Understand Your Rights. Solve Your Legal Problems
Updated: July 9, 2025
Elizabeth Holmes, founder of defunct health tech startup Theranos, is appealing her conviction on four felony counts related to defrauding investors. Convicted on January 3, she was sentenced to 11 years and 3 months in federal prison but remains free on a $500,000 bond secured by property.
Holmes plans to ask the trial judge to overturn the verdict. If denied, she is expected to appeal to a higher court and may seek to delay her prison sentence pending that appeal.
Theranos, launched by Holmes in 2003, claimed to perform dozens of blood tests from a single finger prick. At its peak, the company was valued at $9 billion. However, investigations revealed the technology did not work as advertised. Most tests were run on conventional machines, and results were often inaccurate.
In 2015, The Wall Street Journal exposed major flaws in Theranos’ technology. Federal prosecutors charged Holmes with misleading investors about the company’s capabilities and financial performance.
Former Theranos COO and Holmes’ ex-partner, Sunny Balwani, was also convicted on similar charges and began serving a 12-year, 11-month sentence in 2023.
What was Elizabeth Holmes convicted of?
Three counts of wire fraud and one count of conspiracy to commit wire fraud.
Is Elizabeth Holmes in jail now?
No. She remains free on bond while appealing her conviction.
What did Theranos claim to do?
It claimed to perform dozens of blood tests using just a finger prick.
Why did Theranos fail?
Its technology was unreliable, and the company misled investors and the public about its accuracy.
What happened to Sunny Balwani?
He was convicted on 12 counts of fraud and is currently serving his prison sentence.
