In a one-page order issued Tuesday afternoon, May 16, the U.S. Court of Appeals for the 9th Circuit denied a motion by Theranos founder and CEO Elizabeth Holmes to stay out of prison while she appeals her conviction for wire fraud.
The court ruled that Holmes had not raised a "substantial question" regarding the conduct of her trial or shown that any trial errors were likely to result in reversal or a sentence shorter than the 11-year, three-month prison term handed down by U.S. District Judge Edward Davila.
In January 2022, a jury convicted Holmes of misleading and defrauding investors about the capabilities of Palo Alto-based Theranos' 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 whether 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, per the 9th Circuit's order, will continue on its original schedule and will likely take several months or a year to be resolved.
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