Convicted fraudster Elizabeth Holmes had a tough Tuesday.
The decide in her fraud case, US District Choose Edward Davila, ordered her and her ex-boyfriend, Ramesh “Sunny” Balwani, to pay $452 million in restitution to defrauded traders of their notorious and now defunct blood-testing firm, Theranos. Holmes, the corporate’s founder and former CEO, and Balwani, the previous president, are collectively accountable for paying again everything of the hefty sum.
In the meantime, a three-judge panel for the US Court docket of Appeals for the ninth Circuit denied Holmes’ last-ditch effort to remain out of jail whereas she appeals her conviction. Final month, Holmes’ challenged Davila’s earlier denial of bail, asking the ninth Circuit appeals court docket to weigh in. The transfer triggered an automated delay to the beginning of her 11-year-and-three-month jail time period whereas the appeals court docket reviewed her argument. Davila had beforehand ordered her to report back to jail on April 27.
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