Elizabeth Holmes Fraud Conviction Appeal Denied by Court
In a significant ruling that echoes the dramatic fall of Theranos, the Northern District Court of California denied the appeals of Elizabeth Holmes and Ramesh “Sunny” Balwani to overturn their fraud convictions and reduce their lengthy prison sentences.The court upheld the conviction of the former CEO and COO for misleading investors about the revolutionary capabilities of their blood-testing technology, which ultimately led to one of Silicon Valley’s most notorious scandals.
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