In a one-page ruling issued Tuesday afternoon, the U.S. Court of Appeals for the 9th Circuit denied a motion by convicted Theranos founder and CEO Elizabeth Holmes to stay out of prison while she appeals her Internet fraud conviction.
The court ruled that Holmes had not raised a “substantial issue” regarding the conduct of her trial or shown that any trial errors would likely result in reversal or a sentence shorter than the 11 years and three months in prison imposed by United States District Judge Edward Davila.
In January 2022, a jury convicted Holmes of misleading and deceiving investors about the capabilities of Theranos̵[ads1]7; blood-testing technology. Davila had ordered Holmes to surrender to federal prison authorities on April 27 of this year, but that order was automatically suspended while the higher court decided to grant the bail request.
It will be up to Davila to set a new surrender date for Holmes now that her request has been denied. Holmes’ appeal, according to the order from the 9th Circuit, will continue on its original schedule and will likely take several months or a year to be resolved.
Convicted felon Elizabeth Holmes said she is finally on her way to prison after months of delays. Business and technology reporter Scott Budman has the latest.