Disgraced Theranos CEO Elizabeth Holmes has avoided starting her more than 11-year prison sentence by deploying the same legal maneuver that enabled her co-conspirator to remain free for an additional month.
Balwani, 57, is now serving a nearly 13-year prison sentence in a federal prison located in San Pedro, California after being convicted ofAlthough they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos’ blood-testing system as a revolutionary breakthrough in health care.
The claims helped the company become a Silicon Valley sensation that raised nearly $1 billion from investors.about a month ago, shortly after giving birth to her second child in an attempt to persuade Davila to allow her to remain free while she appeals her conviction. Davila, who scolded Holmes for betraying Silicon Valley's history of innovation when heDavila had recommended Holmes be incarcerated at a low-security prison camp in Bryan, Texas, but it has not been publicly disclosed if that is where she has been assigned to serve her sentence. The news of Holmes' latest legal maneuver emerged the same day that it was announced one of the federal prosecutors who helped convict her is leaving the U.S. Attorney's office in San Jose, California. Jeffrey Schenk, who also helped convict Balwani in that trial, will specialize in defending people accused of white-collar crimes as a partner for the law firm Jones Day in Silicon Valley.
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