Elizabeth Holmes’ Fraud Conviction Upheld by Ninth Circuit (1)

Elizabeth Holmes lost her last-ditch effort to overturn her 2022 fraud conviction when a federal appeals court Monday upheld the judgment against the disgraced Theranos Inc. founder.

A three-judge panel for the US Court of Appeals for the Ninth Circuit in San Francisco also upheld the conviction of her former business and romantic partner Ramesh “Sunny” Balwani, and it upheld the $452 million restitution order the duo must pay to 14 vicitims.

Judge Jacqueline H. Nguyen, writing for the unanimous court, largely rejected arguments by Holmes and Balwani that prosecutors’ key witnesses were improperly vetted by the trial judge, and ...