Theranos founder Elizabeth Holmes cannot remain free during appeal, judge rules
Source: Reuters
Theranos founder Elizabeth Holmes cannot remain free during appeal, judge rules
Jody Godoy and Bharat Gautam
Tue, April 11, 2023 at 2:29 AM EDT
(Reuters) - A U.S. judge on Monday denied Theranos founder Elizabeth Holmes' request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion.
Holmes, who rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood, was convicted at trial in San Jose, California last year.
U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. Holmes asked Davila to postpone the sentence while the 9th U.S. Circuit Court of Appeals reviews her case.
Davila concluded that even if Holmes won her appeal to challenge the Theranos technology evidence, it wouldn't result in a reversal or a new trial of all the counts she was found guilty of.
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