When you are the CEO of a tech startup and your company is accused of fraud, (Elizabeth Holmes Allegedly Tried) you might understandably try to flee the country. But that’s not what Elizabeth Holmes allegedly did. According to The New York Times, after being found guilty of fraud by the SEC, Holmes tried to leave the country but was stopped at the border by U.S. Marshals.
She was then flown back to the United States and is currently in detention awaiting trial. This story sheds light on one of the more bizarre aspects of the Holmes story: her apparent attempt to flee the country while her company is being investigated for fraud. It also raises questions about whether or not she had any legal representation during her flight.
Elizabeth Holmes Was Found Guilty Of Fraud
Elizabeth Holmes, the founder of the now-defunct company Theranos, was found guilty of fraud by a jury on Wednesday. The verdict against Holmes comes almost two years after her company was shut down due to allegations that it had exaggerated the capabilities of its technology.
According to court documents, Holmes spent more than $700,000 on flights and other travel expenses between 2014 and 2016 in an attempt to avoid prosecution. Prosecutors said that she also planned to leave the country once she was caught. However, authorities were able to track her down and arrest her at a hotel in Mexico City on March 19th.
Elizabeth Holmes Allegedly Tried
After being found guilty of fraud, Elizabeth Holmes allegedly tried to “flee the country” to Mexico. In a criminal trial that has captured the attention of the tech world, the young CEO of Theranos is charged with stealing millions from investors. Prosecutors allege that Holmes committed hundreds of breaches of trust and attempted to flee the country after being caught. Investigators say they found fake passports, driver’s licenses, and financial documents on her computer when they raided her home in March 2016.
Holmes Has A $500 Million Dollar Bail
In a startling turn of events, it was recently reported that Elizabeth Holmes, the founder of Theranos, attempted to flee the country just days after being found guilty of fraud. The Wall Street Journal is reporting that Holmes and her partner, Ramesh Balwani, flew to Mexico on Tuesday in an effort to avoid sentencing.
According to prosecutors, Holmes and Balwani believed they would be able to hide their whereabouts by using Balwani’s Mexican passport. However, their efforts were foiled when they were stopped at the airport and detained for questioning. Holmes and Balwani have now been extradited back to the United States and are scheduled to stand trial next month.
This latest development in the saga of Theranos is sure to cast a shadow over what was once one of Silicon Valley’s most promising startups. Holmes’ fall from grace has been a long time coming, but this attempted escape marks the final indignity in what has been a bitterly disappointing year for her investors and employees alike.
Holmes Will Be Sentenced On March 6th
After being found guilty of fraud, Elizabeth Holmes allegedly tried to “flee the country” to Mexico. The $500 million she was accused of stealing from her company will now likely be put back into the pockets of those who were hurt by her actions.
Authorities say that after being found guilty on March 6th, Holmes walked out of the courtroom with an attorney and refused to answer any questions from reporters. She is scheduled for a sentencing hearing in June where she could receive up to 20 years in prison.
ABC News reported that Holmes was “visibly shaken” as the verdict was read and refused to make any statements to reporters after leaving the courthouse.