Theranos' Elizabeth Holmes loses bid to stay out of prison

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Elizabeth Holmes, a former CEO of Theranos, has lost her appeal to remain out of prison while appealing her conviction for fraud.

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U.S. District Judge Edward Davila ruled that there was not enough evidence to allow Holmes to remain out on bail while her lawyers work on her appeal.

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Holmes is now 39 and will have to surrender to authorities on April 27 to begin serving her sentence of over 11 years.

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 She was found guilty on four counts of fraud and conspiracy against investors who believed in her promises to revolutionize the healthcare industry.

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In March, Holmes and her lawyers tried to convince Davila that missteps by federal prosecutors and the omission of key evidence would lead to an exoneration.

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However, the judge ruled against her, and she will now have to start serving her sentence.

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Her sentence is scheduled to begin roughly 20 years after she dropped out of Stanford University to start Theranos in Palo Alto, California.

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 Holmes founded Theranos in 03 with the goal of revolutionizing the blood-testing industry with technology that could diagnose a range of conditions with just a single drop of blood.

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Her technology was exposed as fraudulent, and the company collapsed in 2018, leading to a criminal investigation and charges against her.

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The misrepresentations made by Holmes and Theranos led to millions of dollars in investment and false hope for patients and doctors.

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The downfall of Theranos and the criminal charges against Holmes became a cautionary tale of Silicon Valley start-up culture and the dangers of promoting unproven technology.

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The verdict and sentence against Holmes serve as a reminder of the importance of honesty and integrity in business and the severe consequences of fraud and deception.

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