Ex-Theranos CEO Elizabeth Holmes should quickly go to jail
Elizabeth Holmes misplaced her closing request to stay free on bail whereas she appeals her fraud conviction.
The ruling Tuesday by the US Court docket of Appeals in San Francisco means the Theranos Inc. founder will quickly must report back to jail to start her 11 1/4-year sentence after she was convicted by a jury final 12 months of defrauding buyers within the blood-testing startup.
Holmes had gained a quick pause delaying the beginning of her jail time period whereas the appeals courtroom thought-about her request. The appeals panel upheld the lower-court decide who presided over Holmes’s trial and denied her request for bail. She will be able to nonetheless pursue her attraction of her conviction, however should achieve this from jail.
Former Theranos President Ramesh “Sunny” Balwani’s related request was additionally denied. He reported to jail final month to start his 13-year sentence.