All posts tagged "Theranos"

Disgraced Theranos founder Elizabeth Holmes has failed in her last-ditch effort to yet again avoid prison, according to numerous reports.

Holmes was convicted early last year on four counts of fraud in connection with her role in the blood-testing startup and sentenced to 11 years in prison in November. She was ordered to surrender to custody on April 27.

She had sought to remain free while she appeals her conviction, but the Ninth Circuit Court of Appeals on Tuesday rejected her request....

Elizabeth Holmes has asked an appeals court to overturn her felony fraud conviction, and the longshot legal move has delayed the Theranos founder’s imprisonment, The Mercury News reports.

Holmes was convicted early last year on four counts of fraud in connection with her role in the blood-testing startup and sentenced to 11 years in prison in November. She was ordered to surrender to custody on April 27.

But lawyers representing the disgraced former CEO late Tuesday filed a motion with the U.S. Court of Appeals for the Ninth Circuit asking that it overturn her conviction, and Holmes under the court’s rules will remain free until the court makes a ruling, the report said....

Elizabeth Holmes is due to report to prison next week, and the disgraced Theranos founder has launched an 11th-hour bid to avoid – or reduce – her 11-year sentence, Business Insider reports.

Holmes, 39, was convicted last year on four felony counts – three for wire fraud and one for conspiracy to commit wire fraud – and subsequently sentenced to 11.25 years in prison.

She had sought to remain free while her case is under appeal, but a judge last week denied her request....

Washington (AFP) - US federal prosecutors are seeking a 15-year jail term for Theranos founder Elizabeth Holmes and want her to pay more than $800 million to investors defrauded by her blood-testing startup, according to a court filing. "The government recommends the Court sentence the defendant to 180 months in custody and order her to pay $803,840,309 in restitution," said a court filing submitted Friday by US attorney Stephanie Hinds. The toughly worded filing said Holmes had been "blinded by... ambition," and that "her reality-distortion field put, and will continue to put, people in harm’......

San Francisco (AFP) - Elizabeth Holmes's startup Theranos made her a multi-billionaire hailed as the next US tech visionary by age 30, but it all evaporated in a flash of lawsuits, ignominy and, finally, criminal charges. The rise and fall of Holmes, who on Monday was convicted of defrauding investors of her biotech startup, is a heavily-chronicled saga that prompted a hard look at her methods but also the unseemly aspects of startup life. In many ways Holmes fit the image of a Silicon Valley entrepreneur, from her dark-colored turtleneck sweaters that evoked tech legend and Apple founder Stev......

San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes was convicted on Monday of defrauding investors in her blood-testing startup Theranos, in a high-profile case seen as an indictment of Silicon Valley culture. Holmes is a rare example of a tech exec being brought to book over a company flaming out, in a sector littered with the carcasses of money-losing companies that once promised untold riches. Her case shone a spotlight on the blurred line between the hustle that characterizes the industry and outright criminal dishonesty. Jurors took seven days of deliberations to reach their ve......