Elizabeth Holmes, the disgraced founder of Theranos and partner of San Diego-based Evans Hotels’ heir William “Billy” Evans, will remain in prison after losing a bid Monday to overturn her fraud conviction.

A federal appeals court on Monday upheld the conviction of Theranos founder and CEO Elizabeth Holmes for defrauding investors with false claims about her company's blood-testing technology.

Elizabeth Holmes and her partner Ramesh “Sunny” Balwani were convicted of defrauding millions from investors. Aragon agreed with the appeals court’s decision to uphold Holmes’ conviction. “There were no problems here. She deserves to be in jail and I’m glad she is,” he said.