Tue, 25 Feb 2025

Tue, 25 Feb 2025 Theranos founder Elizabeth Holmes loses fraud appeal

Holmes was sentenced to more than 11 years in prison for defrauding investors in her blood-testing company.

* Elizabeth Holmes' appeal against her conviction for defrauding investors was rejected.
* The Ninth Circuit Court of Appeals upheld the 11+ year prison sentence.
* Judge Jacqueline H Nguyen wrote that Theranos' claims were "nothing more than a mirage" and Holmes and Balwani made "half-truths and outright lies".
* Both Holmes and her ex-business partner Ramesh "Sunny" Balwani lost their appeals.
* The court also upheld the $452m restitution order to victims.
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