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US court upholds Theranos founder Elizabeth Holmes' conviction
- A federal appeals court upheld Elizabeth Holmes' fraud conviction and denied her attempt to overturn it, ruling she failed to show legal errors during her trial for misleading investors.
- The court also upheld the conviction of Ramesh Balwani and confirmed a restitution order of $452 million for both individuals.
- Holmes began serving her 11-year prison sentence in May 2023.
- The technology behind Theranos was found to be non-functional, leading to legal action after major investigative reports in 2015 unveiled the deception.
85 Articles
85 Articles
Elizabeth Holmes fails to overturn her Theranos fraud conviction New Orleans CityBusiness
Elizabeth Holmes, the disgraced founder of Theranos, will remain in prison after losing a bid Monday to overturn her fraud conviction, with a federal appeals court saying she hadn’t proved there were legal missteps during her trial for defrauding investors with false claims of what her blood-testing startup could achieve. The three-judge panel in San Francisco also upheld the fraud conviction of Holmes’ former business partner and lover Ramesh “…
Elizabeth Holmes' appeal to overturn conviction denied
(NBC, KYMA/KECY) - Theranos founder Elizabeth Holmes will remain in prison after losing a bid Monday to overturn her conviction. A federal appeals court said Holmes did not prove there were legal errors during her 2022 trial for defrauding investors. She was convicted alongside her former business partner and ex-boyfriend, Ramesh Balwani, for misleading investors about the capabilities of her company's blood testing device. Holmes and Balwani we…
Elizabeth Holmes does not escape consequences, will remain in prison until 2032
Elizabeth Holmes, CEO of Theranos, successfully projected her fabricated reality into others' minds for years. It's easy to get people to believe in something if they think it will make them rich. As soon as it became clear there was no pot of gold at the end of the rainbow, the investors, lawyers, and power players snapped out of their trances and vanished. — Read the rest The post Elizabeth Holmes does not escape consequences, will remain in p…
US Court Upholds Theranos Founder Elizabeth Holmes’ Conviction
A U.S. court upheld the convictions of Theranos’ founder Elizabeth Holmes and President Ramesh “Sunny” Balwani on Monday, on charges of defrauding investors in the failed blood testing startup once valued at $9 billion. A three-judge panel for the 9th U.S. Circuit Court of Appeals in San Francisco rejected claims of legal errors at their separate trials held in 2022. Holmes, who started Theranos as a college student and became its public face, w…
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