Convicted fraudster Elizabeth Holmes lost her bid for a new trial yesterday. U.S. District Judge Edward Davila told Holmes that her arguments for a new trial were not compelling and that a new trial would probably not lead to an acquittal. Holmes is scheduled for sentencing on November 18.
From The Wall Street Journal:
Ms. Holmes was convicted in January on four counts of criminal fraud for deceiving investors while running a yearslong scheme at Theranos, a blood-testing startup, where she was chief executive. She faces up to 20 years in prison, plus fines, for each guilty count. Lawyers following the case have said she almost certainly won't receive the maximum penalty, based on outcomes of other white-collar prosecutions. Ms. Holmes, who is visibly pregnant, has remained out of jail after posting bail.
