Elizabeth Holmes fails to overturn her Theranos fraud conviction

apnews.com

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Elizabeth Holmes fails to overturn her Theranos fraud conviction

apnews.com

@MicroWave to

NewsEnglish • 17 hours ago

A federal appeals court in San Francisco has upheld a fraud conviction against Elizabeth Holmes. The disgraced founder of the blood-testing startup Theranos is serving an 11-year prison sentence for defrauding investors with false claims of what her company could achieve.

Summary

Elizabeth Holmes lost her appeal to overturn her fraud conviction, with a federal court ruling there were no legal missteps in her trial.

The court also upheld the conviction of her former partner, Sunny Balwani, and ordered both to pay $452 million in restitution.

Holmes, serving an 11-year sentence, falsely claimed her startup Theranos had revolutionary blood-testing technology.

The fraud, exposed in 2015, became one of Silicon Valley’s biggest scandals, leading to Theranos’ collapse and widespread media coverage, including books, documentaries, and a TV series.

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