Despite Elizabeth Holmes’ latest attempt to avoid jail time, her request to remain free on bail while she appeals her conviction was denied by the court on Tuesday Reuters.
Holmes was found guilty of multiple counts of defrauding investors and was sentenced to 11 years in prison in November. She has appealed her conviction to her lawyers, claiming that she was accused of errors and misconduct during the trial.
Holmes was scheduled to start her sentence on April 27, but that was postponed due to her last minute request.
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At Tuesday’s hearing, US District Judge Edward Davila also ordered the disgraced founder of Theranos to pay her victims $452 million in compensation reports.
Ramesh “Sunny” Balwani, former COO of Theranos and former love partner of Holmes, started his 13-year sentence back in April on multiple counts of fraud, but he and Holmes will both be held jointly and severally liable for the amount of the restitution.
Judge Davila has recommended Holmes serve her sentence at a women’s prison in Bryan, Texas. However, it is not yet known whether the Federal Department of Corrections will act on the recommendation.
davila has not yet set a new starting date for Holmes’ employment at the prison.
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Original story:
Elizabeth Holmes isn’t swapping her black turtleneck for an orange jumpsuit just yet.
The former CEO of Theranos – who was due to start her 11-year sentence on Thursday after being convicted on multiple investor fraud charges in November – remains at large after a last-minute appeal.
Holmes was due to report to jail on April 27 after a judge denied her request for release while she was appealing her conviction CNN. However, Holmes’ legal team appealed the judge’s decision Tuesday, allowing her to remain free on bail while the court considers her last-minute appeal.
In addition, Holmes cited the birth of her second child when she submitted her first request to delay the start of her sentence.
Former COO of Theranos and Holmes’ ex-boyfriend Ramesh “Sunny” Balwani reported to prison in April to start his 13-year sentence. He was convicted in a separate trial of fraud allegations.
