Current:Home > StocksElizabeth Holmes' prison sentence has been delayed -CapitalSource
Elizabeth Holmes' prison sentence has been delayed
View
Date:2025-04-13 19:33:24
Disgraced Theranos CEO Elizabeth Holmes will not be starting prison yet.
Under rules from the 9th U.S. Circuit Court of Appeals, Holmes' surrender date, scheduled for Thursday, has been automatically delayed until the court rules on her appeal.
The delay is routine for 9th Circuit appeals and was expected by all parties.
A spokesman for the U.S. Attorney's Office for the Northern District of California declined to comment.
It comes five months after a federal judge sentenced Holmes to 11 years behind bars for misleading investors about her blood-testing startup, which landed her on the cover of national magazines and made her a darling of Silicon Valley.
Holmes, 39, the mother of two, had been set to turn herself over to the U.S. Marshal's Office, which would transfer her to a federal prison facility.
The court recommended the Federal Prison Camp at Bryan, Texas, about 100 miles outside of Houston, where Holmes has family.
While it is unclear when the appeals court will rule on Holmes' latest effort to undo her conviction, her co-defendant, Ramesh "Sunny" Balwani, the No. 2 at Theranos, was able to postpone his sentence by about a month due to a similar automatic appeals court delay.
Balwani is currented incarcerated at a federal prison on Terminal Island in San Pedro, Calif.
Earlier this month, U.S. District Judge Edward Davila, who presided over Holmes' trial, found that her appeal did not raise "substantial questions of law or fact," and that she should not be allowed to remain out on bail as she fights her conviction.
But Holmes' freedom is now in the hands of the Ninth Circuit.
Last January, Holmes was convicted of fraud and conspiracy for duping investors about technology that she boasted would revolutionize how blood testing is performed by testing for hundreds of conditions with just a pinprick of blood.
But the technology never worked as promised. For instance, prosecutors showed that Holmes relied on altered third-party machines, not the company's own proprietary devices, to conduct blood tests, which were often riddled with inaccuracies.
During the trial, Holmes expressed regret and said she wished she had operated the company differently.
"Every day for the past years I have felt deep pain for what people went through because I failed them," Holmes said at the time.
Lawyers for Holmes argued that she was being unfairly punished for running a business that failed, and that she made a good faith attempt to succeed before the company imploded.
Holmes' lawyers asked the judge for home confinement and community service and no more than a year in a half in prison, citing her toddler and now newborn child who need care.
Prosecutors asked the judge that Holmes be sentenced to 15 years, arguing that she "chose lies, hype and the prospect of billions of dollars over patient safety and fair dealing with investors."
Ultimately, Davila handed down a prison term of 11 years.
"This is a fraud case where an exciting venture went forward with great expectations and hope only to be dashed by untruth, misrepresentations, hubris, and plain lies," said Davila last November before announcing his punishment.
"I suppose we step back and we look at this, and we think what is the pathology of fraud? Is it the inability or the refusal to accept responsibility or express contrition in any way? Now, perhaps that is the cautionary tale that will go forward from this case."
veryGood! (83182)
Related
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Read the full text of the dissents in the Supreme Court's affirmative action ruling by Sotomayor and Jackson
- Jessie J Pays Tribute to Her Boyfriend After Welcoming Baby Boy
- How the Trump Administration’s Climate Denial Left Its Mark on The Arctic Council
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Don’t Miss This $62 Deal on $131 Worth of Philosophy Perfume and Skincare Products
- UPS strike imminent if pay agreement not reached by Friday, Teamsters warn
- Wage theft often goes unpunished despite state systems meant to combat it
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- 10 Brands That Support LGBTQIA+ Efforts Now & Always: Savage X Fenty, Abercrombie, TomboyX & More
Ranking
- Travis Hunter, the 2
- Biden Climate Plan Looks For Buy-in From Farmers Who Are Often Skeptical About Global Warming
- RHOC's Shannon Beador Reveals the Real Reason for Her and Tamra Judge's Falling Out
- House Republicans request interviews with Justice Department officials in Hunter Biden probe
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Trump Administration Offers Drilling Leases in the Arctic Wildlife Refuge, but No Major Oil Firms Bid
- Big Banks Make a Dangerous Bet on the World’s Growing Demand for Food
- Court Sides With Trump on Keystone XL Permit, but Don’t Expect Fast Progress
Recommendation
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Spoil Your Dad With the Best Father's Day Gift Ideas Under $50 From Nordstrom Rack
Jennifer Hudson Celebrates Son David's Middle School Graduation
How the Trump Administration’s Climate Denial Left Its Mark on The Arctic Council
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Naomi Campbell welcomes second child at age 53
Harvard's admission process is notoriously tough. Here's how the affirmative action ruling may affect that.
84 of the Most Popular Father’s Day Gift Ideas for Every Type of Dad