Elizabeth Holmes delays start of prison sentence

Elizabeth Holmes, the disgraced founder of Theranos, has delayed the start of her prison sentence of over 11 years after lodging another appeal. Holmes was convicted on four counts of fraud linked to her failed blood testing startup. Under the rules of the 9th US Circuit appeals court, Holmes’ surrender has been delayed until the court decides on her latest appeal.

Earlier this month, she appealed to remain free on bail while a challenge to her original conviction is considered, but the appeal was rejected by US District Judge Edward Davila. Holmes’ attorneys have now appealed this ruling to the 9th Circuit, which means she can remain free on bail until the appeal is heard. Her lawyers argued that Judge Davila’s decision contained errors, including referring to “patient fraud counts” even though Holmes was acquitted on those charges.

Elizabeth Holmes’ co-conspirator and former partner Ramesh Balwani successfully used the same legal manoeuvre to postpone his sentence by about a month, but he ultimately began serving his nearly 13-year sentence earlier this month. If Holmes’ appeal is unsuccessful, she is recommended to serve her sentence at a federal prison camp in Bryan, Texas, which allows for family visitation.

Holmes was once touted as the “next Steve Jobs” and claimed to be the world’s youngest self-made billionaire with her blood-testing start-up, Theranos. However, the company fell apart in 2018 after it was revealed that their technology did not work. Holmes was found guilty of four counts of fraud in January 2022 and expressed remorse for those who were misled during her trial.

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