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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.
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 ...
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 ...
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 ...
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.
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
A separate jury in July returned guilty verdicts against Balwani on 12 counts of wire fraud and conspiracy. Theranos ultimately collapsed in the wake of a 2015 Wall Street Journal report that ...