Founder Theranos and former CEO Elizabeth Holmes lost appeal against her belief over the fraud of investors in her blood testing company.
Holmes was sentenced to more than 11 years in prison.
In her appeal, she challenged the trial of evidence and testimony and claimed that the statements of their former business and romantic partner Ramesha “Sunny” Balwani on his level of responsibility for Theranos’s financial model should have been involved. He has been in prison for more than 12 years.
The appellant in the ninth round dismissed the arguments.
Judge Jacqueline H Nguyen wrote that Theranos’s claim that she could carry out blood tests with a drop from a finger stab instead of a needle in a vein, “nothing more than Miraga.”
“The Grandious achievements advertised by Holmes and Balwani were half-striking and direct lies,” Nguyen wrote in his opinion on behalf of the three-counters published on Monday.
In 2022, Holmes was convicted of conspiracy and multiple charges of wire fraud for fooling investors over the financial health of the company and the effectiveness of his technology.
Balwani, who was tried separately and additionally convicted of deceiving patients In 2022 he also lost his appeal.
In the complaint, they both challenged the court order to pay $ 452 million (£ 358 million) to the victims, which the court supported.
In Holmes’ appeal, she claimed that statements from Balwani were saying that he had “owned” the financial model of the company to be involved in the trial.
The appeal also claimed that former Theranos employees offered irregular expert witnesses, and a report on government inspection should not be included as evidence – all arguments rejected by the court.
The Start-up Terranos Silicon Valley was once estimated at $ 9 billion (£ 7 billion).
But at the end of 2015, news reporting revealed internal fighting at the company and exposed the restrictions on its technology. After two and a half years of investigation, the great jury accused Holmes and Balwani, which led to their beliefs and punishments.
Holmes entered the Texas prison in 2023.
