Elizabeth Holmes hasn’t paid back over $25 million to creditors of her former Theranos company as she tries to delay her 11-year prison sentence, according to a lawsuit.
Elizabeth Holmes hasn’t paid back over $25 million to creditors of her former Theranos company as she tries to delayTheranos ABC, a company set up on behalf of its creditors, alleges in a lawsuit filed in the Superior Court of California in Santa Clara County that “Holmes has not made any payments on account of any of the Promissory Notes.”
According to the breach of contract suit, Holmes executed three promissory notes while she was CEO of the failed blood-testing company. The promissory notes were as follows, according to the lawsuit:December 2013 in the amount of $9,129,991.10. Two of the promissory note payments were first due in 2016 and the third due in 2018. In July 2016, Theranos’ board of directors which at the time included Holmes, former Secretary of Defense James Mattis, attorney David Boies, former Bechtel Group CEO Riley Bechtel and former Wells Fargo CEO Richard Kovacevich, modified the terms to extend the notes by five years. The first two notes are overdue and third is due in December, the suit said.
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