Elizabeth Holmes, former CEO of Theranos, has been denied her last-ditch attempt to remain free while appealing her conviction of defrauding investors. She must now serve her 11-year sentence and pay $452 million in restitution to victims of the fraud. The conviction is the result of a blood-testing hoax that brought Holmes fleeting fame and fortune, and she is being held jointly liable for the restitution with her former partner.
Posts tagged as “Edward Davila”
Elizabeth Holmes, the disgraced former CEO of Theranos, has avoided her 11-year prison sentence after her lawyers successfully appealed the decision to reject her release. The Ninth Circuit Court of Appeals has issued a stay of her prison term, allowing her to remain free on bail while her appeal is pending. The public continues to be captivated by the ongoing case of Holmes as her legal team seeks to overturn the lower court's decision.
Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, has been denied bail while she appeals her fraud conviction, and must report to prison later this month. Judge Edward Davila of the Northern District of California cast doubt on her appeal, noting that the portion of the conviction she is challenging is not likely to be overturned. Holmes was sentenced to more than 11 years in prison last November after being exposed as a fraud for promising to revolutionize the blood-testing industry.