The Director General of Therano, embarrassing Elizabeth Holmes, suffered a significant legal obstacle on Thursday after an Appeal court rejected its offer to repeat its case.
The 9th district Court of Appeal did not accept Holme’s request to review its case from the original panel of three judges who previously affirmed its 2022 fraud sentence.
The court said none of the district judges requested a full judicial vote to repeat the case.
Holmes’s partner, Billy Evans, refused to comment when he was reached by the post. Her lawyers were not immediately available for comment.
In January 2023, Silicon Valley was sentenced to 11 years and three months in prison.
Holmes, a mother of two, was convicted of four allegations of wire fraud a year ago for fraudulent investors in order to the skills and accuracy of Therano’s blood testing technology.
The beginning was founded by Holmes in 2003 after it left Stanford University.
The now immature company quickly raised priority with its bold claims to revolutionize blood testing technology.
Holmes claimed that Theranos can perform hundreds of medical tests using only a few drops of blood, a significant improvement in traditional, invading methods that require larger samples.
The promise attracted considerable attention and funds, including partnerships with large companies like Walgreens and Safeway.
By 2014, Theranos was valued at about $ 9 billion, and Holmes himself had a personal fortune valued at $ 4.5 billion.
However, the company’s credibility began to be discovered in 2015 when Whistleblowers Erika Cheung and Tyler Shultz exposed inaccuracies and fraudulent practice in Theranos.
Their discoveries were documented by Wall Street Journal John Carreyrou reporter, who reported that Therano’s technology, especially its “Edison” owner’s car, often produced unreliable results and was used only for a piece of tests that the company advertised.
Exposure led to an intense regulatory check and legal actions.
In 2018, Holmes and former President Ramesh President “Sunny” Balwani were charged with fraud charges.
Holmes then resigned as CEO, and Theranos ceased operations later that year.
During her trial in 2021, prosecutors presented extensive evidence showing how Holmes deceived investors, patients and regulators.
Although she was acquitted of several charges with regard to fraudulent patients, Holmes were convicted of four charges regarding investor fraud.
Her legal team appealed, arguing that there were procedural errors during the trial and claiming that Holmes really believed that Therano’s technology would eventually succeed.
However, the Courts of Appeal did not deserve in these arguments, strengthening its sentence and long punishment.
Saga Theranos led to a book by Carlyrou; “Bad Blood”, an HBO documentary; And the dramatized Hulu series “The Downout”, presenting actress Amanda Seyfried Si Holmes.
Holmes began serving prison sentences in May 2023 and her time behind bars is expected to decrease in part for good behavior.
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