Theranos founder Elizabeth Holmes will not receive a retrial. The American businessman suspected of fraud had asked, but on Monday it became clear that this request would not be accepted. Holmes will hear on November 18 if she should go to jail.
Holmes founded the Theranos company in 2003 at the age of 19. She claimed to have developed a technology that allowed her to do many tests with just a few drops of blood. Many investors, including media mogul Rupert Murdoch, saw potential in this and the company grew rapidly. At its peak, Theranos was worth $ 9 billion.
In 2015 it became clear that the technology didn’t exist at all. Earlier this year, Holmes was found guilty of fraud. Holmes’ former business partner and lover, Ramesh “Sunny” Balwani, was also found guilty.
Holmes’ lawyers called for a retrial in September. Information would emerge that required a retrial. The court in the US state of California denied this request. The judge believes that the new evidence gives no reason to repeat the case.
Under the current schedule, Holmes will hear on November 18 what sentence he will receive. She could be sentenced to eighty years in prison, but the penalty is probably much less.
