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In 2018, the U.S. Securities and Exchange Commission (SEC) charged Theranos, Holmes, and former Theranos chief operating officer (COO) Ramesh "Sunny" Balwani with raising $700 million from investors through a fraud involving false or exaggerated claims about the accuracy of the company's blood-testing technology; Holmes settled the charges by ...
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.
Column: The Theranos verdict won't stop investors from pouring money into the next big fraud January 3, 2022 at 7:31 PM Elizabeth Holmes, founder and chief executive of Theranos, at a 2015 ...
Theranos, which Holmes founded in 2003 at the age of 19, collapsed in March 2018 when she, Balwani and the $9 billion company were charged with fraud by U.S. regulators.
Holmes, who was found guilty in January of three counts of wire fraud and one count of conspiracy related to her now-defunct blood-testing venture Theranos, faces up to 20 years in prison, up to ...
When Theranos discovered Fuisz had filed his patent, it responded by filing a lawsuit for patent theft alleging Fuisz had misused Theranos' existing patent technology. [13] [49] While researching his defence to the Theranos' lawsuit, Fuisz noted Gibbons was often named as co-inventor with Holmes on many of Theranos' patents.
Theranos and its founder, once a Silicon Valley darling who set out to shake up the blood testing industry with the prick of a finger, agreed to settle "massive fraud" charges, according to the ...