Elizabeth Holmes, the former CEO of blood-testing equipment start-up Theranos, was sentenced to more than 11 years in prison and needs to start her prison sentence on April 27. A federal judge rejected her request to be released while she appeals her conviction. On Monday, US District Judge Edward Davila ruled that Holmes had not demonstrated that her case will be reversed because of her appeals procedure.
According to the federal judge, Holmes, who was found guilty of four charges of fraud and conspiracy in connection with the defunct blood-testing firm in January 2022, is “not likely to flee or pose a danger” to the public.
Holmes had promised to bring up “substantive questions” that might call for a fresh trial. Additionally, her counsel claimed that she ought to keep her freedom so that she may care for her two young children, one of whom was born this year. The San Jose-based court concluded that her appeal was unlikely to result in a new trial or reversal of the judgment, which is necessary for a defendant to remain free after a conviction.
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Even if Holmes’ appeal against the admission of evidence about the reliability of Theranos’ blood-testing equipment was successful, Judge Davila ruled that it was unlikely to lead to a total reversal or new trial in her case.
Davila’s decision put an end to a protracted legal battle between the government and Holmes’ legal team. In his decision, Davila also addressed a claim made by the prosecution that Holmes and her partner, William Evans, were flight risks because they had planned a one-way trip to Mexico weeks before the jury returned a verdict in her case. The federal government claimed that the trip was an “attempt to flee the country” in a court document from January and said that Holmes only abandoned the plan after speaking with prosecutors. Judge Davila did not agree with this in his ruling.
Reports said that Theranos’ robots could not carry out many of the tasks that Holmes said they could, leading to her precipitous fall from popularity. The medical technology startup once attracted a staggering $9 billion value.
Sunny Balwani, Holmes’s former business and romantic partner, is also required to surrender to prison this month after the ninth circuit denied his request for a stay of execution while an appeal is pending. Balwani received a prison term of almost 12 years after being found guilty on twelve counts of fraud and conspiracy.
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Who are the Theranos investors who were defrauded by Elizabeth Holmes?
