A federal appeals court in San Francisco has upheld a fraud conviction against Elizabeth Holmes. The disgraced founder of the blood-testing startup Theranos is serving an 11-year prison sentence for defrauding investors with false claims of what her company could achieve.

Summary

Elizabeth Holmes lost her appeal to overturn her fraud conviction, with a federal court ruling there were no legal missteps in her trial.

The court also upheld the conviction of her former partner, Sunny Balwani, and ordered both to pay $452 million in restitution.

Holmes, serving an 11-year sentence, falsely claimed her startup Theranos had revolutionary blood-testing technology.

The fraud, exposed in 2015, became one of Silicon Valley’s biggest scandals, leading to Theranos’ collapse and widespread media coverage, including books, documentaries, and a TV series.

  • Phoenixz
    5·
    1 month ago

    Yeah, the 9 billion dollar fraud and countless known misdiagnoses (causing untold suffering) weren’t the problem, being a woman was.

    You’re full of shit

    • hperrinEnglish
      13·
      1 month ago

      *Gestures toward the White House and Tesla.*