Elizabeth Holmes to Report to Prison at the End of April After Losing Bid to Remain Free
A U.S. judge on April 10 denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion.
A jury ruled 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 her blood-testing technology from her company Theranos.
U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. Holmes asked Davila to postpone the sentence while the 9th U.S. Circuit Court of Appeals reviews her case….