It’s been four years since the unforgettable Summer of scams. First there was Anna Delvey aka Anna Sorokin, who posed as a German heiress to con New York’s most important—and richest—people out of hundreds of thousands of dollars. Then there was Elizabeth Holmesoriginal #GirlBoss icon and former big-time Silicon Valley techpreneur who duped investors while wearing her signature black turtleneck.
Like Delvey, whose story was dramatized in the Invents AnnaHolmes gets the Hollywood treatment. Oscar nominee Amanda Seyfried stars as Holmes in apostate, now available to stream on Hulu and even earned an Emmy nomination for its portrayal. Therefore Huluthe series explores “what caused the world’s youngest self-made female billionaire, once touted as ‘the next Steve Jobs,’ to lose everything in an instant.”
In January 2022, Holmes was found guilty of three counts of wire fraud and one count of conspiracy to commit fraud by misleading investors. She is now awaiting sentencing. So how did she get here? The Theranos saga is twisted. Here’s everything you need to know.
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Who is Elizabeth Holmes?
In 2014, Elizabeth Holmes—then a 30-year-old billionaire entrepreneur—made history as a bonafide Silicon Valley #GirlBoss. She had dropped out of Stanford at 19, founded a revolutionary biotech company and landed her first major magazine cover at Assets. Fitting, since her blood-testing company Theranos was valued at $9 billion. Some early supporters included US Treasury Secretary George Schultz, Rupert Murdoch and the Walton family.
But in 2016, people began to question Holmes. The Theranos technology simply didn’t work, and Holmes was believed to have lied about her business operations to make money. By 2018, Theranos had almost completely collapsed – and Holmes was considered a Silicon Valley fraud.
What was Elizabeth Holmes charged with?
In 2018, Elizabeth Holmes and her former Theranos business partner (and ex-boyfriend) Ramesh “Sunny” Balwani, were charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud. (Balwani will be played by Naveen Andrews in Abandoned.) An indictment accused the two of conspiring to “plan, scheme and artificially defraud investors with respect to a material matter,” according to New York Times.
Has Elizabeth Holmes been convicted?
On January 3, 2022, Elizabeth Holmes was found guilty of three counts of wire fraud and one count of conspiracy to commit fraud by misleading investors. A jury found Holmes not guilty on four other fraud-related charges. Therefore NPRthe jury was unable to reach a verdict on three other matters related to investor fraud.
Holmes is now awaiting sentencing. Therefore New York TimesHolmes risks a long prison term:
“Each count of fraud carries up to 20 years in prison, although Ms. Holmes is unlikely to receive the maximum sentence because she has no prior convictions, said Neama Rahmani, the president of West Coast Trial Lawyers and a former federal prosecutor. But he said , that her sentence would likely be on the higher end because of the amount involved. Ms. Holmes raised $945 million for Theranos over the life of the startup, and those investments were ultimately wiped out.”
Who is 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 party back in 2017. The news first came to light when someone close to the couple leaked the news to a podcast. On a section of Inside the Hive with Nick Bilton, Vanity Fair’s Nick Bilton (who covers Silicon Valley) said, “I heard no Theranos people were invited, which is interesting because she’s still friendly with some of her Theranos people.”
A few rumors about the relationship have circulated among former Theranos employees. “She has no money… hello [Billy Evans] is a trust fund baby and has a lot of money and he’s probably helping with the legal bills because Elizabeth’s family doesn’t have money either,” Bilton said on the podcast. He added: “Holmes is getting pregnant before she comes on the stand because she wants to look very likeable as a pregnant woman on the stand.”
Bilton should add viewer to his resume. In August 2021 it was reported that Holmes and Evans gave birth to their first child William Holmes Evans in California. Holmes had only informed the court of her pregnancy in March 2021, according to ABCwhich delayed her trial.
Where is Elizabeth Holmes now?
Holmes remains free on $500,000 bond pending her sentencing in mid-October. It was reported last year that Holmes has been living in a 74-acre mansion worth $135 million in Woodside, California, which is one of the wealthier towns in Silicon Valley. Therefore CNBCthe property is called “Green Gables” and it “evokes the image of an enchanted forest with deer running through the property.”
Meanwhile, Holmes is reportedly working on his next venture. Vanity Fair reported in 2019 that she has met with documentary filmmakers to talk about telling her “real” story.
She is also asking for a new trial after claiming a key witness came to her house unannounced and allegedly said he felt “guilty” about his testimony. CNN reported on Sept. 6. According to a lawsuit filed by Holmes’ attorneys, Adam Rosendorff — a former Theranos lab director and a whistleblower in The Wall Street Journal‘s 2015 investigation into the company — visited Holmes’ home in August. 8 and talked to her husband. Holmes’ lawyers say the impromptu visit counts as new evidence and are requesting a new trial.
How do I see? Abandoned?
The entire series is now streaming exclusively on Hulu. You can see here. ⠀
This story has been updated.
Rose is a senior editor at ELLE, overseeing features and projects on women’s issues. She is a skilled and compassionate storyteller and editor who excels at obtaining exclusive interviews and uncovering compelling features.