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The Wall Street Publication > Blog > Lifestyle > Elizabeth Holmes’ conviction was upheld: what are her subsequent steps?
Lifestyle

Elizabeth Holmes’ conviction was upheld: what are her subsequent steps?

Editorial Board Published February 26, 2025
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Elizabeth Holmes’ conviction was upheld: what are her subsequent steps?
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 Former 2024 GOP presidential candidate Vivek Ramaswamy calls out wishes to pack the Supreme Courtroom on ‘Kudlow.’

Theranos founder Elizabeth Holmes earlier this week acquired a denial for her attraction to overturn her conviction, and authorized consultants weighed in on what authorized steps she will be able to nonetheless take.

Holmes and former Theranos President Ramesh “Sunny” Balwani on Monday noticed their appeals to overturn their convictions for costs associated to the now-infamous blood-testing firm upheld by a three-judge panel from the U.S. Courtroom of Appeals for the Ninth Circuit.

SAN JOSE, CA – MARCH 17: Former Theranos CEO Elizabeth Holmes alongside her boyfriend Billy Evans, walks again to her resort following a listening to on the Robert E. Peckham U.S. Courthouse on March 17, 2023 in San Jose, California. Holmes appeared in cour (Philip Pacheco/Getty Photos / Getty Photos)

That courtroom’s resolution to uphold their convictions came to visit three years after a jury discovered Holmes responsible of 1 depend of conspiracy to commit fraud on buyers and three counts of committing fraud on particular person buyers that the Division of Justice stated “involved wire transfers totalling more than $140 million,” and Balwani was individually convicted of 12 federal legal fraud costs by one other jury. 

THERANOS FOUNDER ELIZABETH HOLMES’ CONVICTION UPHELD

Holmes’ and Balwani’s separate trials happened over a number of months a few years in the past, ending in January 2022 and July 2022, respectively.

Each sought to attraction their convictions not lengthy thereafter, with Holmes making arguments about testimony given throughout her trial in addition to sure proof and different features. The federal appeals courtroom on Monday affirmed the convictions, elevating the query of what authorized steps Holmes may pursue if she needs to proceed difficult her case.

A protection legal professional in New York Metropolis instructed FOX Enterprise that Holmes will “likely file a petition for certiorari to the Supreme Court.”

“However, those are rarely granted. There has to be an issue of potential precedential value or a decision is needed to address a split in the circuit courts,” that legal professional defined.

Seth Kretzer, a legal protection and appellate lawyer, equally stated the “only thing she really has left is to file a cert petition to the Supreme Court” however he stated “there’s no circuit split” and a overwhelming majority of cert petitions get “summarily denied.”  

“She’s welcome to take her stab, but there’s no circuit split,” he instructed FOX Enterprise. “They just affirmed all the convictions, and it was pretty overwhelming.” 

If she have been to file such a petition to the Supreme Courtroom, Kretzer stated it was “about as likely as getting struck by a bolt of lightning” that it strikes ahead. 

In a given time period, the Supreme Courtroom grants writs of certiorari and hears oral arguments for roughly 80 instances, in line with the Supreme Courtroom’s web site. Some 7,000 to eight,000 petitions are despatched to the nation’s highest courtroom annually. 

“Not all applications are made equal,” Kretzer instructed FOX Enterprise, however he believes there may be “no circuit split” within the opinions in Holmes’ case and “no grounds for a cert petition there.” 

Elizabeth Holmes

SAN JOSE, CALIFORNIA – JUNE 28: Former Theranos founder and CEO Elizabeth Holmes arrives on the Robert F. Peckham U.S. Federal Courtroom on June 28, 2019 in San Jose, California. Former Theranos CEO Elizabeth Holmes and former COO Ramesh Balwani appeared (Justin Sullivan/Getty Photos / Getty Photos)

He stated she “challenged the sufficiency in the sentence and some evidential rulings,” which he stated was “not really the sort of thing that gets a circuit split.” 

Holmes may additionally attempt to get an en-banc opinion on the appeals courtroom degree however, in line with Kretzer, these “are very rare.”

“There’s no downside to her, so she may lob one in there, but the structure of that opinion is just not likely to go anywhere in my humble opinion,” he instructed FOX Enterprise. 

The “really interesting thing” in regards to the courtroom’s Monday opinion is the “whole business between expert testimony and lay testimony,” in line with Kretzer.

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“That’s always an issue in these white collar cases. The problem is, you had several people who testified, they weren’t qualified as experts but they were just lay witnesses who were talking about stuff that ordinary people aren’t gonna know anything about, like assays and blood samples and so forth, and the Ninth Circuit actually did find that her arguments had some purchase there that some of these folks were really testifying as experts. Now, it wasn’t enough to disturb the conviction,” he stated. 

He expressed skepticism that that side could be of assist to her however stated he thought “that was the part that law students will study and practitioners.” 

“Elizabeth Holmes’ defense team has two options, and she can pursue both of them,” federal protection legal professional Ronald Chapman II instructed FOX Enterprise. “First, she will seek an en banc ruling, which is an appeal to address all of the judges on the Ninth Circuit Court of Appeals. She will also have the ability to pursue an appeal before the United States Supreme Court.” 

He stated he thinks she’s going to “take on the issue of ‘harmless error’ and argue that the standard should not be used to dismiss an otherwise valid claim of error,” one thing he expects to be a “very important issue that the Supreme Court should address.” 

“If she proceeds to the Supreme Court, she will have 90 days to file a petition,” Chapman additionally stated. “The Court will determine whether or not to accept her case, likely before the conclusion of this term, but her case would not be argued until next term, which begins in October.” 

CONVICTED CEO FRAUDSTER ELIZABETH HOLMES SAYS LIFE IN LOCKUP IS ‘HELL’ IN FIRST PRISON INTERVIEW

FOX Enterprise reached out to one in all Holmes’ legal professionals for remark from Holmes on the ruling made by the U.S. Courtroom of Appeals for the Ninth Circuit and on what she plans to do subsequent legally. 

Elizabeth Holmes theranos

SAN JOSE, CALIFORNIA – NOVEMBER 18: Former Theranos CEO Elizabeth Holmes (L) arrives at federal courtroom along with her associate Billy Evans (R) on November 18, 2022 in San Jose, California. Holmes appeared in federal courtroom for sentencing after being convicted (Photograph by Justin Sullivan/Getty Photos / Getty Photos)

Holmes started her sentence in Could 2023, reporting to a federal ladies’s jail camp in Texas. Balwani’s sentence began roughly a month earlier than hers.

Holmes and Balwani are on the hook for $452 million value of restitution.

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