Elizabeth Holmes appears to be bound for prison soon after an appeals court Tuesday rejected her bid to remain free while she tries to overturn her conviction in a blood-testing hoax that brought her fleeting fame and fortune.
Elizabeth Holmes was convicted, but lack of regulation for private companies like Theranos remains the problem.
Besides telling how she founded Theranos as a teenager after dropping out of Stanford University in 2003, Holmesemotionally and sexually. She also asserted that she never stopped believing Theranos would revolutionize healthcare with a technology that she promised would be able to scan for hundreds of diseases and other potential problems with just a few drops of blood.
In his restitution ruling, Davila determined that Holmes and Balwani should pay Murdoch $125 million — by far the most among the investors listed in the order. The restitution also requires the co-conspirators in the Theranos scam to pay $40 million to Walgreens, which became an investor in the startup after agreeing to provide some of the blood tests in its pharmacies in 2013. Another $14.5 million is owed to Safeway, which also agreed to be a Theranos business partner before backing out.
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Elizabeth Holmes and Sunny Balwani's relationship timelineTheranos founder Elizabeth Holmes is awaiting her 11-year prison sentence. Here's a timeline of her relationship with her co-defendent and ex-boyfriend, Sunny Balwani.
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Appellate Court Rejects Elizabeth Holmes' Motion to Stay Out of PrisonIn a one-page order issued Tuesday afternoon, the U.S. Court of Appeals for the 9th Circuit denied a motion by convicted Theranos founder and CEO Elizabeth Holmes to stay out of prison while she appeals her conviction for wire fraud.
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Elizabeth Holmes loses final bid to delay imprisonmentThe U.S. Court of Appeals for the Ninth Circuit, which is hearing her appeal, said Holmes’ appeal failed to raise a substantial question of law or fact.
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Apellate court rejects Elizabeth Holmes' motion to stay out of prisonIn a one-page order issued Tuesday afternoon, the U.S. Court of Appeals for the 9th Circuit denied a motion by convicted Theranos founder and CEO Elizabeth Holmes to stay out of prison while she appeals her conviction for wire fraud.
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