Saturday, June 16, 2018

CEO of Theranos Elizabeth Holmes Vision To Democratize Healthcare....Ends in Jail Time.......

Elizabeth Holmes is indicted on wire fraud charges and steps down as the CEO of Theranos

Theranos founder Elizabeth Holmes has been charged for allegedly knowingly defrauding her investors with fake blood tests and lies about the product's ability. A statement from the US Attorney's Office in the Northern District of California says Holmes and Theranos president Ramesh 'Sunny' Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. Holmes launched Theranos in 2003, spruiking the company as a cheaper and more efficient way for patients to test for life-threatening conditions, like cancer and diabetes, with just a few drops of blood from their fingers. But the US Attorney's Office alleges Holmes and Balwani had sold Theranos' blood testing laboratory did not use any new machinery, instead purchasing third-party machines that were already in use in other laboratories.Source

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