Elizabeth Holmes Appeals Court Ruling Denies Overturn of Conviction.

In a significant legal blow to Elizabeth Holmes, an appeals court in California has officially denied her request to have her 2022 conviction overturned. Holmes, the disgraced founder of the failed blood-testing company Theranos, is currently serving a prison sentence for wire fraud and conspiracy charges. This latest ruling has dashed any hopes she had of escaping her criminal conviction.

Holmes Convicted of Fraud and Conspiracy

Holmes was convicted in 2022 on three counts of wire fraud and one count of conspiracy to commit wire fraud after misleading investors and patients about the capabilities of Theranos’ blood-testing technology.

Despite once being hailed as one of Silicon Valley's youngest and most successful entrepreneurs, the downfall of Theranos has been one of the most high-profile corporate fraud scandals in recent history.

Along with Holmes, former Theranos president and ex-boyfriend, Sunny Balwani, was convicted on similar charges and sentenced to 13 years in prison. Both individuals had appealed their respective convictions, but both were rejected in a joint ruling by the California appeals court on February 24, 2025.

What Happened in Holmes' Appeal?

Holmes made multiple claims to have her conviction overturned, citing several issues during her trial that she believed were unfair. She argued that the trial judge made an error by allowing former Theranos employees to testify as expert witnesses, despite them not being officially recognized as experts.

However, the court ruled that these individuals spoke from personal experience rather than professional expertise, and even if some of their testimony veered into expert territory, the court concluded that any error was not significant enough to impact the trial's outcome.

Additionally, Holmes' legal team challenged the presentation of a report from the Centers for Medicare and Medicaid Services (CMS) that was introduced during the trial. Holmes argued that this report misled the jury about the severity of the issues at Theranos. However, the court found no merit in this claim and determined that the evidence presented was not misleading.

Court Dismisses Claims on Cross-Examination Rights

Holmes also sought to have her conviction overturned based on the district court’s decision to limit her ability to cross-examine a former laboratory director from Theranos. She argued that this limitation violated her rights to a fair trial. But in the ruling, the court stated that restricting cross-examination in this instance was justifiable given the context and facts of the case.

The Final Ruling: Is Holmes' Appeal the End of the Road?

Neama Rahmani, a former federal prosecutor, expressed doubts about Holmes' chances of further overturning her conviction. “This is likely the end of the road for Holmes,” Rahmani told PEOPLE. “She gets one appeal as of right, and this was it. While there may be other potential legal pathways for her to explore, only a small percentage of such appeals even reach a hearing.”

Holmes had previously sought a reduced sentence, which she received following a good behavior assessment. She is currently serving a nine-year sentence in a federal prison in Texas after her original 11-year sentence was reduced.

Elizabeth Holmes Opens Up About Prison Life

After her appeal was denied, Holmes gave her first interview from behind bars, breaking her silence on life in prison. She described her experience as “hell and torture,” opening up about the immense toll it has taken on her emotionally.

Holmes, who has two young children, has also faced intense scrutiny over her actions as a mother while incarcerated. In the interview, Holmes defended her decision to have children during this turbulent period, acknowledging the optics of her situation but emphasizing her commitment to her family.

What’s Next for Holmes and Theranos?

Despite her prison sentence, Holmes remains a figure of public interest, especially as new details about the Theranos fraud case continue to surface. Her conviction and its aftermath have become a focal point in the conversation about corporate fraud, corporate responsibility, and the ethics of Silicon Valley.

The case of Elizabeth Holmes serves as a cautionary tale of ambition gone wrong and highlights the dire consequences of misleading investors and the public. As the legal journey for Holmes and other Theranos figures unfolds, the story of Theranos continues to captivate both legal and business communities.