THERANOS FOUNDER ACCUSED OF FRAUD NOW PREGNANT AND WANTS TO DELAY FEDERAL TRIAL.

thanos
Source: MEGA

Mar. 13 2021, Updated 2:10 p.m. ET

Link to FacebookShare to TwitterShare to Email

The CEO of Theranos Inc. Elizabeth Holmes, who faces federal charges over an alleged scheme to defraud investors of millions, wants to delay her trial because she is pregnant. 

Article continues below advertisement

On Friday, lawyers from both her defense and federal prosecutors provided an update on the case's status to a judge in California. 

In a filing, the sides asked a judge to delay the trial, which was expected to start on July 13. 

Holmes has a due date for July. 

Her lawyers told federal prosecutors that she was pregnant earlier this month, according to the filing. 

Article continues below advertisement

The sides asked the judge to delay the trial until Aug. 31. They did not ask to move the dates of any pre-trial deadlines because of the pregnancy.

The trial has already been delayed once because of the COVID-19 pandemic. 

In 2018, Holmes and Ramesh "Sunny" Balwani were charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. 

Holmes was a rising star in the tech industry through her company, Theranos , which claimed to provide a breakthrough medical blood testing system. But, prosecutors say the company knew the testing could not produce constant and accurate results. 

The two used schemes to defraud investors, doctors and patients of millions of dollars, prosecutors say. 

They made false claims about the testing reliability and bought advertisements to convince people to purchase the testing at local pharmacies. They also told investors that Theranos would generate more than $100 million and that revenues were expected to grow to about $1 billion in a year. 

The claims were despite the two knowing the company would only generate small revenues, according to prosecutors. 

Advertisement
More Stories

© Copyright 2021 Empire Media Group, Inc. Front Page Detectives is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.