Elizabeth Holmes will begin serving her over 11-year jail term on April 27 after her bid to stay free while she appeals her conviction was refused.
US district court judge Edward Davila ruled that Holmes "is not likely to flee or pose a danger" to the public upon being convicted on four charges of fraud and conspiracy linked to the failing blood-testing firm in January 2022, according to The Guardian.
Nevertheless, the court in San Jose concluded that Elizabeth Holmes' chances of successfully appealing her conviction and obtaining a new trial were low.
Judge Davila stated that, opposite Elizabeth Holmes' proposition that "accuracy and reliability were central issues to her convictions, Ms. Holmes' misrepresentations to Theranos investors involved more than just whether Theranos technology 'work[ed] as promised," the New York Post reported.
The judge's decision ended a protracted disagreement between federal prosecutors and the defense team of Elizabeth Holmes, which maintained their client should stay free pending appeal since doing so would raise critical questions about her guilt and could lead to a new trial.
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Elizabeth Holmes May Appeal Again
At one time, Elizabeth Holmes was hailed as the "next Steve Jobs" and the youngest self-made millionaire in history. The technology company she founded, the medical tech startup, Theranos, failed in 2018 after its flawed technology was exposed. Its blood-testing equipment was supposed to perform a battery of tests using just a microliter of blood.
According to The BBC, she expressed "deep pain" for people who fell victim to the Theranos scheme.
Elizabeth Holmes has requested a court in San Francisco reverse her conviction for the Theranos scandal, and she will likely try one more time to stay free throughout the appeals process, which may take no less than a year.
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