Theranos bosses Holmes and Balwani lose appeal.
Tuesday, 25 February, 2025 - 05:03
Elizabeth Holmes, convicted of a massive fraud on investors for lying about the performance of a blood testing product, has failed in her appeal against her conviction.
Holmes and her erstwhile boyfriend, Ramesh Balwani, were sentenced to long jail terms - she to 11 years and he to 12 years 11 months. They were ordered to forfeit more than USD450 million.
Holmes was fêted as a female "unicorn" taking her wealth to more than USD1,000 million. But it was all based on fictitious data and blatant lies told to customers and investors in addition to medical and government authorities.
The company lasted 15 years before it all came crashing down.



