Elizabeth Holmes, the founder of Theranos, has appealed her conviction for misleading investors in her blood-testing business to judges.
On Tuesday, Ramesh “Sunny” Balwani, the president of the startup and Holmes’s previous partner, filed an appeal in a federal court in San Francisco.
Due to their respective trials in 2022, the two were sentenced to prison for their involvement in the Silicon Valley swindle.
When Holmes’s attorney presented blood-testing gadgets to investors, her client thought she was speaking the truth, the lawyer said to the judges.
Following Holmes’s departure from Stanford University, Theranos was formed and is currently valued at $9 billion (£7 billion).
According to reports, the businesswoman is the youngest self-made billionaire in the world, having drawn capital from well-known company.
2018 saw a breakdown in events as inquiries showed that the technology was broken. Theranos devices were advertised as having the ability to test for hundreds of diseases with just a few drops of blood, and Holmes and Balwani were accused of concealing subpar findings from these tests.
A podcast, an HBO documentary, and a TV series all featured accounts of the company’s collapse.
