Theranos Founder Holmes Denied Request for New Trial, Court Filings Show

Reuters
By Reuters
November 9Californiashare
Theranos Founder Holmes Denied Request for New Trial, Court Filings Show
Former Theranos CEO Elizabeth Holmes arrives at federal court in San Jose, Calif., on Oct. 17, 2022. (Justin Sullivan/Getty Images)

Theranos founder Elizabeth Holmes’ request for a new trial was denied by a federal judge in California late on Monday, court documents showed.

In January, Holmes, 37, was found guilty of defrauding investors in the blood testing startup, convicting her on four of 11 counts. She was convicted of investor fraud and conspiracy, but acquitted on three counts of defrauding patients who paid for tests from Theranos, and a related conspiracy charge.

In July, former Theranos President Ramesh “Sunny” Balwani was also convicted of defrauding investors and patients about Theranos that was once valued at $9 billion.

Holmes’ lawyers filed for a new trial in September citing “newly discovered” evidence from the government’s statements made at the closing arguments of Balwani’s trial, as well as alleged government misconduct.

In Monday’s ruling, U.S. District Judge Edward Davila said that the arguments brought forward by Holmes’ lawyers for a new trial did not produce enough material evidence to prove alleged government misconduct, adding that the statements made by the government at Balwani’s trial were not material to result in Holmes’ acquittal.

Holmes is currently scheduled for sentencing on Nov. 18.

Holmes rose to Silicon Valley fame after founding Theranos in 2003 at age 19 and became known for her penchant for wearing Steve Jobs-like black turtlenecks. She faces up to 80 years in prison, but will likely get a much lower sentence.

Attorneys for Holmes did not immediately respond to a Reuters’ request for comment.

Comments