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The U.S. Court of Appeals for the Ninth Circuit on Monday issued a decision on Theranos founder Elizabeth Holmes’ effort to overturn her conviction, choosing to uphold it.
The court simultaneously affirmed the conviction of former Theranos President Ramesh “Sunny” Balwani on charges stemming from their blood-testing company Theranos, according to the filing published online by Court Listener.
Former Theranos CEO Elizabeth Holmes leaves a hearing on March 17, 2023, in San Jose, California. (Philip Pacheco / Getty Images)
Holmes, who started Theranos as a college student and became its public face, was indicted alongside Balwani, her former romantic partner, in 2018. The two were sentenced in 2022 to 11 years and three months, and 12 years and 11 months, respectively.
CONVICTED CEO FRAUDSTER ELIZABETH HOLMES SAYS LIFE IN LOCKUP IS ‘HELL’ IN FIRST PRISON INTERVIEW
The court’s decision to uphold their convictions comes about three years after a jury found Holmes guilty of one count of conspiracy to commit fraud on investors and three counts of committing fraud on individual investors that the Department of Justice said “involved wire transfers totaling more than $140 million.”
Balwani, meanwhile, had been convicted of 12 federal criminal fraud charges.
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The two had problems with who was permitted to testify during their trials and alleged other issues, arguments that the appeals court did not agree with in its ruling. They had pushed back on the $452 million worth of restitution they had been ordered to pay as well.
Elizabeth Holmes goes through a security checkpoint as she arrives in federal court on Sept. 1, 2022 in San Jose, California. (Justin Sullivan / Getty Images)
Judge Jacqueline Nguyen authored the opinion upholding their convictions. Two other judges sat on the panel for the case.
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Balwani began serving his prison sentence in April 2023. Holmes started her sentence a little over a month after that.
Reuters contributed to this report.
