Theranos founder Elizabeth Holmes fails in bid to stay out of prison during appeal
, the US Court of Appeals for the Ninth Circuit said Holmes' appeal doesn't raise legal issues or questions that could impact the outcome of the case. Further, even if it does raise questions, they still wouldn't be enough to overturn her fraud conviction.
Holmes had asked the court to pause her sentence a couple of days before she was supposed to report to prison on April 27th, with her lawyers arguing that she wasn't a flight risk. The appeals court delayed her reporting date while it considered her request, but it has ultimately decided that she has to start serving her sentence.
In addition to her request being denied, Holmes and former Theranos CEO Ramesh"Sunny" Balwani have also been ordered to pay $452 million in restitution 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.
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Theranos founder Elizabeth Holmes loses bid to avoid prison, required to pay $452 million in restitutionIn another ruling issued late Tuesday, US District Judge Edward Davila ordered Holmes to pay $452 million in restitution to the victims of her crimes.
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Theranos founder Holmes loses bid to stay out of prison, hit with huge restitution billTheranos founder Elizabeth Holmes and former CEO Ramesh 'Sunny' Balwani were on Tuesday ordered to pay $452 million to victims of the blood-testing startup's fraud, and an appeals court also denied Holmes' request to remain out of prison while challenging her conviction.
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