Disgraced Terranos founder Elizabeth Holmes lost her bid to overturn a conviction of fraud on Monday.
Holmes and Terranos President Ramesh “Sunny” Balwani were found guilty in 2022 for valuing investors at a blood test startup that failed investors at $9 billion.
A three-judge panel in San Francisco's 9th Circuit Court of Appeals rejected allegations of legal error in separate trials.
She can now petition for another examination of her case or attempt to petition the Supreme Court.
“Both are long shots,” said Raffy Melconian, the appeals lawyer. He told the Wall Street Journal. “Now that she's lost, her path to winning the case is much narrower.”
Holmes, 41, is currently sentenced to 11 years in the minimum security prison for all women in Brian, Texas.
Earlier this month, former Silicon Valley Darling gave a tearful interview with her two young children, grieving her prison visit. She said the most difficult part of serving time is watching her kids leave the safe glass doors each week.
It “shatters my world every time.” Holmes told people.
She shares two children with her partner Billy Evans, who is the heir to the Evans Hotel Group.
Holmes maintains her innocence during interviews with people, saying that she “walks by faith and ultimately by truth.” But what we're here was hell and torture. ”
Holmes was once considered the new Steve Jobs of Just and Black Turtleneck Collection, like her entrepreneur, but soon after US District Judge Edward Davila denied her case He sued a conviction.
Her attorney filed a 130-page document with the Court of Appeals, and condemned Davila's decision through trial.
The San Jose, California trial began in August 2021 and lasted nearly four months. More than 30 witnesses, including Holmes, testified.
Holmes launched Theranos at the age of 19 after dropping out of Stanford University. She ran the company for 15 years.
She claimed that Theranos, which employs hundreds of scientists and engineers, has developed a groundbreaking, unique device that can deliver results quickly on more than 200 health tests.
Reporter John Curreirow, journalist at the time, Blood test exposed It was a commercially available hematological analyzer that was not run on its own device, but had been tampered with to process trace amounts of blood.
Her then boyfriends Terranos, Holmes and Balwani were charged with civil fraud in 2018.
Holmes was charged with 11 counts of wire fraud and conspiracy, involving wire fraud against investors and patients. She was convicted of three fraud counts and one conspiracy.
