Theranos founder Elizabeth Holmes to serve 11 years after judge dismisses latest appeal | US News

Disgraced Theranos founder Elizabeth Holmes looks set to go to jail after a court rejected her latest attempt at freedom.

The 39-year-old entrepreneur was also ordered on Tuesday by a California court to pay $452m (£363m) to victims of his crimes.

She shares liability with her ex-lover and Theranos lieutenant, Ramesh “Sunny” Balwanihas been jailed after being found guilty of wider offenses in a separate trial.

holmes tries to overthrow her fraud conviction And appealed not to go to jail while she was there.

But U.S. District Judge Edward Davila sentenced her to more than 11 years in prison Novemberwill now set a new prison date for Holmes.

revolutionary technology

Holmes dropped out of Stanford University to start Theranos with the promise of a revolutionary blood test that could check for dozens of diseases at once.

She quickly became a Silicon Valley darling and raised almost $1bn (£840m) from a string of high-profile investors including media mogul and Sky founder Rupert Murdoch, valuing the company at one point at $900m. billion (£7.3 billion).

By 2014, Holmes became the youngest self-made female billionaire ever in the United States, but the technology was revealed to be fake and the company quickly collapsed.

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
Theranos founder Elizabeth Holmes, her partner William and family.file picture

delaying tactics

Holmes had previously been told She must begin serving her sentence on April 27but her lawyers tried last-minute delaying tactics.

At her trial, Holmes accused Balwani, 57, of emotionally and sexually abusing her.

Prosecutors called her crime “one of the worst white-collar crimes Silicon Valley or any other region has ever seen.”

read more:
The Rise and Fall of Elizabeth Holmes
Can the disgraced Theranos founder make a comeback?

IMAGE: AP FILE - Former Theranos CEO Elizabeth Holmes arrives in federal court in San Jose, California, on Oct. 10.  17th, 2022. A federal judge on Friday, Nov. 18, will decide whether Holmes should receive a lengthy prison sentence for defrauding investors and endangering patients while touting bogus blood-testing technology.  (AP Photo/Jeff Chiu, File)
Photo: Associated Press

Error and Misconduct Claims

In her appeal, her lawyers cited the errors and misconduct she was accused of during the trial and said the errors and abuses that biased the jury were so serious that she should be allowed out of prison pending the appeal.

That request has now been denied by Mr. Davila and the Ninth Circuit Court of Appeals.

Holmes has two children — one-year-old son William and three-month-old daughter Invicta — with her current partner, William “Billy” Evans.

The failure of her latest appeal will see her separated from them and sent to prison.

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.

Source link