2023-05-17 21:28:41
A federal appeals court has dismissed former biotech rising star Elizabeth Holmes’ last appeal once morest jailing, before another magistrate ordered him to report to prison authorities on May 30.
• Read also: Fallen biotech star Elizabeth Holmes is due to go to jail by the end of the month
• Read also: Theranos: Fallen star Elizabeth Holmes sentenced to 11 years in prison
The former entrepreneur had asked for the suspension of her sentence while the justice examines the appeal she lodged once morest her sentence of 11 years and 3 months in prison last November.
In a decision filed Tuesday evening, three judges from a California federal appeals court found that Elizabeth Holmes’ appeal did not justify this suspension, on the grounds that her argument did not raise a “substantial and that this appeal was unlikely to overturn his conviction.
In a decision issued on Wednesday, federal judge Edward Davila ordered the 39-year-old convict to report to a branch of the Federal Bureau of Prisons (BOP) on May 30, “to begin serving her sentence”.
Elizabeth Holmes was convicted of deception in the context of fundraising for her company Theranos, which claimed to be able to revolutionize the world of medical diagnostics.
The technology developed by Theranos never worked as promised and the biotech closed its doors in 2018, leaving behind investors who had injected several hundred million dollars into the company’s capital.
Elizabeth Holmes has always claimed her good faith, denying having knowingly sought to deceive investors.
In a separate ruling, issued Tuesday, Judge Edward Davila ordered Elizabeth Holmes and former Theranos COO Ramesh “Sunny” Balwani to jointly return $452 million to investors.
Among them, Rupert Murdoch, to whom the two former partners owe 125 million dollars.
In an interview with the New York Times, published in early May, Elizabeth Holmes explained that even before the damages, she was unable to pay her attorneys’ fees, which the prosecution has calculated at over $30 million.
“I will have to work for the rest of my life to pay them back,” she said.
The press reported that in 2019 she married Billy Evans, whose family owns a chain of hotels. She has two young children.
Her story fascinated the American media, because before her downfall, she embodied a certain image of innovative Silicon Valley.
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