Holmes was on bail at the time the motion was filed,&#8221; according to <a href="https://www.documentcloud.org/documents/23789599-holmes-nineth-circuit-filing" target="_blank" rel="noopener">court documents</a>. &#8220;Therefore, that bail automatically remains in effect until the Ninth Circuit has ruled on her motion.&#8221;
Holmes asked U.S. District Court Judge Edward Davila to allow her to remain free while she appealed the conviction, arguing based on the evidence presented during trial.
Davila ruled earlier this month that the part of the conviction Holmes is appealing will probably not be overturned.
Davila did say in his ruling that he didn’t believe Holmes was a flight risk, even though federal prosecutors <a href="https://www.dailywire.com/news/theranos-fraudster-elizabeth-holmes-tried-fleeing-the-country-after-conviction-court-filings-reveal" target="_blank" rel="noopener">revealed</a> earlier this year that Holmes and her husband purchased one-way tickets to Mexico in January 2022 — the same month she was convicted. The tickets were canceled only after the defense counsel was notified.
&#8220;Whether the jury heard more or less evidence that tended to show the accuracy and reliability of Theranos technology does not diminish the evidence the jury heard of other misrepresentations Ms. Holmes made to investors,&#8221; Davila ruled.
As an entrepreneur, Holmes attracted prominent political and business leaders to back her firm — including former Secretary of State George Shultz and former Defense Secretary James Mattis. Holmes also had close ties to the Clinton family and hosted a fundraiser for Hillary Clinton in 2016.
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During her trial, Holmes&#8217; legal team argued that &#8220;she was merely a young, naïve, ambitious founder who relied too much on others who gave her bad advice,&#8221; claiming she lacked experience.
Holmes also attempted to accuse her ex-boyfriend and Theranos&#8217; ex-president Ramesh &#8220;Sunny&#8221; Balwani of abuse. Text messages between the two, however, seemed to depict a loving relationship.
The Associated Press <a href="https://apnews.com/article/theranos-sunny-balwani-elizabeth-holmes-prison-237bb4da8af239078729791f3f7a7d6c" target="_blank" rel="noopener">reported</a> that Balwani turned himself in on April 20 in San Pedro, California, after attempting to appeal his 13-year sentence.
Since her court proceedings began, Holmes has given birth to two children with her partner William Evans.
Judge Davila recommended Holmes serve at the prison camp in his filing because &#8220;the Court finds that family visitation enhances rehabilitation.&#8221;
The Department of Justice had requested that the disgraced Theranos founder receive 15 years in prison and pay $800 million in restitution to investors like software magnate Larry Ellison and Walmart founders the Walton family.
Ashe Schow contributed to this article.

Theranos Founder Elizabeth Holmes Sentenced For Fraud Conviction

Court Approves Disgraced Theranos Founder Elizabeth Holmes’ Appeal

Court Approves Disgraced Theranos Founder Elizabeth Holmes' Appeal 

<a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a>, the founder and CEO of failed blood-testing company <a href="https://www.dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a>, will have to report to prison while appealing her <a href="https://www.dailywire.com/topic/fraud" target="_blank" rel="noopener">fraud</a> conviction.
Holmes had asked U.S. District Court Judge Edward Davila to allow her to remain free while she appealed the conviction against her, but in <a href="https://www.documentcloud.org/documents/23772578-2023-04-10-order-denying-dckt-1757_0" target="_blank" rel="noopener">a ruling</a> filed on Monday, Davila ruled that the part of the conviction Holmes is appealing will probably not be overturned. Holmes is challenging her conviction based on the evidence presented at trial regarding whether Theranos products “worked as promised,” NBC News <a href="https://www.nbcnews.com/business/business-news/elizabeth-holmes-report-to-prison-fraud-conviction-appeal-rcna79105" target="_blank" rel="noopener">reported</a>.
“Whether the jury heard more or less evidence that tended to show the accuracy and reliability of Theranos technology does not diminish the evidence the jury heard of other misrepresentations Ms. Holmes made to investors,” Davila ruled.
Davila noted in his ruling that Holmes’ conviction wasn’t just based on whether her products worked but also related to the company’s finances and her false claims to investors about what her product did.
Davila did say in his ruling that he didn’t believe Holmes was a flight risk, even though federal prosecutors <a href="https://www.dailywire.com/news/theranos-fraudster-elizabeth-holmes-tried-fleeing-the-country-after-conviction-court-filings-reveal" target="_blank" rel="noopener">revealed</a> earlier this year that Holmes and her husband purchased one-way tickets to Mexico in January 2022 – the same month she was convicted. The tickets were canceled only after the defense counsel was notified.
“The government anticipates Defendant will note in reply that she did not in fact leave the country as scheduled,” prosecutors wrote, “but it is difficult to know with certainty what Defendant would have done had the government not intervened.”
Holmes’ husband, William “Billy” Evans, allegedly used his ticket and returned six weeks later from a different continent.
In that same document, prosecutors noted that Holmes “continues to show no remorse to her victims.”
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Holmes was <a href="https://www.dailywire.com/news/elizabeth-holmes-found-guilty-on-four-counts-of-defrauding-theranos-investors" target="_blank" rel="noopener">found guilty</a> in January 2022 on four out of 11 charges of fraud relating to her blood-testing startup and was <a href="https://www.dailywire.com/news/breaking-elizabeth-holmes-disgraced-media-darling-behind-theranos-fraud-sentenced-to-11-years-in-prison" target="_blank" rel="noopener">sentenced</a> to 11 years in prison.
Judge Davila has <a href="https://www.dailywire.com/news/judge-recommends-prison-with-no-walls-bars-or-fences-for-elizabeth-holmes" target="_blank" rel="noopener">previously recommended</a> Holmes serve her sentence at Federal Prison Camp in Bryan, Texas, a minimum-security federal prison. Criminal defense attorney Alan Ellis <a href="https://www.bloomberg.com/news/articles/2022-11-23/elizabeth-holmes-judge-proposes-texas-prison-camp-family-visits?srnd=premium-europe" target="_blank" rel="noopener">told</a> Bloomberg in November 2022 that Holmes would have “no walls, no bars, no fences” at that particular prison, calling the facility “heaven.”
“No one wants to get … kicked out because compared to other places in the prison system, this place is heaven,” Ellis said. “If you have to go, it’s a good place to go.”
Holmes is expected to report to the prison on April 27.

Theranos Fraudster Elizabeth Holmes Asked To Remain Out Of Prison While Appealing Her Conviction. A Judge Denied Her Request.

Former <a href="http://dailywire.com/topic/theranos" target="_blank" rel="noopener">Theranos</a> CEO <a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a> attempted to flee the country after she was found guilty on multiple charges last year, attorneys said Thursday.
The disgraced biotechnology entrepreneur was <a href="https://www.dailywire.com/news/elizabeth-holmes-found-guilty-on-four-counts-of-defrauding-theranos-investors" target="_blank" rel="noopener">convicted</a> on four counts of wire fraud in early January 2022 and was <a href="https://www.dailywire.com/news/breaking-elizabeth-holmes-disgraced-media-darling-behind-theranos-fraud-sentenced-to-11-years-in-prison" target="_blank" rel="noopener">sentenced</a> to 11 years in prison in November. Federal prosecutors revealed in a <a href="https://s3.documentcloud.org/documents/23581015/us-v-holmes-gov-opp-motion-for-release-pending-appeal.pdf" target="_blank" rel="noopener">court document</a> responding to a request from Holmes for release pending appeal that she “booked an international flight to Mexico” in January 2022 without scheduling a return trip and only canceled the purchase after the defense counsel was notified.
“The government anticipates Defendant will note in reply that she did not in fact leave the country as scheduled,” the document added, “but it is difficult to know with certainty what Defendant would have done had the government not intervened.”
The document said that William “Billy” Evans, who married Holmes in 2019, allegedly departed the country “on the scheduled date with a one-way ticket and did not return until approximately six weeks later, returning from a different continent.” Officials asserted that Holmes “continues to show no remorse to her victims” and is currently seeking to “loosen the restrictions placed on her region of travel based upon vague references to her partner’s work commitments.” She was also granted a lenient amount of time to begin her prison sentence because she and Evans, an heir to a sizable hospitality fortune, are expecting their second child.
“Defendant, however, cannot meet the stringent standard for release pending appeal mandated by Congress. There are not two systems of justice, one for the wealthy and one for the poor, there is one criminal justice system in this country. And under that system, the time has come for Elizabeth Holmes to answer for her crimes committed nearly a decade ago,” the document continued.
Holmes deceived investors into believing that her company’s portable blood analyzer could conduct comprehensive medical tests with mere drops of blood. Her collapsed empire once secured a $9 billion valuation, and she was previously touted by Forbes as the world’s youngest self-made female billionaire.
The Stanford University dropout managed to attract several prominent political and business leaders to back her firm, including former Secretary of State George Shultz and former Defense Secretary James Mattis. She also had close ties to the Clinton family and hosted a fundraiser for Democratic presidential nominee Hillary Clinton in 2016.
Production delays in Theranos machines led the company to <a href="https://www.dailywire.com/news/how-did-elizabeth-holmes-build-her-fraudulent-biomedical-empire" target="_blank" rel="noopener">secretly use</a> traditional blood testing machines manufactured by Siemens and other established firms to complete tests for their partners. In the absence of a functioning device, Holmes still convinced board members, prospective investors, and journalists that her company’s product had been finished.
Ramesh “Sunny” Balwani, the former business and romantic partner of Holmes, has been sentenced to nearly 13 years in prison. Holmes tried to blame Balwani for abuse during her trial, even though <a href="https://www.dailywire.com/news/texts-between-theranos-founder-elizabeth-holmes-and-ex-boyfriend-cast-doubt-on-her-abuse-claims" target="_blank" rel="noopener">text messages</a> between the pair showed a meaningful relationship despite Balwani’s reputation for treating employees poorly.

Theranos Fraudster Elizabeth Holmes Tried Fleeing The Country After Conviction, Court Filings Reveal

Theranos Fraudster Elizabeth Holmes Tried Fleeing The Country

This article is a companion piece to today’s Morning Wire Afternoon Update. To listen to the podcast version, click <a href="https://www.dailywire.com/podcasts/morning-wire" target="_blank" rel="noopener">here</a>.
FBI Looking Into Northwest Electricity Substations Attacks
The FBI <a href="https://www.dailywire.com/news/authorities-report-five-electricity-substations-targeted-in-pacific-northwest-days-after-north-carolina-attacks" target="_blank" rel="noopener">says</a> there have been reports of apparent attacks against at least five electricity substations in Washington State and Oregon in November. The incidents followed what appeared to be deliberate attacks on two substations in North Carolina that resulted in the loss of power for tens of thousands of residents.
Biden Gets Blowback For Prisoner Swap
President Biden has <a href="https://www.dailywire.com/news/americas-enemies-have-a-best-friend-in-biden" target="_blank" rel="noopener">suffered some blowback</a> from his own party for his agreement to a one-for-one swap of WNBA star Britney Griner for infamous Russian arms dealer Viktor Bout, known as “The Merchant of Death.”
Democratic Senator Bob Menendez called it a “deeply disturbing decision,” saying quote, “The Russians and other regimes that take American citizens hostage cannot pretend that there is equivalence between the Brittney Griner’s of the world and people like Viktor Bout, the so-called ‘Merchant of Death.’ Nothing could be further from the truth, and we cannot ignore that releasing Bout back into the world is a deeply disturbing decision.”
Former Marine Disappointed He Hasn&#8217;t Been Freed
Paul Whelan, the former Marine who has been imprisoned in Russia for more than three years, <a href="https://www.dailywire.com/news/i-dont-understand-marine-vet-left-in-russian-prison-greatly-disappointed-after-griner-swap" target="_blank" rel="noopener">told</a> CNN that he doesn’t understand why the Biden administration hasn’t done more to free him, saying, “I am greatly disappointed that more has not been done to secure my release, especially as the four year anniversary of my arrest is coming up. I was arrested for a crime that never occurred. I don’t understand why I’m still sitting here.”
Biden&#8217;s Approval Remains Low
President Biden’s <a href="https://finance.yahoo.com/news/biden-approval-rating-holds-underwater-130431600.html" target="_blank" rel="noopener">approval rating</a> remains at 43% among U.S. adults, about the same as last month. 55% of people disapprove of the job Biden is doing, while just 25% of people describe the economy as “good.”
Detroit School Board Changes Name Of Benjamin Carson High School of Science and Medicine
The Detroit School Board recently voted to change the name of Benjamin Carson High School of Science and Medicine, named for famed neurosurgeon and former Republican presidential candidate Ben Carson. The new name will be Crockett Midtown High School of Science and Medicine. Carson commented this week on the name change.
&#8220;I think it&#8217;s ridiculous that they believe that to solve a problem, you redefine it,&#8221; Carson recently <a href="https://www.foxnews.com/opinion/worked-ben-carson-know-canceling-just-not-right" target="_blank" rel="noopener">said</a>. &#8220;Call it something else and it&#8217;s not a problem anymore &#8230; basically it depends on people being less than intellectually strong. That’s a good way of saying stupid. They know exactly what’s going on.&#8221;
Theranos Executive Sentenced
Former Theranos executive Ramesh “Sunny” Balwani was <a href="https://www.cnn.com/2022/12/07/tech/sunny-balwani-theranos-trial-sentencing/index.html" target="_blank" rel="noopener">sentenced</a> Wednesday to nearly 13 years in prison for his role in the company’s blood-testing fraud. That punishment is slightly longer than that given to CEO Elizabeth Homes, who was his accomplice in one of Silicon Valley’s biggest scandals. The 57-year-old was convicted in July of fraud and conspiracy connected to the company’s faulty medical technology that duped investors and endangered patients.
DOJ Claims &#8216;Bureaucratic Incompetence&#8217; In Whitey Bulger Killing
&#8220;Serious mismanagement,” “bureaucratic incompetence,” and bad policy <a href="https://www.dailywire.com/news/doj-ig-mismanagement-bureaucratic-incompetence-bad-policy-contributed-to-prison-murder-of-former-most-wanted-fugitive-whitey-bulger" target="_blank" rel="noopener">contributed</a> to the death of Boston mob boss James “Whitey” Bulger.
That’s according to a report from the Department of Justice Inspector General released Wednesday. Bulger was killed in the Hazelton prison by three inmates in West Virginia shortly after being transferred from a federal prison in Florida. Bulger was placed on the FBI’s Most Wanted list in 1999 until his arrest in 2011.
Weekly Jobless Claims Increase 
And, weekly jobless claims <a href="https://finance.yahoo.com/news/us-jobless-claims-modestly-last-133803693.html" target="_blank" rel="noopener">increased</a> by 4,000 to 230,000 and long-term or continuing claims rose by 62,000 to 1.67 million — a 10-month high — as the labor market remains tight.
To listen to the audio version of this podcast, <a href="https://podcasts.apple.com/us/podcast/morning-wire/id1576594336" target="_blank" rel="noopener">click here</a>. And for more in-depth discussion of the biggest stories of the day, listen to the latest full episode of Morning Wire every morning.

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Friday Afternoon Update: More Electricity Substations Attacked, Biden Slammed For Prisoner Swap, Weekly Jobless Claims Increase

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Ramesh “Sunny” Balwani, 58, the former president of the fraudulent biotech company Theranos, was sentenced to nearly 13 years in prison on Wednesday for fraud.
Prosecutors originally recommended Balwani receive at least 15 years in prison, which would be a longer sentence than what Elizabeth Holmes, the founder and face of Theranos, received in October, NBC News <a href="https://www.nbcnews.com/business/business-news/former-theranos-executive-sunny-balwani-sentenced-fraud-conviction-rcna60512">reported</a>.
Theranos rose to fame on promises of quick and easy blood tests for hundreds of conditions based on just a drop of blood. The company raised millions of dollars from high-profile donors including Bill Gates and Henry Kissinger. Though the company was lauded by the Obama administration, with then-Vice President Joe Biden touring the company as part of a publicity stunt, a series of investigative articles from The Wall Street Journal’s John Carreyrou revealed the company was lying about its underlying technology.
While Holmes was the face of the company, hailed in the media for being a female tech entrepreneur, Balwani oversaw the company’s labs and ensured faulty test results would be ignored.
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“Mr. Balwani knew that Theranos was not generating, and would not generate, any meaningful revenue by being honest with people,” said U.S. Attorney Jeff Schenk, according to NBC. “So he chose a different path.”
At her trial, Holmes argued that she was simply a young, naïve, and ambitious woman who relied on the wrong people to get her company started. When Holmes actually testified, however, she presented herself the way she had done to investors when Theranos was still operating — as an expert about her company and its technology.
Holmes also tried to blame Balwani for abuse, as the two were romantic partners while operating Theranos. Text messages between the two, however, <a href="https://www.dailywire.com/news/texts-between-theranos-founder-elizabeth-holmes-and-ex-boyfriend-cast-doubt-on-her-abuse-claims">showed a loving relationship,</a> although Balwani had a reputation for treating employees poorly.
In his documentary, “The Inventor,” filmmaker Alex Gibney revealed that while Balwani was considered a tyrant to those who worked for him, he was deferential to Holmes and always appeared supportive of her.
Other texts show Holmes and Balwani apparently discussing how to undermine the claims from two Theranos whistleblowers — Tyler Shultz and Erika Cheung. The two also discussed how they would respond to reporting from Carreyrou, who months later published a damning article showing that Theranos’ machines could not perform the blood tests they claimed. Carreyrou’s reporting revealed that Theranos was lying about its capabilities and using traditional blood analyzers to run most of its blood tests.
Balwani <a href="https://www.dailywire.com/news/former-theranos-president-points-fingers-back-at-elizabeth-holmes-during-fraud-trial">pointed the finger</a> back at Holmes at trial, saying that she founded and built Theranos and thus carried most of the blame.

Jury Reaches Verdict In Criminal Trial Of Former Theranos President Sunny Balwani

Ex-Theranos Exec Sunny Balwani Sentenced To Nearly 13 Years In Prison

Ex-Theranos Executive Sunny Balwani Sentenced 

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A California judge recommended that disgraced biotech entrepreneur and media darling <a href="https://www.dailywire.com/topic/elizabeth-holmes" target="_blank" rel="noopener">Elizabeth Holmes</a>, who was sentenced to 11 years in prison earlier this month, serve her time in a minimum-security federal prison camp.
Holmes — who ran the fraudulent biotechnology company Theranos — received 135 months in prison after defrauding investors into believing she had revolutionized blood testing.
Judge Edward Davila of the Northern District of California recommended she serve her sentence at Federal Prison Camp in Bryan, Texas, which defense attorneys described as “heaven” compared to other prisons.
Criminal defense attorney Alan Ellis told <a href="https://www.bloomberg.com/news/articles/2022-11-23/elizabeth-holmes-judge-proposes-texas-prison-camp-family-visits?srnd=premium-europe" target="_blank" rel="noopener">Bloomberg</a> that if Holmes serves her sentence at the facility, she will face “no walls, no bars, no fences.”
“No one wants to get &#8230; kicked out because compared to other places in the prison system, this place is heaven,” Ellis said. “If you have to go, it’s a good place to go.”
Located about 100 miles northwest of Houston, the prison camp sits on 37 acres of Texas land with about 900 non-violent female inmates serving time for various frauds in dormitory-style housing with a low staff-to-inmate ratio. While serving her time, Holmes has access to games, sports, physical fitness, table games, hobby crafts, music programs, intramural activities, social and cultural organizations, and movies, according to the prison’s <a href="https://www.bop.gov/locations/institutions/bry/BRY_aohandbook.pdf" target="_blank" rel="noopener">handbook</a>.
Holmes, who has a 1-year-old son and is currently pregnant with her second child with her partner William Evans, was convicted on four counts of wire fraud in January following a months-long trial.
Judge Davila recommended Holmes serve at the prison camp in his filing because “the Court finds that family visitation enhances rehabilitation.”
As an entrepreneur, Holmes managed to attract prominent political and business leaders to back her firm — including former Secretary of State George Shultz and former Defense Secretary James Mattis. Holmes also had close ties to the Clinton family and hosted a fundraiser for Hillary Clinton in 2016.
During her trial, Holmes’ legal team argued that “she was merely a young, naïve, ambitious founder who relied too much on others who gave her bad advice,” claiming she lacked experience.
Holmes also attempted to accuse her ex-boyfriend and Theranos’ ex-president Ramesh “Sunny” Balwani of abuse. However, the couple’s text messages seemed to depict a loving relationship.
According to the <a href="https://nypost.com/2022/11/23/judge-recommends-cushy-prison-camp-for-elizabeth-holmes/?utm_campaign=SocialFlow&amp;utm_source=NYPTwitter&amp;utm_medium=SocialFlow" target="_blank" rel="noopener">New York Post</a>, Bureau of Prisons officials will decide where Holmes serves her time.
The Department of Justice had requested that the disgraced Theranos founder receive 15 years in prison and pay $800 million in restitution to investors like software magnate Larry Ellison and Walmart founders the Walton family.
Holmes is expected to start her incarceration on April 27, 2023.
Ben Zeisloft and Eric Quintanar contributed to this report.

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