Theranos founder Elizabeth Holmes charged with massive, ‘years-long fraud’
Silicon Valley's favorite blood-testing company Theranos, its founder, Elizabeth Holmes, and the company’s former president, Ramesh “Sunny” Balwani, have been formally charged with massive fraud by the agency.
The two raised more than $700 million from investors through an “elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.”
Holmes has agreed to: pay a $500,000 penalty; be barred from serving as an officer or director of a public company for 10 years; return the remaining 18.9 million shares that she obtained during the fraud; and relinquish her voting control of Theranos.
Theranos board members have included retired four-star general Colin Powell, George Schultz, Richard Kovacevich, Riley Bechtel, Bill Frist and Sam Nunn.
Seriously. Every successful female CEO doesn't go around blabbering about how she's a female CEO every 5 seconds. Every unsuccessful one, the opposite.
Ryan Martin
>women inventing anything i mean christ, she dropped out at 19 years old and people actually believed she discovered something new? this smelled fishy from the beginning.
Thomas Torres
Such bullshit, she deserves prison.
Jason Wood
I fucking knew this from the start, the way they paraded her around like jesus of technology. I don't care for her being some dumbass fall person though, she got her comeuppance and wall street kikes got a reminder that you don't push retardation too far.
Joseph Murphy
So wait... a guy named Sunny was exaggerating the scope of partnerships? Sounds familiar....
Nathan Bell
>successful >female >CEO Pick 2. There wasn't a successful female CEO ever. Every time a female CEO takes over the company sinks like a rock.
