Five major things that happened since the arrest of Elizabeth Holmes

After eight gripping episodes, Hulu’s drop out A jaw-dropping ending has finally arrived. The final episode featured Theranos CEO Elizabeth Holmes on her last day at her failed company.

Titled “Lizzie,” the finale follows the Securities and Exchange Commission’s decision to ban Holmes from serving as an officer or director of a public company, following the work of whistleblowers Erica Cheung and Tyler Schultz, as well as her private and done after the breakup of business relations. With former COO Sunny Balwani.

The final episode also revealed that Holmes was facing up to 20 years in prison on nine counts of wire fraud and two counts of conspiracy to commit wire fraud. So, what has happened since Elizabeth Holmes was indicted back in June 2018? newsweek You have everything you need to know.

5 Major Things That Happened Since Elizabeth Holmes’ Arrest

1. Sunny Balwani and Elizabeth Holmes Go on Trial

In June 2018, Holmes and Balwani, who were also Holmes’ boyfriends for a while, were indicted on nine counts of wire fraud and two counts of conspiracy to commit wire fraud.

Prosecutors argued that Holmes and Balwani deceived investors to defraud and defraud individual doctors and patients.

The indictment alleged that Holmes and Balwani “made false claims about Theranos’ ability to provide accurate, rapid, reliable and cheap blood tests and test results” and omitted information about problems associated with Theranos’ technology.

The indictment also states that both Holmes and Balwani were aware that Theranos was “not able to produce consistently accurate and reliable results for certain blood tests” and made “multiple misrepresentations” to potential and current investors.

Both Balwani and Holmes pleaded not guilty and were released on bail.

They originally intended to be tried together, but in March 2020, US District Judge Edward Davila ruled that they would be tried separately.

2. Elizabeth Holmes becomes mother

In July 2021, Elizabeth Holmes and her boyfriend Billy Evans welcomed their baby son into the world.

Evans, who is the heir to the Evans Hotel Group, met Holmes at a party in 2017 and attended the Burning Man festival in 2018.

Today, she lives with Evans on a 74-acre estate in San Jose, California.

3. Announcement of the decision of Elizabeth Holmes

Holmes’ trial began on August 31, 2021, after a long delay due to the COVID-19 pandemic and her pregnancy.

In January 2022, Holmes was found guilty of four counts of defrauding investors – three counts of wire fraud, and one count of conspiracy to commit wire fraud.

He was found not guilty of four counts of defrauding patients – three counts of wire fraud and one of conspiracy to commit wire fraud.

The jury did not pronounce verdicts on three counts of defrauding investors.

Today, she remains a free woman on a $500,000 bond, following Balwani’s trial to be sentenced in September 2022.

He faces up to 20 years in prison.

Elizabeth Holmes, founder and former CEO of blood testing and life sciences company Theranos, arrives on the first day of her fraud trial outside Federal Court in San Jose, California. September 8, 2021.
Nick Otto/AFP via Getty Images

3. Sunny Balwani’s trial begins

In 2009, Sunny Balwani became the COO of Theranos, a position he left the company until 2016.

Like Holmes, Balwani was charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud.

The prosecution argues that Balwani was an aide of Holmes. On the other hand, his defense claim Balwani could not have been fraudulent as he had never earned any money from Theranos.

Balwani’s trial began in late March 2022 and continues to this day. Like Holmes, he faces up to 20 years in prison if convicted.

At her trial, her defense must respond to the misconduct allegations leveled against her by Holmes during her testimony at her own trial.

In his lawsuit, Holmes said that Balwani controlled and sexually abused her. In court, she alleged that Balwani wanted to “kill the person she was” and make her the “new Elizabeth”. Washington Post.

However, Holmes said during his testimony that Balwani never forced him to make any false statements to investors or other Theranos affiliates.

Balwani has “categorically” denied the abuse allegations leveled by Holmes, calling them “false and provocative”.

4. Erica Cheung and Tyler Schultz Today

Former lab assistant Erica Cheung spent three days testifying during Elizabeth Holmes’ trial but today, Theranos is slowly becoming a thing of the past.

Today, Cheung is the co-founder of a non-profit called Ethics in Entrepreneurship, which he co-founded with his fellow Theranos whistleblower, Tyler Schultz.

Unlike Cheung, Schultz was not called to testify, but did participate in Holmes’ trial.

Today, he runs his own biotech start-up called Flux Biosciences, which focuses on fertility testing and diagnostics.

5. George Schultz died

At the end of drop outIt is revealed that former Theranos board member George Schultz never apologized to his grandson, Tyler Schultz, who went on record for John Carrerou. wall street journal,

Carreyrou’s articles and later his book Bad Blood: Secrets and Lies in a Silicon Valley Startup He was instrumental in exposing Theranos’ failures and practices and, later, its downfall.

as seen in drop outGeorge Schultz, the former US Secretary of State, and Tyler Schultz did not take a close look at Tyler Schultz’s involvement, although before Schultz’s death in February 2021, he told his grandson that he had done the right thing.

drop out Now streaming on Netflix.

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