after Convicted of wire fraud for her dealings with blood startup TheranosElizabeth Holmes had hoped to remain free on bail while she appealed the decision. Unfortunately for her, a federal judge denied her that luxury.
According to court documents filed Monday, Judge Edward J. Davila of the US District Court for the Northern District of California denied Holmes’ request for release on a pending appeal. The court ruled that while Holmes posed no danger to her community as a non-violent offender and had shown no intent to flee, it did not provide new evidence that could lead to her effective appeal. Which leads to a reversal or a new experience. like NPR Holmes notes in her appeal that the products she promoted through failed biotech startup Theranos were not defective, while the court argues that this does not address the cause of Holmes’ conviction, which relates to several counts of wire fraud.
Although the Court found that Mrs. Holmes did not present an escape risk or a danger to the safety of the community, it was unable to find that she would have raised a ‘question of law or material fact’ if she had been ‘positively determined (on appeal,’) from likely) to result in the overturning or ordering of a new trial of all charges on which imprisonment has been imposed”, Appeal rejected is reading. In view of the foregoing, Mrs. Holmes’ motion to release the pending appeal was refused.
Holmes founded Theranos as a startup in 2003 after dropping out of Stanford University during her undergraduate education. Holmes touted the company’s ability to test a patient’s blood with a single drop using the company’s proprietary technology. Ultimately, the company collapsed after a whistleblower inside Theranos tipped off reporters at The Wall Street Journal in 2015, claiming that the company’s blood-testing technology didn’t work at all.
After a protracted legal battle, Holmes was eventually convicted of four counts of wire fraud and conspiracy to commit wire fraud against Theranos investors, as previously reported. The Wall Street Journal. Holmes was later sentenced to more than 11 years in prison in November 2022.
Holmes is expected to report to prison on April 27, 2023.