A judge this week denied disgraced CEO Elizabeth Holmes’ request to stay free while she appeals her conviction on fraud charges.
was sentenced to a little more than 11 years in prison last November after being convicted on multiple charges of fraud while running the blood-testing start-up Theranos.’ ex-boyfriend, also was sentenced to 13 years in prison after being convicted on multiple charges of fraud.started Theranos at age 19 and soon became extremely popular in the media and with several high-profile investors.
Once one of the most popular and valuable companies in Silicon Valley, valued at $9 billion at its peak, the ambitious startup began to disintegrate after a 2015 Wall Street Journal investigation revealed the company had only sparsely used its proprietary technology while publicly stating otherwise. A year later, Theranos voided two years worth of blood test results, casting serious doubt on the company’s technology and creating serious customer backlash.
Not long after, in 2018, Theranos dissolved after settling fraud charges with the Securities and Exchange Commission.
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Theranos founder Elizabeth Holmes cannot remain free during appeal, judge rulesA 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.
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Theranos founder Elizabeth Holmes cannot remain free during appeal, judge rulesA 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.
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Judge denies Elizabeth Holmes’ appeal to stay out of prisonA federal judge has denied Elizabeth Holmes’s latest attempt to stay out of prison, ruling that she must begin serving her more than 11-year sentence on April 27.
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Judge denies Theranos founder Elizabeth Holmes appeal to remain freeDisgraced Theranos founder Elizabeth Holmes has lost her bid to remain out of federal prison while appealing her conviction for defrauding investors out of millions in one of Silicon Valley's most noteworthy startup failures.
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Judge Orders Elizabeth Holmes to Trade Mansion for Prison as She AppealsThe U.S. District Judge said that Holmes has not presented new evidence that could lead to her appeal actually resulting in a reversal or new trial.
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