Posted on 03/14/2018 1:00:56 PM PDT by ProtectOurFreedom
Elizabeth Holmes — the Silicon Valley wunderkind whose blood-testing startup Theranos has collapsed in a slew of scandals — has been charged with “massive fraud” by the Securities and Exchange Commission. The SEC on Wednesday accused Theranos CEO Holmes and a top lieutenant of defrauding investors of more than $700 million through false claims about its blood-testing technology.
Theranos and 34-year-old Holmes ran “an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance,” according to the SEC.
While Theranos had said it was on track to make $100 million by the end of 2014, the real figure was “a little more than $100,000,” according to the SEC. And, contrary to what Theranos told investors about the Department Defense using its blood tests, they were “never deployed by the DOD in the battlefield, in Afghanistan, or on medevac helicopters,” according to the settlement.
Holmes — a Steve Jobs wannabe who dressed exclusively in black turtlenecks — settled with the regulators for $500,000 while neither admitting nor denying the accusations. She additionally agreed to not be a director or officer of a public company for 10 years, and to forgo profiting from Theranos ownership until $750 million is returned to investors, according to the consent order with the SEC. Ramesh “Sunny” Balwani, the company’s president and chief operating officer, is fighting the charges.
The charges amount to one of the biggest scandals to rock the tech world since the bursting of the tech bubble in 1999.
The settlement marks a further humiliation for Holmes, a Silicon Valley star who at one point was the youngest self-made woman billionaire with $4.5 billion in net worth.
(Excerpt) Read more at nypost.com ...
Guess she rode the strong woman diversity train the the end of the rainbow.
Don’t use quotes or the and. You get the following
Elizabeth Holmes is anything but a “wonderkind.” She a prime example of, if you can’t dazzle them with brilliance, baffle them with bull$h_+.
“So if she’s worth this much, why didn’t the SEC just tell her to pay up?”
paper net-worth, based on estimates of what her stock options MIGHT be worth ... it was all hokum all along ... the leftist fake stream media just LOVED her and ceaselessly built her up because they could FINALLY point to a FEMALE TECH SUCCESS ...
james baker was indeed on the theranos board ... so was james mattis at the time trump appointed him ... to me that was a HUGE red flag and an indicator of terrible judgement on the part of trump ...
how could it POSSIBLY get any more brazen than THIS...?
Want legal problems to go away..?
Apparently you simply PAY HILLARY.
They never thought she(HRC) would lose......
The *SAME DAY* she’s indicted for fraud, she announces a fund-raiser for Hillary..!
Toxic femininity
I totally forgot about that story!
In this case, it’s not a major corporation — she founded the company after dropping out of Stanford’s Engineering school. She hyped and lied and hyped and lied to create the fake company. Still, your point is valid. She should be in prison, not paying a measly $500,000 fine. She apparently robbed investors of $700 million.
Yes, the #MeToo and “Resist” is strong with this one.
That is based on the estimated worth of her company, which is pretty much going to be worth nothing soon. So her present and future networth will be almost nothing.
In **2015**, thank God.
It is not today, that was from March 2016, during the presidential primary campaign.
Chelsea Clinton and Elizabeth Holmes did appear together at least twice for Hillary campaign fundraising, but in March 2016 not now. One event was in San Francisco and the 2nd was at a private home in Silicon Valley. Interestingly, they had initially announced the second event as taking place AT THERANOS.... then someone in the campaign had 2nd thoughts, obviously. So even two years ago Theranos was becoming toxic as politicians started to figure out that it might blow up in their faces.
https://www.statnews.com/2016/03/21/clinton-fundraiser-theranos/
Ah, ok, thank you.
So ba$ically a Solnyndra, but this test tubes and pipettemen.
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