SAN FRANCISCO: Elizabeth Holmes, the disgraced founder of Theranos, will remain in prison after losing a bid on Feb 24 to overturn her fraud conviction, with a federal appeals court saying she hadn’t proved there were legal missteps during her trial for defrauding investors with false claims of what her blood-testing startup could achieve.
The three-judge panel in San Francisco also upheld the fraud conviction of Holmes’ former business partner and lover Ramesh "Sunny” Balwani – as well as a lower’s court order for the two to pay US$452mil (RM1.99bil) in restitution.
