Elizabeth Holmes, the disgraced former CEO of Theranos, faced another setback when the 9th Circuit US Court of Appeals denied her request to rehear her case. This decision follows her conviction for fraud concerning the misleading claims about Theranos' blood-testing technology. Holmes was sentenced to over 11 years in prison and gained notoriety for her ambitious yet ultimately fraudulent promises. Theranos, once valued at $9 billion due to its innovative claimed technology, fell from grace following whistleblower claims that exposed inaccuracies in its operations.
In January 2023, the former Silicon Valley darling was sentenced to 11 years and three months in prison after being convicted of intentional wire fraud.
Holmes founded Theranos in 2003 and claimed it could perform hundreds of tests with just a few drops of blood, attracting major investments.
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