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	<title>119135714 &#8211; eZNews</title>
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		<title>Theranos founder Elizabeth Holmes&#8217; conviction upheld by US appeals court</title>
		<link>https://eznews.xyz/world-news/theranos-founder-elizabeth-holmes-conviction-upheld-by-us-appeals-court/</link>
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		<pubDate>Mon, 24 Feb 2025 19:33:46 +0000</pubDate>
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					<description><![CDATA[A U.S. appeals court has upheld the conviction of Theranos founder Elizabeth Holmes, who is serving more than 11 years in prison for defrauding investors with false claims about her company&#8217;s blood-testing technology. The 9th U.S. Circuit Court of Appeals in San Francisco upheld the fraud convictions, sentences and $452 million restitution order for Holmes [&#8230;]]]></description>
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<p class="EkqkG IGXmU nlgHS yuUao MvWXB TjIXL aGjvy ebVHC ">A U.S. appeals court has upheld the conviction of Theranos founder Elizabeth Holmes, who is <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/Business/theranos-founder-elizabeth-holmes-reports-prison-defrauding-investors/story?id=99626509" target="_blank">serving more than 11 years</a> in prison for defrauding investors with false claims about her company&#8217;s blood-testing technology.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The 9th U.S. Circuit Court of Appeals in San Francisco upheld the fraud convictions, sentences and $452 million restitution order for Holmes and her second in command, Ramesh &#8220;Sunny&#8221; Balwani, who was sentenced to nearly 13 years in prison.</p>
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<div class="FvQLF iLTd NqeUA UzzHi iWsMV "><picture class="lazyload"><source media="(max-width: 414px)" data-srcset="https://i.abcnewsfe.com/a/9026ff6b-855d-40da-97b3-06fab400be23/theranos-elizabeth-holmes-ap-lv-250224_1740423058894_hpMain.jpg?w=375, https://i.abcnewsfe.com/a/9026ff6b-855d-40da-97b3-06fab400be23/theranos-elizabeth-holmes-ap-lv-250224_1740423058894_hpMain.jpg?w=750 2x"><source media="(min-width: 415px)" data-srcset="https://i.abcnewsfe.com/a/9026ff6b-855d-40da-97b3-06fab400be23/theranos-elizabeth-holmes-ap-lv-250224_1740423058894_hpMain.jpg?w=750, https://i.abcnewsfe.com/a/9026ff6b-855d-40da-97b3-06fab400be23/theranos-elizabeth-holmes-ap-lv-250224_1740423058894_hpMain.jpg?w=1500 2x"></picture></div>
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<div class="nMMea bNYiy Mjgpa dGwha DDmxa jgKNG RGHCC aBIU PriDW lZur " data-testid="prism-caption">
<p><span class="hsDdd OOSI GpQCA lZur VlFaz " data-testid="prism-truncate"><span><span class="gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ ">Former Theranos CEO Elizabeth Holmes leaves federal court in San Jose, Calif., March 17, 2023.</span></span></span></p>
<p><span class="gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ YNujN JGtjI aZFDu rkKLh ">Jeff Chiu/AP</span></p>
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<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The two had argued the court committed several legal errors and violated their constitutional rights during their separate trials. The three-judge panel for the appeals court rejected their claims, finding that any errors were harmless or that their arguments failed to show any violation.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">As part of their appeal, they also challenged the restitution, arguing the figure should not have been based on the investors&#8217; total investments. The panel stood by the restitution awarded by the lower court, concluding the &#8220;victims’ actual losses were equal to the total amount of their investments.&#8221;</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Holmes, 41, was <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/US/elizabeth-holmes-trial-jury-unable-unanimous-verdict-counts/story?id=82055043" target="_blank">found guilty</a> of four counts of investor fraud and conspiracy in January 2022 and <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/Business/theranos-founder-elizabeth-holmes-sentenced-conviction-fraud/story?id=93055911" target="_blank">sentenced</a> to 135 months, or 11 1/4 years, in prison. She <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/US/elizabeth-holmes-attempt-delay-prison-sentence-denied-judge/story?id=98497263" target="_blank">unsuccessfully fought</a> to delay her incarceration.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The verdict followed a four-month trial that detailed Holmes&#8217; trajectory from a Stanford University dropout in 2003 to a star business leader on the cover of Fortune magazine a little more than a decade later.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Her downfall began in 2015 amid investigations from journalists and regulators over the medical company&#8217;s faulty product, which claimed to provide accurate information from tests using just a few drops of blood.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Balwani, 59, the former romantic partner of Holmes and president of the now-defunct blood testing company, was convicted of fraud and conspiracy in July 2022 and <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://abcnews.go.com/Business/sunny-balwani-elizabeth-holmes-former-partner-sentenced-theranos/story?id=94579128" target="_blank">sentenced</a> to 155 months in prison.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy "><em class=" ">ABC News&#8217; Max Zahn contributed to this report.</em></p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy "><em class=" ">This is a developing story. Please check back for updates.</em></p>
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