Elizabeth Holmes Loses Appeal of Fraud Conviction

The Ninth Circuit Court of Appeals upholds Holmes' conviction and 11-year prison sentence for defrauding Theranos investors.

A three-judge panel of the Ninth Circuit Court of Appeals rejected all arguments from Elizabeth Holmes' legal team, affirming her 2022 conviction on four felony fraud counts.
Holmes was sentenced to more than 11 years in prison and ordered to pay hundreds of millions of dollars in restitution for misleading investors about the capabilities of Theranos' blood-testing technology.
The appellate court found no merit in claims that the trial judge improperly allowed or excluded testimony or that a regulatory report misled the jury.
Holmes, incarcerated at a federal prison in Texas, is scheduled for release in March 2032, having already reduced her sentence by over two years through good behavior and prison programs.
Holmes' legal team has not announced plans to appeal further, though the U.S. Supreme Court hears only a small fraction of appeals annually.