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A US decide has denied Theranos founder Elizabeth Holmes’ request to stay free on bail whereas she appeals her conviction on costs of defrauding traders within the failed blood-testing start-up that was as soon as valued within the billions of {dollars}.
Holmes, who rose to fame after claiming Theranos’ small machines might run an array of diagnostic exams with only a few drops of blood, was convicted at trial in San Jose, California final yr.
US District Choose Edward Davila sentenced Holmes to 11 years and three months in jail in November.
Holmes requested Choose Davila to postpone the sentence whereas the ninth US Circuit Court docket of Appeals opinions her case.
Choose Davila concluded that even when Holmes gained her enchantment to problem the Theranos expertise proof, it will not end in a reversal or a brand new trial of all of the counts she was discovered responsible of.
“Opposite to her suggestion that accuracy and reliability had been central points to her convictions, Ms Holmes’ misrepresentations to Theranos traders concerned extra than simply whether or not Theranos expertise labored as promised,” he mentioned on Monday.
Holmes, who’s scheduled to start serving her sentence in April, may ask the ninth Circuit to grant bail.
In denying the discharge enchantment, Choose Davila famous that Holmes was unlikely to flee or endanger the group.
Prosecutors mentioned in the course of the trial that Holmes misrepresented Theranos’ expertise and funds. Holmes testified in her personal protection, saying she believed her statements had been correct on the time.
On enchantment, Holmes plans to problem a number of of the decide’s rulings, together with his allowance of proof about Theranos’ check accuracy that postdated her statements to traders.
Holmes’ co-defendant, former Theranos President Ramesh “Sunny” Balwani, was convicted of defrauding Theranos traders and sufferers at a separate trial and sentenced to 12 years and 11 months in jail.
In March, Choose Davila denied Balwani’s request to stay free on bail throughout his enchantment.
The ninth Circuit additionally dominated that Balwani’s sentence shouldn’t be postponed whereas it considers his case.
– Reuters
