In Delusional White Collar Criminal News: Elizabeth Holmes Is ‘Fighting for Her Freedom’

“I am more determined than ever to fight for my freedom," the fraudster said in a written statement to People. "And I know that when the truth finally comes out I will be proven innocent."

By Audra Heinrichs  |  March 5, 2025 | 2:08pm
Photo: Getty Images Entertainment
In Delusional White Collar Criminal News: Elizabeth Holmes Is ‘Fighting for Her Freedom’

It’s been seven years since Elizabeth Holmes was indicted on wire fraud and conspiracy charges in the Theranos scandal seen ’round the world and it seems she still thinks she’s innocent…

This week, it was reported that Holmes had appealed her sentence in the hopes of overturning her 2022 fraud conviction. The filing hinged on Holmes’ attorneys’ argument that prosecutors presented testimony from Theranos’ final lab director that was “infected with error” during the four-month proceedings and that the man was never properly vetted by the judge as an expert. The solution, according to her representation? That the conviction be overturned in lieu of a new trial. First Billy McFarland is back with Fyre Fest 2.0, now this? The delusion of white collar criminals must be studied.

Fortunately, the request was denied by a federal appeals court, with three judges deeming her claims invalid. In a written statement to People, Holmes responded to the decision: “I am more determined than ever to fight for my freedom. And I know that when the truth finally comes out I will be proven innocent.” What are the odds of an early release or conviction reversal? According to Neama Rahmani, a former federal prosecutor and attorney, not very high.

“This is likely the end of the road for Holmes. She gets one appeal as of right, and this was it,” Rahmani said, noting that there may be options for other appeals, but “only a small percentage” of those culminate in a hearing.

The news comes just weeks after Holmes appeared on the cover of the magazine, in which she claimed she had plans to devote herself to criminal justice reform after her release in 2032 and that she hasn’t stopped writing patents for new inventions or making plans to resume her career in healthcare technology. Holmes also bemoaned her current conditions at Federal Prison Camp Bryan, referring to them as “hell and torture.”
What was sadly lacking from the cover story was Holmes’ rumored friendship with former Real Housewife of Salt Lake City and fellow fraudster, Jennifer Shah. Shah was sentenced to 78 months in federal prison on charges of wire fraud in 2023 after she was found to have played a substantive role in a $5 million nationwide telemarketing scheme that defrauded hundreds of vulnerable elderly people out of thousands of dollars.
On Sunday, the Daily Mail captured the inmates pumping iron together. Back in September 2023, Shah’s representative, Chris Giovanni, told People that Shah and Holmes had become chummy.
“They’re friends. They’re both rehabilitating and have bonded over being on this journey of positive change,” Giovanni said at the time. “Their situations brought them together, and they have a good understanding of one another. They’re getting through it together.”
“Jen gets all the ladies together and they rally behind her while she teaches them fitness moves, and Elizabeth has been there right along with them,” he continued, asserting that Holmes was a regular attendee of Shah’s “Shah-mazing Abs” workout classes.
Holmes may not be released any time soon, but she’ll always have Shah…

 
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