What Occurred to Elizabeth Holmes, the Topic of Hulu’s The Dropout?

It’s been 4 years because the unforgettable Summer of Scam. First, there was Anna Delvey aka Anna Sorokin, who was posed as a German heiress to trick New York’s most essential—and wealthiest—individuals out of a whole bunch of 1000’s of {dollars}. Then there was Elizabeth Holmes, unique #GirlBoss icon and former big-time Silicon Valley techpreneur, who duped traders whereas sporting her signature black turtleneck.

Like Delvey, whose story was dramatized in Inventing Anna, Holmes acquired the Hollywood remedy. Oscar nominee Amanda Seyfried starred as Holmes in The Dropout, now out there to stream on Hulu, and even earned an Emmy nomination for her portrayal. In keeping with Hulu, the collection explores “what brought about the world’s youngest self-made feminine billionaire, as soon as heralded as ‘the subsequent Steve Jobs,’ to lose every thing within the blink of a watch.”

In January 2022, Holmes was discovered responsible of three counts of wire fraud and one rely of conspiracy to commit wire fraud by deceptive traders. In November, she was sentenced to 11 years in jail. So how did she get right here? The Theranos saga is twisty one. Right here’s every thing that you must know.

Who’s Elizabeth Holmes?

In 2014, Elizabeth Holmes—then a 30-year-old billionaire entrepreneur—was making historical past as a bonafide Silicon Valley #GirlBoss. She had dropped out of Stanford on the age of 19, based a revolutionary biotech firm, and landed her first main journal cowl at Fortune. Becoming, on condition that her blood-testing firm Theranos was valued at $9 billion. Some early backers included U.S. Treasury Secretary George Schultz, Rupert Murdoch, and the Walton household.

However by 2016, individuals started to query Holmes. The Theranos know-how merely didn’t work, and Holmes was thought to have lied about her enterprise operations to generate income. In 2018, Theranos had all however utterly collapsed—and Holmes was deemed a Silicon Valley scammer.

What was Elizabeth Holmes charged with?

In 2018, Elizabeth Holmes and her former Theranos enterprise companion (and ex-boyfriend) Ramesh “Sunny” Balwani, had been charged with 9 counts of wire fraud and two counts of conspiracy to commit wire fraud. (Balwani will probably be performed by Naveen Andrews in The Dropout.) An indictment accused the 2 of plotting to “scheme, plan and artifice to defraud traders as to a fabric matter,” based on The New York Times.

elizabeth holmes

MediaNews Group/Bay Space Information through Getty Photos

Has Elizabeth Holmes been sentenced?

On January 3, 2022, Elizabeth Holmes was discovered responsible of three counts of wire fraud and one rely of conspiracy to commit wire fraud by deceptive traders. A jury discovered Holmes not responsible on 4 different fees related to fraud. In keeping with NPR, the jury couldn’t attain a choice on three different counts tied to investor fraud.

Holmes now awaits sentencing. In keeping with The New York Times, Holmes faces main jail time:

“Every rely of wire fraud carries as much as 20 years in jail, although Ms. Holmes is unlikely to obtain the utmost sentence as a result of she has no prior convictions, mentioned Neama Rahmani, the president of the West Coast Trial Attorneys and a former federal prosecutor. However he mentioned her sentence was more likely to be on the upper finish due to the quantity of the cash concerned. Ms. Holmes raised $945 million for Theranos in the course of the start-up’s lifetime and people investments had been finally worn out.”

Who’s Elizabeth Holmes married to?

Elizabeth Holmes is married to hotel heir Billy Evans. They reportedly tied the knot in 2019 and first met at a celebration again in 2017. The information first got here to gentle when somebody near the couple leaked the information to a podcast. On an episode of Inside the Hive With Nick Bilton, Self-importance Truthful’s Nick Bilton (who covers Silicon Valley) mentioned, “I heard that no Theranos individuals had been invited, which is fascinating as a result of she’s nonetheless pleasant with a few of her Theranos of us.”

elizabeth holmes and billy evans

Elizabeth Holmes together with her companion Billy Evans after she was discovered responsible in her fraud trial on January 3, 2022.

NICK OTTO

A number of rumors concerning the relationship have circulated amongst ex-Theranos staff. “She doesn’t have any cash… he [Billy Evans] is a belief fund child and has some huge cash, and he’s most likely serving to out with the authorized payments, as a result of Elizabeth’s household does not have cash both,” Bilton mentioned on the podcast. He added: “Holmes is gong to get pregnant earlier than she will get on the stand as a result of she is going to look very sympathetic as a pregnant lady on the stand.”

Bilton ought to add seer to his resume. In August 2021, it was reported that Holmes and Evans gave beginning to their first baby William Holmes Evans in California. Holmes had first knowledgeable the courtroom of her being pregnant in March 2021, based on ABC, which delayed her trial.

elizabeth holmes interviewed by media

Elizabeth Holmes throughout her trial.

NICK OTTO

The place is Elizabeth Holmes now?

Earlier than her sentence, Holmes remained free on a $500,000 bond whereas awaiting her destiny. It was reported final yr that Holmes had been dwelling in a 74-acre, $135 million mansion in Woodside, California, which is likely one of the wealthier cities in Silicon Valley. In keeping with CNBC, the property known as “Inexperienced Gables,” and it “evokes the picture of an enchanted forest with deer operating by the property.”

Throughout her time there, Holmes reportedly moved onto her subsequent enterprise. Vanity Fair reported in 2019 that she has met with documentary filmmakers to speak about telling her “actual” story.

She additionally requested for a brand new trial after claiming {that a} key witness got here to her home unannounced and allegedly mentioned he felt “responsible” about his testimony, CNN reported on Sept. 6. In keeping with a courtroom submitting made by Holmes’ attorneys, Adam Rosendorff—a former Theranos lab director and a whistleblower in The Wall Avenue Journal‘s 2015 investigation into the corporate—visited Holmes’ dwelling on Aug. 8 and spoke to her husband. Holmes’ legal professionals say the impromptu go to counts as new proof and had been requesting a brand new trial.

However on Friday, November 17, U.S. District Decide Edward Davila sentenced Holmes to 11 years in jail, which is shorter than the 15-year penalty requested by federal prosecutors. She confronted a most sentence of 20 years. Prosecutors requested that Holmes be compelled to pay $804 million in restitution of the $1 billion she raised from traders, however a future listening to will resolve her monetary penalty.

Earlier than her sentence was delivered, Holmes read a speech to the courtroom, saying, “I’m devastated by my failings. I’ve felt deep ache for what individuals went by, as a result of I failed them. I remorse my failings with each cell of my physique.”

Holmes is at the moment pregnant together with her second baby, and should report back to serve her sentence in April of 2023, which ought to permit her to have her supply exterior of jail.

She is taken into account a “flight threat.“

It was reported in January 2023, that prosecutors need Holmes in jail ASAP, as a result of they take into account her a flight threat. They said in courtroom paperwork that Holmes made “an try to flee the nation” in 2022.

“The federal government turned conscious on January 23, 2022, that Defendant Holmes booked a world flight to Mexico departing on January 26, 2022, with out a scheduled return journey,” prosecutors alleged. “Solely after the federal government raised this unauthorized flight with protection counsel was the journey canceled.”

They added that “the motivation to flee has by no means been greater” and she or he “has the means to behave on that incentive.”

Holmes’ protection legal professionals declare she booked the flight earlier than she was convicted as a result of she was planning to attend a pal’s wedding ceremony in Mexico if every thing labored out for it. However then it did not.

How do I watch The Dropout?

The whole collection is now streaming completely on Hulu. You’ll be able to watch here. ⠀

This story has been up to date.

Headshot of Rose Minutaglio

Senior Editor

Rose is a Senior Editor at ELLE overseeing options and initiatives about girls’s points. She is an completed and compassionate storyteller and editor who excels in acquiring unique interviews and unearthing compelling options.
 

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