Former Theranos CEO and entrepreneur Elizabeth Holmes was just sentenced to over 11 years in jail and must go to prison on April 27. Her bid for bail while her conviction is being appealed was denied by the federal judge. Judge Edward Davila of the United States District Court for the District of Columbia concluded on Monday that Holmes had failed to prove that her case will be overturned as a result of her appeals process.
The federal judge ruled in January 2022 that Holmes, who had been convicted on four counts of fraud and conspiracy in connection with the now-defunct blood-testing service, “is not likely to flee or pose a danger” to the public.
A new trial may be warranted because of “substantive questions” that Holmes pledged to raise. She has two young children, one of whom was born just this year, and her lawyer argued that she should be allowed to preserve her freedom for their sake. The court in San Jose found that she had little chance of getting a new trial or having her conviction overturned, both of which are required for a convicted criminal to remain free.
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Judge Davila found that even if Holmes’ appeal about the admission of evidence regarding the reliability of Theranos’ blood-testing equipment was granted, it was unlikely to result in a total reversal or fresh trial in her case.
The lengthy legal battle between the government and Holmes’ team was finally resolved by Davila’s ruling. The prosecution claimed that Holmes and her companion William Evans were flight risks because they had planned a one-way vacation to Mexico weeks before the jury rendered a verdict in her case, and Davila addressed this argument in his decision. According to a January court document filed by the federal government, Holmes only changed his mind about the trip after consulting with prosecutors. In his judgement, Judge Davila disagreed with this.
The sudden decline in Holmes’ fame was attributed to reports that Theranos’ robots were unable to complete many of the tasks she claimed they could. Once valued at $9 billion, the medical technology startup is now worth significantly less.
Former business and romantic partner Sunny Balwani are also expected to turn himself in to prison this month after the ninth circuit court of appeals dismissed his request for a stay of execution pending appeal. Almost 12 years of Balwani’s life were taken from him after he was found guilty on 12 counts of fraud and conspiracy.
CWEB has provided some information for this story.
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Elizabeth Holmes Sentenced to 11 + Years For Theranos Fraud: Will Appeal In April 2023