A federal judge has ruled Theranos founder Elizabeth Holmes must serve jail time while she appeals her conviction, adding that she has not presented new evidence to make it likely that the verdict will be overturned. of guilt or a new trial.
U.S. District Judge Edward Davila ruled Monday that Holmes demonstrated that she was not a danger to the community nor would she be a flight risk if she could be free while appealing her conviction from last year. But, he concluded that Holmes also did not raise a “substantial question of law or fact” which is “capable of dismissing or ordering a new trial on all counts.”
A jury find Holmes guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud in January 2022. Prosecutors in the case said she misled investors about the success of his blood test technology from his company Theranos.
She was sentenced to more than 11 years in prison in November for her conviction, and she appealed in December. The court has scheduled Holmes to surrender to begin his sentence on April 27 at 2 p.m.
Holmes had claimed the test only required a drop of blood to test for a wide range of conditions.
Davila noted in his decision denying Holmes’ request for release that his false allegations went beyond the capabilities of the technology and included the company’s financial situation, its reliance on third-party devices and its validation by pharmaceutical companies.
Former top Theranos executive Ramesh “Sunny” Balwani, who was at one point in a relationship with Holmes, was also sentenced on 12 counts of defrauding investors and patients in July and was sentenced to nearly 13 years in prison.
He lost his attempt to stay free while pursuing an appeal last week and was ordered to report to jail on April 20.
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