Current:Home > reviewsElizabeth Holmes' prison sentence has been delayed -Insightful Finance Hub
Elizabeth Holmes' prison sentence has been delayed
View
Date:2025-04-13 22:01:01
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! (93773)
Related
- Travis Hunter, the 2
- San Diego deputy who pleaded guilty to manslaughter now faces federal charges
- Harrison Butker decries diversity, but he can thank Black QB Patrick Mahomes for his fame
- Why tech billionaires are trying to create a new California city
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- What we’ve learned so far in the Trump hush money trial and what to watch for as it wraps up
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Mach 3
- Disneyland's character performers vote to unionize
- Former longtime South Carolina congressman John Spratt dies at 82
- What we’ve learned so far in the Trump hush money trial and what to watch for as it wraps up
Ranking
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- What we’ve learned so far in the Trump hush money trial and what to watch for as it wraps up
- John Stamos Shares Never-Before-Seen Full House Reunion Photo With Mary-Kate and Ashley Olsen
- 3 killed in western New York after vehicle hit by Amtrak train
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Your Ultimate Guide on Which Crystals Are Best for Love, Finance, Career and Health
- Apple Music 100 Best Albums list sees Drake, Outkast, U2 in top half with entries 50-41
- Fry's coupons from USA TODAY's coupons page can help you save on groceries
Recommendation
North Carolina justices rule for restaurants in COVID
Disneyland character and parade performers in California vote to join labor union
Man suspected of shooting 6-month-old son in hostage standoff near Phoenix apparently killed himself
Murders of 2 girls and 2 young women in Canada in the 1970s linked to American serial rapist
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
‘No sign of life’ at crash site of helicopter carrying Iran’s president, others
How long will cicadas be around this year? Here's when to expect Brood XIX, XIII to die off
Ohio Solar Mounts a Comeback in the Face of a Campaign Whose Alleged Villains Include China and Bill Gates