Theranos Founder Elizabeth Holmes Indicted on Fraud Charges

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June 15, 2018 at 02:42PM

Theranos Founder Elizabeth Holmes Indicted on Fraud Charges

Elizabeth Holmes, the disgraced chief executive of Theranos, a lab testing company, and its former president, were indicted on Friday on charges of defrauding investors out of hundreds of millions of dollars as well as deceiving patients and doctors.

The indictments, by the United States attorney’s office in San Francisco, were filed about three months after the Securities and Exchange Commission filed civil fraud charges against her, and the former president, Ramesh Balwani.

Ms. Holmes had been a darling of Silicon Valley, her photograph gracing magazine covers as she promoted what she claimed as a simple blood test that would revolutionize and personalize health care. But a series of articles in The Wall Street Journal exposed her flawed technology and resulted in a cascade of collapsing partnerships.

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via NYT > Science

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