Elizabeth Holmes Postpones Prison Assignment With Another Appeal

SAN FRANCISCO (NEWSnet/AP) — Disgraced Theranos CEO Elizabeth Holmes has postponed her pending prison term after pursuing an appeal option that enabled her co-conspirator to remain free for an additional month.
Holmes was sentenced to 11 years on four counts of fraud and conspiracy relating to Theranos’ flawed blood tests in the aftermath of a four-month trial. She was expected to serve her time in Bryan, Texas.
Holmes' lawyers on Wednesday informed U.S. District Judge Edward Davila that she won't be reporting to prison as scheduled because she had filed an appeal of a decision he issued earlier this month. That automatically delays her reporting date, as she was already free on bail.
It’s the same approach that her former lover and subordinate, Ramesh “Sunny” Balwani, used to postpone a prison reporting date of March 16. He was convicted on 12 counts of fraud and conspiracy and is now serving a prison term of nearly 13 years.
Although they had separate trials, Holmes and Balwani were accused of similar crimes centered on a ruse touting Theranos’ blood-testing system as a breakthrough in health care.
The claims helped the company raise nearly $1 billion from investors.
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