Posted on 03/14/2018 10:42:48 AM PDT by Wolfie
Theranos: Ok, It Was A Scam
How do you make nearly three quarters of a billion dollars?
Lie, cheat and scam.
The penalty when you get caught? $500,000, or less than one thousandth of what you stole -- and not one second of prison time.
"Theranos Inc. and its founder Elizabeth Holmes agreed to settle U.S. allegations that they raised more than $700 million from investors through an elaborate fraud in which they exaggerated or made false statements about their technology, business and financial performance.
.... Holmes agreed to pay a $500,000 penalty to resolve the case, surrender voting control of Theranos, and be barred from serving as an officer of a public company for 10 years, the SEC said."
Maybe you can explain to me where the deterrent is for, say, Jeff Bezos to not break anti-trust (or tax) law.
Maybe you can explain to me why a health care executive wouldn't break anti-trust law knowingly and willingly, even though it's a felony, given this precedent.
Indeed perhaps you can explain to me why, until the aggrieved people in one or more of these cases decide that there no justice, ever, when it comes to such acts and decide to spend their life while attempting to take many more, that this sort of "punishment" will result in any sort of deterrent against more and larger scams?
You do not want to live in a world where a choice to spend one's life obtaining redress, which I remind you for a sane, logical actor will result not in riots or assaults on cops and well-guarded politicians but rather in lethal violence being directed at the easiest and least-hardened persons who were either in some way involved or refused to act in the bringing and enforcement of meaningful punishment, is the only available means of obtaining anything reasonably associated with the word "justice" when "massive scams" go completely unpunished.
Yet that is the very example our government has set and thus promotes, whether it intends to or not right now, right here, today and for the last several decades in countless cases of fraud, theft, scam and extortion -- including but certainly not limited to this one.
Elizabeth Holmes was politically connected to Obama and the Clinton’s. The law is applicable only to the minions.
And nobody goes to jail. Without rule of law we are a dead nation.
For some reason, the following didn’t paste over from the article:
Remember that the claim this company made was that with one single drop of blood they could run dozens of tests with greater accuracy, not only saving time but money, using a machine they had invented. It was all a lie; the alleged machine never worked.
Yeah, but i heard about this other great company, Therasswhol. It’s going to make a fortune!!!
In December 2017, Fortress Investment Group loaned $100 million to Theranos. Theranos had reportedly been on the verge of bankruptcy, with the loan to keep them solvent through 2018.
https://en.wikipedia.org/wiki/Theranos
In my opinion if your that dumb to throw money at something that isn’t tested then you get what you deserve.
How do you make nearly three quarters of a billion dollars?
Lie, cheat and scam.
i.e., become a career politician
She has a future in Goebel Warming.
Martin Shkreli = 7 years, $7.5M fine
Investor capital lost = ~$0
Elizabeth Holmes = $500k fine, D&O bar
Company value lost = ~$8 billion
The SEC case would be a civil matter. She could still be criminally charged if they choose to do.
Time to call 1-800-FLOWERS. It will be ruled a suicide.
“Minions” does not mean “little guys”.
People are just jealous because they’re not qualified to wear a black turtleneck.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
