Elizabeth Holmes and Ramesh Balwani's attempts to appeal their fraud convictions have been denied by the Northern District Court of California. Both founders of Theranos were convicted for misleading investors about their blood-testing technology. Their sentences, over 11 and nearly 13 years respectively, remain intact along with a $452 million restitution order. The court acknowledged some improper testimony during the trial by former employees but deemed the errors harmless. Holmes's and Balwani's claims of trial rights violations were rejected, emphasizing the validity of the prosecution's evidence against them.
The appeals panel agreed that some testimony crossed into expert territory but concluded the errors were harmless.
Holmes contested the inclusion of a damning government report that highlighted failures in Theranos's lab, arguing it unfairly influenced the jury.
Balwani claimed his charges were improperly expanded during the trial, but the panel dismissed this argument pretty forcefully.
The court found the report relevant in establishing Holmes's knowledge and intent.
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