Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion.U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison.
Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion.
Holmes rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood. She was convicted of fraud at trial in San Jose, California, last year. Davila, who oversaw Holmes' trial and sentencing, had previously rejected her argument that the appeal is likely to result in a new trial, the threshold for her to remain free on bail.
On appeal, Holmes is challenging several of the judge's rulings, including his allowance of evidence about Theranos' test accuracy that postdated her statements to investors.
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