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Theranos founder Elizabeth Holmes has failed to persuade a court to let her stay out of prison while appealing against her 11-year sentence. According to wall street journal, the US Court of Appeals for the Ninth Circuit stated that Holmes’ appeal did not raise legal issues or questions that could affect the outcome of the case. Furthermore, even if it did raise questions, they would not be enough to overturn his fraud conviction.
Days before Holmes reported to prison on April 27, she asked the court to stay her sentence, with her lawyers arguing that she was not a flight risk. The appeals court considered his request to delay his reporting date, but ultimately decided that he must begin serving his sentence. A district court that had previously denied the same request from his camp recommended that he serve his time at the Bryan, Texas federal prison camp, which allows family visits. The appeals court will now fix a new reporting date for the former executive.
In addition to his request being denied, Holmes and former Theranos CEO Ramesh “Sunny” Balwani have also been ordered to pay back $452 million to the blood startup’s investors. If you’ll recall, Theranos promised to revolutionize healthcare with a technology that could diagnose hundreds of diseases with just a few drops of blood. However, it soon emerged that its technology was not working and that it was using conventional machines modified to use smaller amounts of blood to run its tests. Rupert Murdoch, executive chairman of News Corp, will get the largest share at $125 million. Meanwhile, Walgreens, which was once Theranos’ largest partner and even provided tests in its drugstores, is getting $40 million.
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