Elizabeth Holmes Denied Prison Release During Appeal

Elizabeth Holmes, who founded Theranos, couldn't convince the court to let her avoid prison while she waits for her appeal. The US Court of Appeals for the Ninth Circuit didn't think her appeal had any legal issues or questions that would change her conviction. Even if she did have questions, they wouldn't be enough to change the outcome of her fraud conviction.

Holmes asked to delay her sentence before going to prison on April 27th, but the court said no. She wanted to avoid jail and said she wouldn't run away. The court considered her request and postponed her prison date, but now she has to go. Before, a district court said she should go to jail in Texas because it would let her have visitors. The appeals court will decide on a new date for her.

Holmes and Balwani were denied their request and are now responsible for paying $452 million to investors. Theranos once promised to revolutionize healthcare, but their technology didn't work and they used modified traditional machines for their tests. Rupert Murdoch will get the largest share at $125 million, and Walgreens, once their biggest partner, will receive $40 million.

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