Embarrassed Elizabeth Holmes, the founder of Theranos, is pregnant, which is causing the fraud trial to be postponed.
After Elizabeth Holmes announced something unexpected, the disgraced Theranos founder's $900 million fraud trial has been postponed once again.
New court records show that Elizabeth Holmes, the notorious founder of the now-defunct blood-testing company Theranos, is expecting a child.
Ms Holmes is facing several federal fraud charges and is reportedly awaiting trial.
She is accused of defrauding high-profile investors such as Rupert Murdoch, the Walton family, the founders of Walmart, and tech billionaire Larry Ellison of more than $A900 million.
Holmes has always denied the charges, insisting on her innocence.
Owing to her pregnancy and imminent July birth, both her attorneys and the prosecution have asked that her trial be delayed until August 31, 2021. Holmes officially married hotel heir Billy Evans in a secret wedding in March 2019, despite the fact that the father has not been revealed.
According to the filing, “the parties have met and consulted, and all parties accept that, in view of this progress, it is not necessary to begin the trial on July 13, 2021, as currently scheduled.”
“In light of Defendant's pregnancy, the parties have agreed to commence jury selection on August 31, 2021, and respectfully request that the Court order it.”
Although the embattled CEO's fall from grace has been well known, Holmes' performance at Theranos earned her the title of America's youngest billionaire during the company's heyday.
With a well-documented fear of needles, Holmes believed that Theranos had developed a blood test that could diagnose a variety of health issues with only a single finger prick.
The brand, nicknamed the "female Steve Jobs" because of its inspired black turtleneck uniform, landed a $A450 million contract with US pharmacy chain Safeway in 2012, followed by another lucrative deal with Walgreens a year later.
Theranos is expected to expand at a rapid pace over the next two years.
Holmes will grace the cover of Fortune magazine and land an interview with former President Bill Clinton at the Clinton Global Initiative, valuing the company at nearly $US10 billion ($A14 billion).
Following reports that Theranos was producing misleading and inaccurate results, Wall Street Journal reporter John Carreyrou started an investigation into the company.
In 2018, he published Bad Blood: Secrets and Lies in a Silicon Valley Startup, which will be adapted into a film starring Jennifer Lawrence as the infamous businesswoman.
A study by the Food and Drug Administration in late 2015 revealed that the company was shipping out unapproved medical devices.
Later that year, Forbes cut her personal net worth estimate from $US4.5 billion ($A6.3 billion) to zero.
The US Department of Justice had charged Holmes and Ramesh “Sunny” Balwani, Theranos' former president and chief operating officer, with wire fraud by June 2018.
In September 2018, Theranos declared its closure.
Holmes is currently awaiting trial and could face a 20-year prison term as well as fines of up to $2.75 million. She tries to act as if she were completely innocent.
