A federal judge denied Holmes’s motion for release on Monday as she appealed her conviction on four counts of fraud and conspiracy, as reported by The Guardian. As a result, the Theranos founder is scheduled to report to prison on April 27th.
Holmes has appealed her conviction to the federal ninth circuit court of appeals based on questions about the “accuracy and reliability” of evidentiary and procedural issues in the trial. However, US district court judge Edward Davila ruled Monday that the appeals didn’t meet the burden of a “substantial” questioning of facts or law. According to the judge, the request didn’t address the conviction’s underlying wire-fraud issues against investors. Therefore, it wouldn’t warrant a reversal or new trial (the legal standard for remaining free pending appeal) even if the appeals court agreed with her assertions.
However, the judge ruled against prosecutors hoping to brand Holmes as a flight risk after learning that her partner bought her a one-way ticket for a flight to Mexico. Although the judge described the ticket purchase (and failure to cancel it post-conviction) as a “bold move” and “perilously careless oversight,” he gave her the benefit of the doubt, ruling she was “not likely to flee or pose a danger” to the public.
Last November, the Theranos founder was sentenced to over 11 years in prison for defrauding investors after a jury found her guilty last January. Founded in 2003, Theranos claimed to produce a long list of revealing health results using only a single drop of a patient’s blood. The company raised hundreds of millions of dollars from high-profile investors before internal whistleblowers sourced a 2015 Wall Street Journal story revealing that the startup’s underlying technology was bogus. The story has since become a cautionary tale, with podcasts, books and a recent Hulu miniseries cashing in on the one-time Silicon Valley golden child’s downfall.
Read More
Will Shanklin