A judge in the United States has rejected Elizabeth Holmes’ request to be granted bail while she appeals her conviction on charges of defrauding investors in the now-defunct blood-testing firm Theranos. Holmes, who had claimed that her small diagnostic machines could test for a range of conditions with only a few drops of blood, was found guilty in San Jose, California, last year.
US District Judge Edward Davila sentenced her to 11 years and three months in prison in November, and she had requested that the sentence be postponed until the 9th US Circuit Court of Appeals had reviewed her case. However, Davila has now rejected that request, noting that even if the appeal were successful, it would not lead to a reversal or a new trial on all the charges of which she was found guilty.
The judge dismissed Holmes’ argument that the reliability of the technology was a central issue to her convictions, noting that the misrepresentations to Theranos’ investors went beyond just the functionality of the technology. Davila also noted that Holmes was unlikely to flee or pose a risk to the community, but still declined to grant her bail. Holmes may ask the 9th Circuit to grant her bail, however.
During the trial, prosecutors argued that Holmes had misled investors about Theranos’ technology and finances. Holmes testified in her own defence, claiming that she had believed her statements to be accurate at the time. On appeal, Holmes plans to challenge several of the judge’s rulings, including his allowance of evidence about Theranos’ test accuracy that postdated her statements to investors.
Holmes’ co-defendant, former Theranos President Ramesh ‘Sunny’ Balwani, was separately convicted of defrauding Theranos’ investors and patients and was sentenced to 12 years and 11 months in prison. In March, Davila rejected Balwani’s request to be granted bail while he appealed his sentence, and the 9th Circuit has also ruled that his sentence should not be postponed while it considers his case.
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