Elizabeth Holmes and Ramesh “Sunny” Balwani, who overturned fraud convictions and cut prison sentences, was denied Monday by the Northern California District Court, softening a $452 million joint reparation order He also refused.
Theranos founder Holmes and former COO Balwani were convicted in separate trials in 2022 to deceive investors about Theranos' blood testing technology capabilities. Holmes was sentenced to more than 11 years, while Balwani received nearly 13 years. Both began serving prison sentences in 2023.
In their appeal, the two granted inappropriate testimony from a former Terranos employee who served as witnesses but provided inappropriate expert testimony without the necessary legal designation. He insisted. The appeals team agreed that some testimony had passed on expert territory, but concluded that the error was harmless.
Holmes also objected to the inclusion of a terrible government report, highlighting the failures in the Terranos lab, claiming it unfairly affected the ju appellants. However, the court has found a report related to establishing her knowledge and intentions. Holmes argued that her rights had been violated when she was banned from cross-examining the former Terranos Institute Director regarding his post-Terranos employment aspects. Again, the appeals group opposed the court, saying that it “has not abused its discretion in limiting the scope of cross-examination.”
Meanwhile, Balwani argued that his charges had been inappropriately expanded during the trial (the panel dismissed this argument quite forcefully). He also argued that his right to a fair trial was violated because the government had incorrectly said that what he had said was false testimony from two investors. The court also refused to argue, saying that even if there were any issues, they had no effect on the outcome of the lawsuit.
Balwani is sentenced to prison on Terminal Island, a strictly named Terminal Island, a minimum federal facility just outside of Los Angeles. Holmes serves her at FPC Brian, a minimal security federal prison camp, about 100 miles from Houston.
