Elizabeth Holmes conviction upheld by US appeals court
The duo was convicted in separate trials of defrauding investors in their failed blood testing startup, Theranos, which was once valued at $9 billion. Holmes launched Theranos as a startup while still a college student.
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She rapidly ascended to Silicon Valley biotech stardom and was crowned America's youngest self-made billionaire. Currently, the disgraced former CEO is serving an 11 years and three months sentence at the all-women's Federal Prison Camp Bryan in Texas.
The court's opinion ruling against Holmes' bid read in part:
'Defendants argued that the district court erred by allowing former Theranos employees, who testified as lay witnesses, to offer improper expert testimony. The panel explained that if a witness offers an opinion that is based on specialized knowledge, experience, training, or education contemplated by Fed. Rule of Evidence 702, a party cannot evade the Rule by labeling a witness 'percipient. And there is no 'on-the-job' exception to Rule 702. But the fact that a witness's testimony pertains to scientific matters, or conveys opinions drawn from the witness's own experiences with such matters, does not automatically render it expert testimony within the ambit of Rule 702. Considering each of the challenged witnesses with these principles in mind, the panel held that some aspects of the testimonies veered into expert territory, but any error was harmless.'
In a recent interview with People magazine, she gave details about her new life behind bars. Balwani is serving a 12 years and 11 months sentence.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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