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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.
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.
In March, the SEC charged Holmes and Theranos with "massive fraud." The company and Theranos settled with the SEC, and as part of the settlement, Holmes paid a fine and cannot be a director or ...
Disgraced Theranos founder Elizabeth Holmes has begun her 11-year prison sentence after being found guilty of defrauding investors, including media mogul Rupert Murdoch, over fake claims about the ...
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 ...
Dawn breaks at the Federal Prison Camp where Elizabeth Holmes, the former founder and CEO of Theranos, is expected to arrive to begin her 11 year sentence for fraud relating to the defunct company ...
Elizabeth Holmes was born on February 3, 1984, in Washington, D.C. [12] Her father, Christian Rasmus Holmes IV, was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal.
The lesson of Theranos and the conviction of Elizabeth Holmes is that even big-name investors can be fooled. ... but also reinforce fraud and failure by making them seem like milestones along the way.