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A federal judge on Friday sentenced disgraced Theranos CEO Elizabeth Holmes to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing ...
On June 15, 2018, following an investigation by the U.S. Attorney's Office for the Northern District of California in San Francisco that lasted more than two years, a federal grand jury indicted Holmes and former Theranos chief operating officer and president, Ramesh "Sunny" Balwani, on nine counts of wire fraud and two counts of conspiracy to commit wire fraud.
Channing Robertson, an advisor to Theranos. Serena Stewart, a phlebotomy trainer who trained employees at the Theranos Wellness Centers set up by Walgreens in Arizona. Stephanie Seitz, an ND who discussed the problems with people interpreting and ordering their own labwork, as well as problems with Theranos's inconsistent results in Arizona.
Disgraced tech entrepreneur reported to prison in Texas minutes before a court-imposed deadline on Tuesday
The terms of Holmes's settlement included surrendering voting control of Theranos, returning 18.9 million shares to the company, a ban on holding an officer or director position in a public company for 10 years, and a $500,000 fine. [64] [65] [66] At its height in 2015, Theranos had more than 800 employees. [67]
Theranos presents a perfect example of the pitfalls of the new dynamic. First, the promise of disruption. In this case, the target was the medical testing industry.
In late 2015, Carreyrou began a series of investigative articles on Theranos, published in The Wall Street Journal on the blood-testing startup founded by Elizabeth Holmes. The articles questioned the company's claim to be able to run a wide range of lab tests from a tiny sample of blood from a finger prick .
Theranos promised that a drop of blood could yield many health secrets. RapidEye/E+ via Getty ImagesOne of the most high-profile trials of the year is underway to decide whether Theranos founder ...