“A California federal judge has denied Theranos founder Elizabeth Holmes’ request to remain free on bail as the former leader of the medical technology startup tries to appeal her conviction for wire fraud, according to court documents filed Monday.
“In January 2022, Holmes was convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud after a jury found that she defrauded investors out of more than $100 million over a blood-testing device that did not work as advertised.
“She was later sentenced to 11 years in prison and three years of supervised release. Holmes filed for an appeal in December 2022.”
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