Posted on 09/04/2018 7:55:29 PM PDT by sitetest
Theranos Inc., the blood-testing company accused of perpetrating Silicon Valley’s biggest fraud, will soon cease to exist.
In the wake of a high-profile scandal, the company will formally dissolve, according to a shareholder email. Theranos will seek to pay unsecured creditors its remaining cash in coming months, the letter said.
The move comes after federal prosecutors filed criminal charges against Theranos founder Elizabeth Holmes and the blood-testing company’s former No. 2 executive, alleging that they defrauded investors out of hundreds of millions of dollars and defrauded doctors and patients.
(Excerpt) Read more at wsj.com ...
A swamp company.
If the company hadn’t been headed by an attractive young woman while everyone cheered the feminist icon, it would have been challenged and shut down far sooner.
Elizabeth Holmes was one very strange lady.
James Mattis was a strong supporter of Theranos as was Henry Kissinger.
Theranos’ Board of Directors at various times included
Henry Kissinger, George Schultz, William Perry, David Boies, Sam Nunn
I am very curious to know how all these political grandees all were brought on board, and also to note how incompetent or non-existent was their oversight.
Start-up companies often look for prominent citizen-types to help give them credibility.
I own shares in a start-up right now where a headline investor is a retired prominent politician in the region where the company operates.
I just got the book “Bad Blood” about Theranos by John Carreyrou of WSJ. The book might reveal how they were recruited.
A book was written about this company and the young woman who deceived everyone. “Bad Blood” by John Carreyrou is an excellent expose on the subject. I read it. Recommend if interested in this stuff.
I hope the pussy pass does not work for her.
In my experience, they have connections with folks who raise investment funds for firms backed with private equity. They also network with each other. And sometimes, they meet someone with an interesting business proposal on their own, and then network back to the rest of the community.
This is a fairly high profile case, but hardly unusual.
I haven’t heard about this at all. What’s the deal?
Sounds very interesting!
You left out how generous was their compensation for being on the board.
All I know is the liberal media raised the chick up to exalted heights. Youngest billionaire and all that. Did not hurt that she is easy on the eyes.
No idea what the company was supposed to do.
Two words: Clinton. Money.
Spot-on. True equality doesn’t exist because if it did she and her top 4 levels of people would all be in jail or under intense legal pain.
Medical tech company promised a one-stop miracle testing process. Instead, they used normal testing methods, lying about results, resulting in defrauding investors of millions of dollars and placing patients in dire straits. Only reason the they haven’t all been jailed yet is because she’s very, very, VERY close friends with Chelsea Clinton-whats-her-last-name.
She was crazy looking with a great...eh hem...
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.