Elizabeth Holmes: Disgraced Theranos founder gets jail term delayed after winning appeal | Business News

Elizabeth Holmes, the tech billionaire notorious for fraud, avoided the start of an 11-year prison sentence on Thursday after a judge upheld her appeal to defer her sentence.

sherlock holmesFounded Theranos at the age of 39 and was sentenced after 11 years and three months found guilty Three counts of investor fraud and one count of conspiracy in November came after a four-month trial.

Silicon Valley sensation Theranos promised to detect dozens of diseases with a single blood test, but its technology was found to be flawed.

Ramesh "sunny" Balwani, ex-boyfriend of Theranos president and COO and founder Elizabeth Holmes, whose federal trial for wire fraud and conspiracy to commit wire fraud has been delayed by COVID-19 left after leaving) on ​​March 16, 2022 in a courtroom in San Jose, California, USA.  REUTERS/Brittany Hosea-Small
Ramesh ‘Sunny’ Balwani sentenced to 13 years in prison

Holmes and her former partner and subordinate, Ramesh “Sunny” BalwaniAccused of defrauding investors backing the company of nearly $1bn (£803m) while endangering the health of patients.

Balwani, 57, is serving almost 13 years in prison after being found guilty of 12 counts of fraud and conspiracy.

A San Francisco judge on Wednesday upheld Holmes’ attorney’s appeal of a lower court’s decision to deny her release while she appeals her initial fraud conviction.

Earlier this month, Judge Edward Davila rejected her appeal for release pending further appeals and told her to report to a minimum-security prison near Houston on Thursday.

read more:
Theranos founder appeals ‘unjust’ conviction
How Elizabeth Holmes went from Silicon Valley darling to disgrace

But Holmes’ lawyers appealed late Tuesday, saying the decision contained “numerous unexplained errors,” including references to “patient fraud convictions,” although a jury acquitted Holmes on those counts, Sky’s U.S. partner NBC said. News said.

sherlock holmes Sentenced in November For what prosecutors called “the worst white-collar crime that Silicon Valley or any other region has ever seen.”

Amanda Seyfried as Sherlock Holmes in The Dropout: Pic Disney+
Amanda Seyfried as Sherlock Holmes in The Dropout. Figure: Disney+

She became the youngest self-made female billionaire ever in the US in 2014, but the company, once valued at $9bn (£7.3bn), collapsed soon after the technology was revealed.

Prosecutors have until May 3 to respond to Holmes’ latest motion, NBC News said.

Theranos founder Elizabeth Holmes arrived in federal court, accompanied by family and partner Billy Evans, asking a U.S. judge at a hearing to suspend her more than 11-year prison sentence while She Urges Appeals Court to Review Her Conviction March 17, 2023 US federal court in San Jose, California accused blood testing startup of defrauding investors. Reuters/Carlos Barria
Holmes outside court with family and friends, including partner Billy Evans

Holmes’ tenure will begin about 20 years after she dropped out of Stanford to found Theranos, which has been embraced by Silicon Valley heavyweights such as apple Boss Steve Jobs.

She has two children, both of whom are fathers to her current partner, William “Billy” Evans, whom she met after her split from Balwani.

Her astonishing rise and fall from history-making billionaire to prison brink inspired documentaries, podcasts and an award-winning TV series – The Dropout – starring Amanda Seyfried as Sherlock Holmes.

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