HomeThe LatestShe Duped The Deep State So They Are Throwing Her In Prison

She Duped The Deep State So They Are Throwing Her In Prison

Elizabeth Holmes, the founder and former CEO of the nowdefunct bloodtesting company Theranos, will have to report to prison after a federal appeals court rejected her bid to remain out of prison while she appeals the criminal charges against her.

Holmes, who was found guilty of fraud in March 2021, was facing a prison sentence of up to 20 years. She had requested to remain out of prison while she appealed her conviction, but the Ninth Circuit Court of Appeals rejected her plea. A date for when Holmes will have to report to prison has not yet been set.

In addition to the criminal charges against her, Holmes was also ordered to pay $452 million in restitution to the people and companies she harmed with her fraud. She will be held jointly liable for the amount, along with her former boyfriend and Theranos expresident, RameshSunny Balwani, who is already in prison.

In rejecting Holmes bid to remain out of prison, U.S. District Judge Edward Davila noted that her conviction was not based solely on whether her products worked, but also related to the companys finances and her false claims to investors about what her product did.

In his ruling, Davila noted that Holmes showedno remorse to her victims and that it wasdifficult to know with certainty what Defendant would have done had the government not intervened after Holmes and her husband purchased oneway tickets to Mexico in January 2022.

Holmes legal team had previously successfully delayed her prison sentence from the original start date of April 27, but the latest ruling means that she will have to face the consequences of her crimes.

Holmes case has sparked a public outcry, with some arguing that her young age, gender, and the fact that she was the founder of a highprofile company may have influenced the ruling.

The case has also shined a light on the dangers of corporate fraud and the need for companies to be more transparent with their operations and finances.

With Holmes now facing a prison sentence, it remains to be seen how this case will impact the business world in the years to come.

The post She Duped The Deep State So They Are Throwing Her In Prison appeared first on Steadfast Clash.



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