Theranos Founder Elizabeth Holmes to Report to Prison after Losing Appeal Bid

todayApril 12, 2023

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Elizabeth Holmes, the founder of Theranos, will have to report to prison at the end of April after losing her bid to remain free while she appeals her conviction for defrauding investors in her blood testing start-up. Holmes was sentenced to over 11 years in prison last year, and a federal judge has now ruled that she failed to prove her appeals process would lead to a reversal of her case. Holmes argued that she would raise “substantial questions” that could warrant a new trial and that she should remain free to care for her two young children. However, the judge said that Holmes had not proven her appeal would result in a new trial. Holmes was once hailed as the “next Steve Jobs” and was said to be the world’s youngest self-made billionaire, but her start-up fell apart in 2018 after it was revealed that its technology did not work. Her former business partner, Sunny Balwani, was sentenced to nearly 13 years in prison for fraud last year.

Written by: Relaks Radio

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todayApril 12, 2023

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