MISCELLANEOUS

Wed 15 Mar 2023 10:05 pm - Jerusalem Time

Elizabeth Holmes is appealing her prison sentence in the Theranos case

(AFP) - Former Silicon Valley biotechnology star Elizabeth Holmes has asked an appeals court to overturn her sentence of more than 11 years in prison, following her trial for fraud by her startup, Theranos.
Holmes and her legal team have until March 3 to submit documents and court transcripts supporting their petition, according to a notice released Monday by the California Ninth Circuit Court of Appeals.
Holmes' appeal says she is contesting her prison sentence last month, as well as "any and all dissenting judgments included in, prior to, or appended to the judgment".
Holmes was sentenced to 135 months in prison for defrauding investors with Silicon Valley startup Theranos.
Four months after a highly publicized trial in a San Jose, California court, Holmes was found guilty in January of lying to investors about the true progress of her company.
Holmes, who is pregnant, will not have to turn herself in until April next year, according to a court order in San Jose, California.
Holmes created Theranos Medical Diagnostics in 2003 when she was just 19, touting devices that were considered revolutionary and capable, she claimed, of up to 200 medical tests with just a few drops of blood, faster and cheaper than traditional medical laboratories.
However, after years of deceptive propaganda and the subsequent hiring of billions of dollars, these promises did not bear fruit and the promised devices did not see the light, according to the Public Prosecution Office.
In 2015, the scandal broke when the Wall Street Journal revealed that the company's promised device did not work as it should.
At its peak, the company was valued at nearly $10 billion, with Elizabeth Holmes, the majority shareholder, at the helm of a fortune of $3.6 billion, according to Forbes.

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Elizabeth Holmes is appealing her prison sentence in the Theranos case