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Theranos Inc. (/ ˈ θ ɛr. ə n. oʊ s /) was an American privately held corporation [5] that was touted as a breakthrough health technology company. Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $9 billion valuation at its peak in 2013 and 2014.
Elizabeth Anne Holmes (born February 3, 1984) is an American biotechnology entrepreneur who was convicted of fraud in connection with her blood-testing company, Theranos. [2] The company's valuation soared after it claimed to have revolutionized blood testing by developing methods that needed only very small volumes of blood, such as from a ...
, (No. 18-CR-00258-EJD) [1] was a United States federal criminal fraud case against the founder of now-defunct corporation Theranos, Elizabeth Holmes, and its former president and COO, Ramesh Balwani. The case alleged that Holmes and Balwani perpetrated multi-million dollar wire-fraud schemes against investors and patients. They had separate ...
As Elizabeth Holmes prepares to report to prison next week, the criminal case that laid bare the blood-testing scam at the heart of her Theranos startup is entering its final phase. The 11-year ...
Elizabeth Holmes, the founder and CEO of failed blood-testing company Theranos, has been sentenced to 11 years and 3 months in federal prison for her role in. Elizabeth Holmes, the founder and CEO ...
In July, a jury convicted Balwani on 12 counts of fraud for his role in aiding Theranos founder and CEO Elizabeth Holmes in fraudulently promoting the Silicon Valley company to investors and patients.
The other charges of fraud against Theranos include claiming the company's technology was being used by the U.S. Department of Defense in combat situations. [24] Another false claim included claiming a $100 million revenue stream in 2014 that was actually $100,000. [25] Balwani departed from his position at Theranos in May 2016.
Theranos founder Elizabeth Holmes and former Theranos president Sunny Balwani have been charged with wire fraud. On Friday, the Department of Justice charged the two with nine counts of wire fraud ...